This article was originally published by RFID Update.
February 1, 2007—Research firm IDTechEx of Cambridge this week released the 2007 update to its annual ten-year forecast on the RFID market. Entitled RFID Forecasts, Players & Opportunities 2007-2017, the report is 224 pages and sells for $3,500 online. IDTechEx has published some of its key predictions for 2007, highlighted below:
- The company expects 1.71 billion tags will be sold this year across all sectors, from supply chain to retail to public transport to national ID cards.
- Case- and pallet-tagging, driven largely by U.S. mandates, will contribute 420 million units to this total, rising to one billion in 2009. (IDTechEx noted that early 2006 predictions for case- and pallet-level tags were in the 500 to 600 million range, but that only about one-third of that was ultimately sold.)
- The aggregate value of the RFID market will be just shy of $5 billion in 2007.
- The largest piece of the market will be RFID cards, contributing $2.99 billion. The remaining $1.97 billion will come from supply chain labels, tickets, fobs, etc.
- Excluding the RFID card business, the U.S. market will continue to dominate globally, with 58.4 percent. Europe will have 33 percent. If the RFID card business is taken into account, China is the dominant market, thanks in large part to its national ID card initiative.
- IDTechEx predicts the RFID market value will hit $27.88 billion ten years from now, in 2017.
Read the article from IDTechEx
