Global RFID Market to Generate Revenue of US$ 11 Billion by 2013

The global RFID market is projected to grow at a CAGR of over 28% during 2010-2013 on account of rapid adoption of technology by different industries, says RNCOS.

Noida, India, February 25, 2010 --( The global RFID industry has been steadily growing for past few years, and is expected to pick up pace before stabilizing and settling on a steady growth path. The industry is greatly benefiting from the excitement related to mandates, entry of new players, re-positioning of some companies as they focus on new products and services launch, technology advances, standards evolution, partnerships and alliances, mergers and acquisitions and general market awareness.

According to their research report “Global RFID Market Analysis till 2010”, the global RFID market is projected to grow at a CAGR of over 28% between 2010 and 2013 and will generate revenue of around US$ 11 Billion by 2013 end. The report further states the role of RFID software will become more critical in future with the expansion of existing solutions and launching of specialize applications by service providers. The share of hardware in RFID market revenue will decline, whereas the RFID software and services segment will raise their revenue. Thus, the share of software will increase from around 20% in 2008 to around 30% by 2013 end.

The report also studies the application of RFID technology across a wide range of industries which helps to understand the current and future market outlook of RFID in different verticals. For instance - the adoption of RFID technology in healthcare, retail, automotive, consumer packaged goods, government sector and transportation sector has been quite impressive in the backdrop of growing number of business threats and to bring economy of scales.

"Global RFID Market Analysis till 2010" provides an extensive research and prudent analysis of the RFID market worldwide. It contains valuable data, comparable statistics and reliable information of different geographical regions – North America, Europe, Asia-Pacific and Middle East - to illustrate the current and past market trends. The report also helps clients to analyze opportunities and factors critical for the uptake of RFID technology both in short and long-term.

The report also includes a section of growth inhibitor in which clear and precise information about the challenges currently faced by the RFID market has bee been given. It enables clients to evaluate the probable complexities in the market before making decision on investment.

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About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

Shushmul Maheshwari
Chief Executive
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