IDTechEx Releases RFID Market Predictions for 2008
Research firm IDTechEx of Cambridge this week released the 2008 update to its annual ten-year forecast on the RFID market. The company has published some of its key predictions for 2008, highlighted in this article.
Feb 04, 2008
—This article was originally published by RFID Update.
February 4, 2008—Research firm IDTechEx this week released the 2008 update to its annual ten-year forecast on the RFID market. Entitled RFID Forecasts, Players & Opportunities 2008-2018, the report is 266 pages and sells for $3,500 online. IDTechEx has published some of its key predictions for 2008, highlighted below:
- IDTechEx pegs the aggregate value of the entire worldwide RFID market at $5.29 billion for 2008, up from $4.93 billion last year. That figure includes everything from tags, readers, and other infrastructure to software and services.
- RFID cards and card-related infrastructure will represent 57.3 percent of the market this year at $3.03 billion. Demand from the financial, security, and safety market for applications like contactless credit cards and access control are driving this strength.
- The total number of tags deployed worldwide this year will be 2.16 billion, according to IDTechEx. That's up from 1.74 billion in 2007 and 1.02 billion in 2006.
- Case and pallet tagging for mandates will drive demand for 325 million tags of the total 2.16 billion, or 15 percent. IDTechEx also points to pick-up in retail generally, outside of retailer mandates. The item-level tagging deployment at British retailer Marks & Spencer, for example, has consumed over 100 million tags to date.
- Animal tagging is also picking up, particularly in China and Australasia; IDTechEx predicts it will contribute 90 million tags to the total in 2008.
- Smart labels are the dominant form factor for tags, with 62.4 percent of the total. That share will grow so much over the next ten years as adoption ramps that in 2018 IDTechEx sees smart labels comprising a whopping 99.1 percent of all RFID tags.
- There will 300 times as many tags produced in 2018 as in 2008, while the overall RFID market value will be five times as large.
- IDTechEx recently published a recap of RFID trends in 2007, covered in Highlights from IDTechEx's Review of RFID in 2007.
Read the article from IDTechEx
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