Forecast: RFID Market To Reach $9.8 Billion By 2013

The worldwide RFID market will exceed $5.3 billion in 2008, according to a new forecast from ABI Research. Annual revenue growth will increase over the next five years, accelerating over the mid-term as high-growth, high-volume applications such as supply chain management, ID documents, ticketing and contactless payment drive shipments.

Excluding automobile immobilization, the market is expected to experience a 15 percent compound annual growth rate (CAGR) from 2008 through 2013. Forecasts peg the market at $9.8 billion in 2013, or approximately $8.2 billion without automobile immobilization.

“To a casual observer the five-year CAGR for the RFID market as a whole may not seem impressive at face value,” said research director Michael Liard. “In this case, however, ABI Research notes that traditional applications with single-digit and low-double digit five-year compound annual growth rates continue to dominate current and near-term RFID market revenue share. In terms of overall market growth, if these ‘traditional’ applications -- access control, automatic vehicle identification, automobile immobilization, and ID documents -- are removed from the equation, the 2008-2013 CAGR for total RFID systems revenue exceeds 20 percent.”

ABI Research believes it is still too early to tell what impact the state of the global economy will have on the RFID market. Investments are still being made in RFID companies, consolidation continues, and contracts are being awarded.

“We understand that the impact of economic events is often not immediate, however, and we expect to be in a better position to gauge how the economy is impacting RFID adoption and spending at the end of the year,” Liard said. “In our opinion, it often takes three to six months for any economic impact to be felt. Many of the vendors and users we have asked about a potential slowdown indicate no real change in RFID projects as yet.”

Featured

New Products

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises.

  • Camden CM-221 Series Switches

    Camden CM-221 Series Switches

    Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings.

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction.