New forecasts predict that the total global RFID market will turnover approximately $9.7bn by 2013.
ABI Research said that the figure represents a 15 per cent compound annual growth rate for the sector from 2008.
"These figures highlight an RFID market that is growing robustly," said ABI Research director Michael Liard.
"Across all product categories and flavours of RFID technology, market trends continue to be positive. We saw a strong finish to 2007, which continued into a healthy 1Q 2008."
Growth is due to major sponsors of the technology such as European aerospace manufacturer Airbus, which recently announced a significant commitment to RFID for numerous projects throughout its supply chain and assembly operations.
In January, Sam's Club announced an RFID customer compliance programme, while in Europe and Asia, Metro AG is interested in RFID supply chain applications. Most recently, the US Department of Defense backed the use of RFID.
"Future RFID market growth will come from many sources and applications. ABI Research sees growing strength across many industries, including applications unique to particular verticals, as well as those that are common to a range of verticals," said Liard.
Final code promised for later this year 17 Apr 2008
Radio chips used to track people and animals 06 Mar 2008Businesses moving out of trial period, says Gartner 27 Feb 2008
Demand for rich media and online services spurring growth, says Cisco 11 Jun 2009
Analyst iSuppli reveals its projections for LCD-TV shipments have been cut due to reduced spending 27 Nov 2008
European IT services market set to enter negative growth in 2009 as training and project revenue dries up 12 Jun 2009
2008 started well, but crashed in the third and fourth quarters 30 Jan 2009
New European document processing centre to open in the UK 25 Nov 2008
Survey of public sector IT managers reveals deep concern over ability to deliver on carbon-neutral targets 03 Jul 2009
Fresh funding will provide new wave energy research equipment and support research 03 Jul 2009
EPA hints it could soon raise efficiency bar for routers, modems and storage systems 03 Jul 2009
More news
From record-breaking solar panels to the International Renewable Energy Agency's new home, we round up the top stories from the past week 03 Jul 2009
Well, I hope they got a no win, no fee deal. I don't like being cynical (it's more of a congenital thing)... 03 Jul 2009
Recycling waste heat is nothing new, so why has the computer industry not kept up? 01 Jul 2009 More in-depth
Post your comment
Send an email to the Business Green editor at feedback@businessgreen.com
