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Americas RFID Market Poised for Rapid Expansion till 2013
Jan 03, 2011
Our latest report “Global RFID Market Analysis till 2010”, says that Americas RFID market will grow at a CAGR of about 15% during the forecast period (2011-2013). This growth is attributed to the advancements in the RFID sector and mandates set by retail giants and the government. Standardization of technology is also regarded as one of the powerful drivers of this industry. Another important market driver is the continuous investment by the RFID vendors. The technology appeals to traditional barcode vendors as sensors are typically combined with active RFID.
As per our research, among the Americas, North American passive RFID market will witness a rapid development. The readers market is likely to see significant growth in coming years. This growth will result from the ongoing standardization initiatives in the RFID arena. In addition, the introduction of small-sized and less expensive readers will increase options for end users; thereby, raising competition levels among reader manufacturers. With the increasing rate of RFID adoption by retail giants and defense segment, the North American RFID middleware and software market generated huge revenue in 2006 and is expected to nearly double it by 2013.
We have also found that the global RFID market recorded fast pace growth even during the tough economic conditions. The market has been driven by numerous mandates, new product and service launch, entry of new players, technological advancements, re-positioning of some companies as RFID-focused, partnerships and alliances, general market awareness, mergers & acquisitions and standards evolution. Besides, demand for RFID software, hardware and services is widely affected by the application areas, where RFID is being used. Maximum demand came from the transportation sector that accounted for around 28% of the total RFID market in 2009.
“Global RFID Market Analysis till 2010” presents a thorough study of the global RFID market and its future potential till 2013. The report covers various vertical segments like, healthcare, retail, automotive, and consumer packaged goods. At the regional level, the report covers Americas, EMEA, and Asia Pacific. The report also provides recent industry trends and developments and aims at providing the best consultancy to clients.
For more information visit: http://www.rncos.com/Report/IM576.htm
For more information visit: http://www.rncos.com/Report/IM576.htm
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