RFID Talk Blog

VDC survey reveals outstanding growth for RFID

Some great news came out of VDC Research’s RFID webcast today. The mostly upbeat presentation predicts good times ahead for RFID. Specifically, respondents in the survey — mostly tier one firms — said they spent an average of $1 million apiece on RFID technology in 2009. This year, that number is expected to grow to an average spend of $3.5 million per company, as firms expand the technology out to their entire value chain.

“That’s a tremendous uptick,” says Drew Nathanson, practice director at VDC.

What’s more impressive is that the same group of companies expect to spend almost $7 million apiece on RFID in 2011. “What you are seeing here is that scale is happening, and a lot of these applications and deployments that have been scaling at a slower pace are starting to pick up,” says Nathanson. “And the biggest companies have put budgets aside so they can scale this through the value chain.”

The other exciting aspect to the RFID growth story is that although existing customers make up a large majority of RFID sales, new customers are picking up steam and converting pilots into major deployments. By 2012, these new accounts will represent enough new business to provide momentum for the industry for many years.

“This is exciting,” says Nathanson. “This is the first time we’ve seen data tell us that new accounts will outweigh existing accounts, which means RFID is expanding into other markets and other parts of the value chain.”

Check back at RFID 24-7 for more outtakes from the VDC survey.

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