The global industry for RFID technology has been steadily growing for past few years, and is expected to pick up pace before stabilizing and settling on a steady growth path. Besides, the market is greatly benefitting from the excitement related to mandates, entry of new players, re-positioning of some companies as RFID-focused, new product and service launches, technology advances, standards evolution, partnerships and alliances, mergers and acquisitions and general market awareness.
According to our new research report, “Global RFID Market Analysis till 2010”, the RFID market is set to grow at a CAGR of around 28% in the period 2010-2013. We have found that the current economic crisis across the world will not stall the global RFID market, but the market growth is expected to slowdown to around one third in 2009 as compared to the growth reported in previous years. Our research has also found that Asia-Pacific will witness the highest growth in RFID revenue owing to the rapid adoption of RFID applications in several countries, including China, India, South Korea, Taiwan and Thailand.
Within the RFID market, a major part of the growth has stemmed from the applications of RFID in various vertical segments, including transportation, government applications and consumer packaged goods. However, other application segments such as security-based solutions, contactless payments, pharmaceuticals and healthcare are in their emerging stage and are forecasted to drive growth in new markets.
Our report “Global RFID Market Analysis till 2010” provides an extensive research and prudent analysis of the RFID market worldwide. Various established and emerging RFID applications in different verticals have been covered in the report to understand the current and future market outlook of RFID in these verticals. The report also discusses the global RFID market rationally and helps clients to analyze the opportunities and factors critical to the success of global RFID industry both in short and long-term. Besides, the report includes the RFID market trends and developments in various key countries across the world.
