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As per our research report “Global RFID Market Analysis till 2010”, the RFID market is expected to grow at a CAGR of around 17% during 2011-2013. The overall growth in the RFID sector is expected to outpace other automatic identification technologies like barcode. According to our analysis in the report, the current market remains driven by applications like contactless payment, anti-counterfeiting/authentication, ID documents, item level tagging, and animal identification.

The reason for this phenomenal growth is that, various applications in different verticals have emerged around this technology. Use of RFID in pharmaceutical, healthcare and in a number of vertical markets will drive the RFID uptake in near future. Our report has discussed the use of RFID technology in various verticals and the benefits these will enjoy by using RFID technology. The study has also forecasted the growth of technology in these verticals till 2013.

At regional level analysis, we have found that the Asia-Pacific region will witness the highest growth in terms of revenue. The region is anticipated to account for almost a quarter of the entire RFID market by 2013. Other regions like Europe and North America are also focusing on improving their business processes with the RFID technology. For instance, German RFID market is expected to grow at a double digit CAGR during the forecast period. The report provides forecasts for the countries and regions analyzed under the segment regional level analysis. Different applications used in these regions have also been identified in our report.
 
Furthermore, increased hardware commoditization will give more emphasis on RFID software and services during the forecast period. The role of software will be more critical in future as solutions will expand and become more complex. As RFID operations demand huge investments and research facilities, the governments across the globe are supporting the RFID projects by investing money in research and innovation centers to promote RFID industry. Besides government support, report has identified other drivers that are boosting growth in RFID technology. The study has also discussed the products, contactless smartcards, and growth inhibitors of industry.

For more information visit: http://www.rncos.com/Report/IM576.htm