Current setbacks aside, RFID will revolutionise verticals, says ABI
19 June 2002
News
Frustration may mire the RFID industry today, but the future is still incredibly bright for the radio frequency identification (RFID) market. The market's somewhat reluctant approach to the technology will not last forever, as developing standards, new players and novel applications emerge. Allied Business Intelligence (ABI) reveals that by 2007, supply chain management and asset management applications will dominate RFID transponder shipments and related infrastructure investments.
Contribution of asset management and supply chain management transponder shipments – world market: 2002 and 2007
Tight purse strings and false expectations have stunted prior industry growth. Now, as the downturn in tech spending is digested across industries, RFID spending will increase as companies across verticals reinvent their processes to gain a competitive edge. Though expected to be slower in coming years, transponder shipment growth is expected to surpass a compound average rate of 30%. With the formation of standards, better end-user understanding and a drive to create more efficient processes, enterprises are expected to gradually adopt the technology as they reinvent themselves.
The recent announcement from Marks & Spencer to tag over three million reusable items is a clear example of this migratory path to RFID. Similar projects will propel this segment to triple-digit average growth by 2007.
"Clearly more processes will become RFID enabled in the future. The burning questions on everyone's mind, however, are who will be the leading technology providers behind these grand installations and to what extent will these application segments drive demand for RFID," states Edward A. Rerisi, ABI senior analyst and author of a new report called 'RFID: technology evolution, market segmentation analysis and player profiles'.
Key findings in the study include: Supply chain management and baggage tracking applications will experience rapidly accelerating triple-digit growth; Asset management and supply chain installations will account for over two-thirds of all transponder shipments by 2007; Required investments in RFID infrastructure alone will exceed $1,1 bn by 2007, as companies expand their RFID systems' reach.
For further information see www.alliedworld.com
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