The value of the entire RFID market – tags, readers, software/services, labels, fobs and all other factors – will increase to $5.63 billion in 2010, according to a recent survey conducted by IDTechEx.
An increase from last year’s value of $5.03 billion, IDTechEx credits the growth to an increase in use of passive ultra high frequency tags used for asset tracking.
The biggest contributor to this growth will be government entities that are able to implement large RFID schemes such as animal tagging, transit ticketing, and people identification. The report also notes that apparel tagging will pick up steam, as retailers discover the benefits and make way into larger deployments.
IDTechEx also suggests the market for all RFID interrogators will skyrocket from $0.92 billion in 2010 to $4.99 billion in 2021.
To read more on the report click here.