THE RADIO FREQUENCY IDENTIFICATION (RFID) market is set to make comeback over the next few years, according to ABI research.
After a tough 2009, whereby ABI ended up having to adjust previous forecasts downward, the company reckons that the global RFID market is set to hit around $5.5 billion this year and will grow steadily for the next five years, reaching over $8.25 billion in 2014.
According to ABI's recent Semi-Annual RFID Market Data report, although RFID has many uses, automobile immobilisation is the biggest application, accounting for nearly 20 per cent of the market.
Although growth in the established sections is levelling off somewhat, new areas are starting to see significant interest.
"Not all segments of the RFID market are created equal," explained ABI's practice director, Michael Liard.
"To 2014, the greatest growth will be found in RTLS (Real Time Location Systems), baggage handling, animal ID, and item-level tagging in fashion apparel and retail."
As well as those mentioned by Liard, the report reckons that documentation such as electronic vehicle registration, e-ID and e-government documents and library systems are all set to get the RFID treatment.
The report mentions RFID being used in security, animal ID, asset management, baggage handling and cargo tracking, but with as many as a quarter of Germans apparently happy to be implanted with a chip to assist with shopping, ABI's research could need to be adjusted up in the coming years. µ
Sign up for INQbot – a weekly roundup of the best from the INQ