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RFID market booming


11/10/2006 14:45 
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The demand for active radio frequency identification (RFID) tags is expected to soar over the next decade, according to new research.

Analyst IDTechEx estimates that the current market for RFID will increase in size by about 12 times before 2016, as more businesses seek to take advantage of the technology to oversee supply chain management and procurement, reports Vnunet.

Currently active RFID accounts for around 20 per cent of all RFID sales but the latest figures suggest that the value of such sales could increase from around from $550 million (£296.2 million) to $6.78 billion (£3.7 billion) over the next ten years.

Active RFID tags have their own internal power source and are generally seen as more reliable than standard tags, especially as they can be used in more challenging environments including metal storage containers and underwater.

Retailers are keen to use RFID technology to help improve supply chain management as the tags can be used to monitor temperatures of perishable goods as well as helping to prevent counterfeiting operations and improve asset tracking.

 
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