How Is the RFID Market Doing?

By RFID Journal

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Ask The ExpertsHow Is the RFID Market Doing?
RFID Journal Staff asked 11 years ago
What is the size of the entire market for RFID hardware, software and services, and what is its compound annual growth rate?

—Name withheld

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ABI Research is one of the companies that tracks the size of the RFID market and its growth. In March of this year, the firm issued a press release indicating the market would reach $4.47 billion in 2010 (excluding sales of RFID systems used for automobile immobilization), which represents a 15 percent increase over the adjusted 2009 figure.

ABI also reported that it expects the RFID market to exceed $8.25 billion in 2014, or approximately $7.46 billion with automobile immobilization excluded. That would represent a 14 percent compound annual growth rate (CAGR) over the next five years (see RFID Market to Reach $5.35 Billion This Year).

—Mark Roberti, Editor, RFID Journal

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