Even as the industrial, retail, logistics, automotive and other such industries have suffered fir to the financial crisis, the RFID industry is continuing to grow in the healthcare, pharmaceutical, airline, manufacturing and other similar sectors. The continued investment of RFID providers for these industrial sectors may have caused this continued upsurge in sales. Another reason is that newer opportunities are being discovered due to the search for new markets for the product by RFID providers. They are also concentrating on creating income as well as modernization. Modernization of the RFID product includes real-time tracking, potential use in manufacturing, storage, delivery and distribution. Due to enhanced features on their usage as well as a return on investment, buyers of RFID technology are optimistic. Another motivation is the allotment of frequency and standardization of the RFID band is given some importance by the governments of several countries. Interoperability as well as market integrity will be guaranteed. For instance, a national ID card system using RFID was given funding by the Chinese government; and investment in the military for the US; as well as passports for the British government. Furthermore, the fight against terrorism, crime and outbreaks of disease can be facilitated through the use of the RFID by the governments of different countries
TechNavio Insights is giving an estimate on the global RFID market for the period that started in 2008 until 2012. The market is divided into several geographic areas. The partitioning of the RFID market is done depending on the frequency and technology used. In addition, the report talks about the main market drivers according to their industry, the trend of the market, difficulties and potential for the Global RFID market, and a rundown on the main sellers in the market.
The reports from TechNavio Insights come from a market intelligence platform for the IT industry – TechNavio. It develops the reports based on the intelligence available from TechNavio and influences the custom research experience of the Technology Navigator. Years of experience in Infiniti Research in deep dive custom research and consulting for more than thirty Fortune 500 businesses and several large and middle size businesses has formed the basis for TechNavio.
