According to TechNavio, “the global RFID market was $5,250 million in 2008, and is expected to reach $9,182 million by 2012.”
A major part of the growth for RFID comes from established applications such as security/access control, automobile immobilization, animal tracking, and toll collection. However, security-based solutions, contactless payments, and supply chain management applications are also emerging; thus, presenting new market opportunities. The other area of opportunity is contactless smartcards.
A large number of players exist in the RFID market. These include tag manufacturers, database providers, system integrators, etc. However, few players lack maturity to compete in the market. Thus, global RFID players are acquiring such immature players to increase their capabilities and capture the maximum market share.
The report “Global RFID Market 2008-2012”, published by TechNavio Insights, showcases the key trends in the global RFID market. It also includes the market size, segmentation, and market drivers. For further information on this report, you can visit: http://www.technavio.com/
