Press Release: RFID Technology: The Next Big Thing in China’s Economy

The Chinese government has laid special emphasis on the development of RFID technology. The government envisages that large-scale implementation of this technology in different sectors of the economy will fuel increased efficiency with respect to supply-chain management, availability of accurate and relevant data, and crucial cost savings. The government zeal for RFID systems for overall efficiency is louder than ever.

RFID finds applications in security access, or even for tracking library and act as vending machines for money transactions. Most systems that deploy RFID technology use High Frequency devices such as smart cards that have a variety of applications such as in transportation, anti-counterfeiting, ticketing and others.

Experts say there’s immense scope of High Frequency RFID systems in China especially in citizen identification cards such as passports for authorized access. Multinational companies like WalMart, which has large merchandising presence in china and has made public that its suppliers should use RFID chips that will enable the company to efficiently keep track of inventory across the supply chain.

RNCOS recent report, “RFID Industry Analysis 2006”, highlights the prospects of the global RFID technology in different regions of the world. According to the report RFID technology will find applications in different sectors of the Chinese economy.

The Chinese government, realizing the potential of this industry has laid special emphasis on the development on this technology. Industries such as manufacturing and transportation are likely to be major purchasers RFID technology in the period 2005-2009. Moreover, with the rising growth of retail industry especially organized retail in china, RFID will find application in end-to-end supply management as well as Logistics.

The report addresses important aspects of RFID industry, such as:

- The status of Global RFID Market.

- The future projection of RFID hardware components and RFID software and services market.

- The applications and chances associated with RFID.

- The prospects of RFID in various applications such as in Supply chain Management, Asset Tracking and Point of sale applications

- The potential of RFID in various vertical segments such as Consumer Packaged goods, Retail Units, Healthcare/Pharmaceutical sector and Commercial Sector

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