21 May 2008
ABI Research has forecast that the total market for RFID (radio frequency identification) will sees revenues of $9.7 billion (£4.9 billion) in 2013, representing a compound annual growth rate of 15 per cent from 2008.
The analyst explained that the market for the identification and tracking technology is growing robustly, due in large part to long-term investments by large end-user enterprises.
"Across all product categories and flavours of RFID technology, market trends continue to be positive," said Michael Liard, research director at ABI Research. "We saw a strong finish to 2007, which continued into a healthy first quarter 2008."
According to ABI Research, enthusiasm for RFID technology has spread throughout a number of vertical markets, such as energy and utilities, transportation and retail.
It found that asset management and tracking, supply chain management and security/access control remained the most popular uses of RFID deployments.
Last month, the analyst reported that the global mobile device market saw 289 million shipped units in the first quarter of 2008, predicting that as many as 1.28 billion devices will be shipped throughout the entire year, a 12 per cent increase on 2007.
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