Global RFID Market analysis of RFID technology, It's time to embrace RFID

Despite the economic problems, 2009 witnessed significant progress in the application of RFID technology

. With the rising interest of end users and awareness about technology in different applications and verticals, the RFID technology is gradually turning into an authentic and reliable option for identification. Besides, the entry of new players, re-positioning of some companies as RFID-focused, new product and service launches, technology up gradation, standards evolution, partnerships and alliances, mergers and acquisitions and general market awareness benefit the RFID industry.

According to a new research report the RFID market is expected to grow at a CAGR of around 17% in the period 2011-2013 to a value of approximately US$ 9.7 Billion. The overall growth in RFID is expected to outpace other automatic identification technologies like barcode. The reason behind this phenomenal growth is that the various applications in different verticals have emerged around this technology.

At the regional level, it was found that Asia-Pacific will witness the highest growth in terms of revenue. The region is anticipated to account for 27% of the entire RFID market by 2013. Other regions like Europe and North America are also focusing on improving their business processes with the RFID technology. For instance, the RFID market in Germany is expected to grow at a CAGR of around 19% during the forecast period.

According to the analysis, maximum enterprises in the European countries are using RFID for person identification/access control, while in the Asia Pacific countries logistics and retail are the emerging sectors using RFID 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.

The report provides an extensive research and prudent analysis of the RFID market worldwide. Various established and emerging RFID applications in different verticals have been covered in the report to understand the current and future market outlook of RFID in these verticals. The report also discusses the global RFID market rationally and helps clients to analyze the opportunities and factors critical to the success of global RFID industry both in short and long-term. Besides, the report includes the RFID market trends and developments in various key countries across the world.

Now a day you often read lot of articles and news on RFID in magazines as well as on internet. These articles are written by people who are well aware about the RFID technologies they understand the knowhow and usage of this technology. Let's discuss some fact and get rid of the disbeliefs related to the RFID technology.

Issues related to patents - WRONG. In the ISO arena there is a policy which states that standards should use technology that is freely available where possible. If technology exists that is protected by patents etc. and that technology is needed to implement a system, then the company holding the IP (Intellectual Property) signs an agreement to make it available to everyone on fair and reasonable terms without discrimination. This is how the ISO 18000 standards have been created.

RFID is now available - RIGHT. The ISO 18000 standards are available for purchase; the RFID is available now in many different forms. RFID is NOT NEW. There have been commercial applications of RFID available for more than ten years. While standards are good and very important, if you are implementing a closed system, the technology you need may well be available right now.

RFID is going to take away our privacy! - WRONG. Privacy is important to all of us, but there are sometimes reasons that we are prepared to give away some of that privacy. Think about cell phones, loyalty cards, credit cards. Each of these has taken away some of our privacy but we are willing to sacrifice to get the advantage of the item. RFID will be very similar. We will be willing to share information on some things to gain the advantages it will give us.

RFID tags cannot be read by a satellite in the sky. They do not contain your life history (or your purchasing history). You cannot tell what color undergarments someone is wearing, simply by reading the tag in a library book. To tie any of these things together will require access to many databases and presume knowledge that will difficult to find.

If you need help or advice on selecting the best RFID type for your application, call or email us at Agnicient Technologies Pvt. Ltd.

Global RFID Market analysis of RFID technology, It's time to embrace RFID

By: Sachin Singh

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