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RFID market set to grow consistently over 2014 to 2024

RFID market set to grow consistently over 2014 to 2024

Market news |
By eeNews Europe



This report provides the key data and analysis of extensive research including interviews with RFID adopters and solution providers in the various application RFID markets.

In 2013, the total RFID market is worth $7.88 billion, up from $6.98 billion in 2012, and growing to $9.2 billion in 2014. This includes tags, readers and software/services for RFID cards, labels, fobs and all other form factors. Our forecast that to rise to $30.24 billion in 2024.

In retail, RFID is seeing rapid growth for apparel tagging — that application alone demands 2.25 billion RFID labels in 2013. RFID in the form of tickets used for transit will demand 600 million tags in 2013. The tagging of animals (such as pigs, sheep and pets) is now substantial as it becomes a legal requirement in many more territories, with 375 million tags being used for this sector in 2013.

This is happening in regions such as China and Australasia. In total, 5.9 billion tags will be sold in 2013 versus 4.8 billion in 2012. Most of that growth is from passive UHF RFID labels, with UHF tag sales overtaking HF and LF tag sales by volume in 2012. However, in 2013 UHF tag sales by value will only be 11% of the value of HF tag sales.

This comprehensive report gives the complete picture covering passive RFID, battery assisted passive, active RFID, Real Time Locating Systems (RTLS) and chipless RFID.

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