Report Says Global RFID Market Will Continue Growing in Next Four Years

TechNavio has released its 2011-2015 Global RFID Market report, which studied radio frequency identification trends in America, the EMEA and APAC.

The report states that RFID technology in the healthcare segment is expected to grow in the future and that it will contribute to the global RFID market's overall growth.

"In the Healthcare segment, RFID technology along with Wi-Fi and voice over IP (VoIP) has been developed as a single information system to improve patient safety," said an analyst from TechNavio's hardware team.

According to the report, RFID is growing for several reasons: Large retail giants are requiring that RFID tags be used on pallets and many airports have incorporating RFID more in their baggage safety systms.

The report says that because RFID tags are accurate, it could redue labor time and cost significantly. But security and privacy concers may pose a challenge to the market's growth.

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