A new study reveals the market for RFID transponders, readers, software and services will generate more than $70.5 billion from 2012 to the end of 2017.
The latest study from ABI Research, “RFID Market by Application and Vertical Sector,” provides an overview and summary of the impact that the latest product launches, new entrants and changing market dynamics will have on the future direction and evolution of the market.
In 2011, the market was boosted by a growth of $900 million, and is expected to grow 20% year over year per annum. Government, retail and transportation and logistics have been deemed the most valuable sectors, accounting for 60 percent of accumulated revenue over the next five years.
As organizations look to increase efficiency and improve operational capability, retail in particular is set to experience very strong growth, and on track to become the single largest RFID sector in 2015.