RFID Market to Surge Over Next 5 Years

By Greg McNevin

May 23, 2008: According to new data from the analysts at ABI Research, the worldwide RFID market will be worth US$9.7 (AU$10.07) billion by 2013.

This translates to double-digit growth from this year onwards, with the market compounding at 15 percent per annum for the next five years.

The surge has been attributed to companies such as Wal-Mart and Airbus embracing the tracking technology, as well sectors such as health where it is being trialled to monitor donor blood to ensure it makes it to the correct patient.

ABI analyst Michael Liard says that the technology will see growth in a number of different areas and applications, and that there are many vertical markets, such as asset tracking, security/access control and supply chain management, that it is highly suitable for.

Above all, Liard says that ABI figures show that the RFID market is growing robustly. “Across all product categories and flavors of RFID technology, market trends continue to be positive. We saw a strong finish to 2007, which continued into a healthy first quarter 2008,” he said.

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