TECHNOLOGY
Survey: RFID Poised to Hit $23.4 Billion in 2020
A new survey has RFID—radio frequency identification—technology on track to reach $23.4 billion in 2020.
According to “RFID Forecasts, Players & Opportunities 2014–2024,” released by IDTechEx Research, the RFID market—which includes RFID tags, readers and the related software and services for all industries—is currently $7.98 billion, up from $6.98 billion last year.
Government usage of RFID tags in transportation, security and specific industries, such as livestock tagging, is driving the demand. For apparel retailers, the use of passive UHF (ultra-high frequency) RFID tags, is also on the rise. According to IDTechEx Research, apparel retailers will purchase 2.25 billion passive UHF RFID labels this year.
The “RFID Forecasts, Players & Opportunities 2014–2024” report covers historical and forecast data for the RFID market by application, tag type and territory.
For more information, visit www.idtechex.com.
