How Is the RFID Market Doing?

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