RFID Talk Blog

Research report: RFID will grow 17 percent annually in the North America market

A new research report titled Global RFID Market Analysis till 2010” calls for the RFID market to grow at a CAGR of around 17 percent between 2011-2013, to a value of approximately US$ 9.7 Billion. The overall growth in RFID is expected to outpace other automatic identification technologies such as bar code. The reason behind this phenomenal growth is that the various applications in different verticals have emerged around this technology.

At the regional level, the report by RNCOS reveals that the Asia-Pacific region will witness the highest growth in terms of revenue. The region is anticipated to account for 27 percent of the entire RFID market by 2013. Other regions like Europe and North America are also focusing on improving their business processes through RFID technology. In Germany, for example, the RFID market is expected to grow at a CAGR of around 19 percent for the next three years.

According to the report, enterprises in European countries are using RFID for personal identification/access control, while in the Asia Pacific countries logistics and retail are the emerging sectors for the technology. Other verticals like transportation, consumer packaged goods will continue to use the technology in almost all the regions in near future. Application segments such as security-based solutions, pharmaceuticals and healthcare are in the emerging stage and are expected to drive growth in the market.

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