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RFID market to reach $11.2 billion this year, says IDTechEx ••• RFID company Verigenics receives ISO 9001:2015 certification ••• B.O.S. launches RFID system for tracking inventory at produce packing house ••• ZKAccess releases multi-biometric RFID-based access-control device ••• Mobile Experts predicts asset-tracking IoT device market to triple by 2022.
Aug 03, 2017—
RFID Market to Reach $11.2 Billion This Year, Says IDTechEx
IDTechEx Research, in its new report, "RFID Forecasts, Players and Opportunities 2017-2027", finds that the total radio frequency identification market will be worth $11.2 billion this year, up from $10.52 billion in 2016 and $9.95 billion the year prior. This includes tags, readers, software and services for passive and active RFID labels, cards, fobs and other form factors.
In retail, RFID continues to be rolled out for apparel tagging predominately, according to the report—that application alone will demand 8.7 billion RFID labels in 2017, representing less than 20 percent penetration of the total addressable market for apparel. In other areas, RFID in the form of tickets used for transit will demand 825 million tags, while and the tagging of animals continues to be a legal requirement in many more territories, with 480 million tags being used for this sector this year.
In total, IDTechEx expects that 18.2 billion tags will be sold in 2017 versus 15.2 billion in 2016. Most of that growth is from passive UHF (RAIN) RFID labels. However, UHF RFID tag sales by value will be 25 percent of the value of HF tag sales, mainly because HF tags used for security have a higher price point versus the cheaper, typically disposable labels used for tagging items.
This report provides detailed data and analysis of the entire RFID sector, based on research that has included interviews with RFID adopters and solution providers in various applicational RFID markets. For UHF, HF and LF RFID, the data provided includes numbers of tags, average sales price and total tag value for 24 application categories. Interrogator forecasts are broken down by frequency, and the total RFID value is given for the eleven largest RFID markets.
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