A new report published by Global Industry Analysts states that the RFID market is poised for strong growth…the analysts estimate a $12.7 billion market for RFID by 2015. The report confirms that RFID remains strong in core markets such as supply chain management and cargo tracking, among others. The report also cites that new applications for RFID, including asset management and product tracking in retail, will represent additional growth.
Despite the recession, the RFID market grew over the last few years because RFID can help improve operational efficiency, reduce costs and provide competitive differentiation. Even when money is tight, the ROI for many RFID implementations still makes solid financial sense.
While interest in RFID remains strong, we’re still seeing some hesitation around the cost and functionality of active and passive RFID. On a recent RFID Journal Virtual Event titled “RFID in Construction” presenters referred to projects that started but were either stopped or delayed because the cost of active tags was prohibitive or the performance of passive tags was too limiting. We believe ISO/IEC standards-based battery assisted passive (aka semi-passive or semi-active) successfully addresses these issues. By cost-effectively delivering read ranges of 300 feet, the ability to reliably read inside packaging and containers, and on-tag memory for capturing and storing information about an item’s history or condition, Battery Assisted Passive RFID further enhances the value proposition and should encourage more rapid adoption.
The “RFID in Construction” virtual event includes a case study showing how HCSS is applying Intelleflex RFID solutions to improve load counting and tracking at remote and mobile worksites. You can view the HCSS case study and other presentations from this virtual event on the RFID Journal website.
Here’s to market growth in 2011!
Senior Director of Marketing