According to a new report being offered by market research firm RNCOS, the European share of the global RFID market will reach 40% in the next eight years. The report, “European RFID Industry Outlook 2007-2010,” predicts heavy growth in the retail sector’s use of the technology.
The report points to signs that major retailers such as Metro and Tesco are exploring a large-scale investment in RFID throughout their supply chains. RNCOS believes that SKU-level tracking will become predominant, with more high-value items tagged at the item level. Overall, the retail industry’s demand is predicted to surpass 3.4 million individual tags by 2010.
In addition to major retailers, the RNCOS report looks at growing interest in RFID among the continent’s food manufacturers and logistics service providers.