ABI Research has issued a new report forecasting that the global RFID industry will be valued at $9.7 billion by 2013, equaling roughly a 15% compound annual growth rate over the next five years.
The recent announcements of major RFID projects by large end-users such as Airbus, Sam’s Club and the U.S. Department of Defense are part of the reason for the rosy forecast. But there is also a general enthusiasm for the technology among smaller users across a number of industries. Energy companies, health care providers, transportation providers and specialty retailers all are investing in RFID, especially for asset management applications.
“These figures highlight an RFID market that is growing robustly,” says ABI Research Director Michael Liard. “Across all product categories and flavors of RFID technology, market trends continue to be positive. We saw a strong finish to 2007, which continued into a healthy 1Q 2008.”