RFID to be Worth More Than $70 Billion Across Next Five Years, According to Research

  • Apr 18, 2012

The market for RFID transponders, readers, software, and services will generate $70.5 billion from 2012 to the end of 2017. The market was boosted by a growth of $900 million in 2011 and the market is expected to grow 20 percent YOY per annum. Government, retail, and transportation and logistics have been identified as the most valuable sectors, accounting for 60 percent of accumulated revenue over the next five years.

Group director John Devlin comments, “To date, the automotive sector has been a strong proponent of RFID, largely for immobilization and keyless entry. However, penetration is already high and it will be constrained by the slower rise in automotive production volumes. As a result, it will lose status as a leading RFID market due to other established markets for RFID retaining excellent potential for further adoption. Retail in particular is set to experience very strong growth; in fact, it will become the single largest RFID sector in 2015.”

Efficiency and improved operational capability are the overriding goals behind this adoption. Retail growth is driven by the proven returns that item level tagging can deliver. Stock is less likely to get lost, shop floors better stocked, and the ordering process will get smarter. RFID will cross over into customer-facing services with NFC for product information and smart marketing.

Government is a high-value sector, with strong uptake of contactless/RFID in documents and credentials. However, the drive for increased efficiency in applications such as asset tracking, fleet management, personnel location, and security are increasing the sector’s acceptance and uptake of RFID solutions.

Transportation and logistics increasingly make use of the ability to accurately track and trace items and goods at item, pallet, and container level as service providers look to generate more detailed data for themselves and their customers. Also, smarter public transit systems are utilizing contactless ticketing as the basis for better managed and cost effective services.

Featured

  • Ransomware Attacks Rise for the First Time in Six Months

    Ransomware attacks have risen for the first time in six months, increasing by 28% month-on-month to 421 attacks. While overall attack volume remained below 500, the uptick may signal a renewed escalation heading into the year’s most active period for cyber criminals. Read Now

  • Report: 47 Percent of Security Service Providers Are Not Yet Using AI or Automation Tools

    Trackforce, a provider of security workforce management platforms, today announced the launch of its 2025 Physical Security Operations Benchmark Report, an industry-first study that benchmarks both private security service providers and corporate security teams side by side. Based on a survey of over 300 security professionals across the globe, the report provides a comprehensive look at the state of physical security operations. Read Now

    • Guard Services

  • Identity Governance at the Crossroads of Complexity and Scale

    Modern enterprises are grappling with an increasing number of identities, both human and machine, across an ever-growing number of systems. They must also deal with increased operational demands, including faster onboarding, more scalable models, and tighter security enforcement. Navigating these ever-growing challenges with speed and accuracy requires a new approach to identity governance that is built for the future enterprise. Read Now

  • Eagle Eye Networks Launches AI Camera Gun Detection

    Eagle Eye Networks, a provider of cloud video surveillance, recently introduced Eagle Eye Gun Detection, a new layer of protection for schools and businesses that works with existing security cameras and infrastructure. Eagle Eye Networks is the first to build gun detection into its platform. Read Now

  • Report: AI is Supercharging Old-School Cybercriminal Tactics

    AI isn’t just transforming how we work. It’s reshaping how cybercriminals attack, with threat actors exploiting AI to mass produce malicious code loaders, steal browser credentials and accelerate cloud attacks, according to a new report from Elastic. Read Now

Most   Popular

New Products

  • Camden CV-7600 High Security Card Readers

    Camden CV-7600 High Security Card Readers

    Camden Door Controls has relaunched its CV-7600 card readers in response to growing market demand for a more secure alternative to standard proximity credentials that can be easily cloned. CV-7600 readers support MIFARE DESFire EV1 & EV2 encryption technology credentials, making them virtually clone-proof and highly secure.

  • 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.