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Automotive Firms Eyeing RFID for Growth
Jun 24, 2007

Automotive firms are beginning to invest in RFID technology, which will see RFID making a mark in another developing sector.

As per recent reports, automotive firms are beginning to invest in RFID technology, which will see RFID making a mark in another developing sector. For instance, car manufacturer, Jaguar is all set to deploy RFID tags & sensors for shipping replacement parts in collaboration with its partner Unipart Logistics.

Savi Networks, formed in 1989, is a provider of real-time services related to RFID that secure & manage global supply-chain assets. It will supply these tags & sensors to be used for shipping containers that will ship the spare parts and will result in quicker export times & more secure shipment.

Lani Fritts of Savi Networks highlighted the increasing competitive nature of supply chains and emphasized the importance of discovering new ideas for automotive firms to survive in this competition. Fritts added that the adoption cycle for RFID is seeing growth and is a part of the ongoing improvement process.

RFID is already developing in logistics industry, with major US firms going for RFID chips to be used in shops & suppliers. Also, RFID has seen a considerable growth in manufacturing sector, especially in manufacturing & machine tracking.

"The value of RFID sector by 2016 is slated to be about US$ 26.2 Billion. Investments are expected to skyrocket to US$ 1.3 Billion by 2008, an increase from US$ 91.5 Million in 2003. Reduction in the price of tags and readers will further push up the sales", estimates the report "
RFID Industry Analysis 2006" published by RNCOS.

Related Market Research Reports:
Global RFID Market Analysis till 2010
European RFID Industry Outlook (2007-2010)
RFID Outlook China