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Research: RFID in China Growing 23% Quarterly
Chinese research firm Analysys International just released findings on the RFID market in China, which appears to be growing at an enviable rate. According to Analysys, the market grew 23.4 percent in just the second quarter alone, when it reached RMB 1.076 billion, or roughly US$143 million.
Oct 11, 2007—This article was originally published by RFID Update.
October 11, 2007—Chinese research firm Analysys International just released findings on the RFID market in China, which appears to be growing at an enviable rate. According to Analysys, the market grew 23.4 percent in the second quarter alone, when it reached RMB 1.076 billion, or roughly US$143 million. While the size of the Chinese market might not be that large yet, a 23.4 percent quarter-over-quarter growth rate is impressive indeed; at that rate, the market would more than double in a year.
Analysys also ranked the RFID companies it considers the "Top 3" competing in the Chinese market: Invengo, Sense Technology, and Intermec. RFID hardware manufacturer Intermec is a familiar name in North America and Europe, but the other two are lesser known. Both Invengo and Sense Technology are based in highly industrialized Shenzhen. Analysys estimates that together the three firms represent almost half of the entire RFID market in China.
Analysys isn't the only firm bullish on RFID in China. Earlier this year, IDTechEx identified China as the largest national RFID market in the world for 2007, predicting it would reach US$1.9 billion in value (see IDTechEx: China is Largest RFID Market in 2007). By far the biggest contributor to the market will be the Chinese government's identification card program, on which it will spend US$1.65 billion this year alone on about 300 million cards and related infrastructure.
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