Vsurance Excited About Growth for Animal, Food, Farming RFID Markets
27 October, 2007
category: RFID
IDTechEX, the leading independent research and consulting firm specializing in RFID technology, published findings that the RFID market for industries related to Animals, Food, and Farming will reach $9.4 Billion by 2017.
And at least one company – Vsurance – is using this data to tout its wares. The company recently acquired Animal-ID, an Arkansas-based company that provides livestock producers, feedlot owners, and others with easy-to-use inventory control, tracking and management tools.
“The report by IDTechEX illustrates the tremendous market opportunity for RFID technology over the next ten years and beyond,” commented Russell Smith, CEO of Vsurance, Inc., in a press release, “As the animal population continues to grow, the need for RFID technology will increase correspondingly. With our recent acquisition of Animal-ID with its RFID animal tracking system, Vsurance is positioned to capitalize on this booming market.”
Leading Independent Research Firm IDTechEX Reports Market for Radio Frequency Identification (RFID) of Animals, Food, and Farming to Reach $9.4 Billion by 2017
Animals, Food, and Farming to be Largest Market for RFID Technology
SANTA ANA, Calif.–(BUSINESS WIRE)–Vsurance, Inc. (OTCBB:VSUR) a leading provider of pet health insurance reported today that IDTechEX, the leading independent research and consulting firm specializing in RFID technology, published findings that the market for Radio Frequency Identification (RFID) of Animals, Food, and Farming will reach $9.4 Billion by 2017, making it the largest market for RFID technology.
The comprehensive 253 page report included 45 case studies and was written and spearheaded by Dr. Peter Harrop PhD, Chairman of IDTechEx Ltd. A recognized expert on RFID, Dr. Harrop has authored 14 books on various technical subjects and currently lectures internationally on RFID, smart labels, printed/organic electronics, and smart packaging.
Vsurance entered this burgeoning RFID industry yesterday through the acquisition of Animal-ID, an Arkansas-based company that provides livestock producers, feedlot owners, and others with easy-to-use inventory control, tracking and management tools.
“The report by IDTechEX illustrates the tremendous market opportunity for RFID technology over the next ten years and beyond,” commented Russell Smith, CEO of Vsurance, Inc. “As the animal population continues to grow, the need for RFID technology will increase correspondingly. With our recent acquisition of Animal-ID with its RFID animal tracking system, Vsurance is positioned to capitalize on this booming market.”
To Read More On the IDTechEX Report Click the Link: http://www.idtechex.com/products/en/articles/00000729.asp