“2009 has confirmed those assessments,” says RFID practice director Michael Liard. “All three of these RFID application and technology areas have shown strong growth, and today account for 9.3 percent of the total RFID market, with combined revenues of more than half a billion dollars. We expect the trend to continue in 2010 and beyond: apparel, asset management and active RFID should show a 12.7 percent combined compound annual growth rate through 2014, outpacing the overall RFID market growth. This is considered strong growth given the level of maturity of many RFID-based asset management applications.”
Asset tracking and management is showing particular applicability to work-in-process tracking, including spare parts and tools; Returnable Transport Items (RTIs); IT asset management; medical assets, rental item management (library books, media, laundry, etc.); and yard management. Active RFID-based solutions, including real-time location systems (RTLS), is expected to experience solid growth in a number of verticals, such as healthcare, manufacturing, aerospace and defense, transportation, and commercial services, in support of asset tagging, people tracking, and more. ABI Research’s ”RFID Annual Market Overview” study provides a comprehensive, detailed overview of RFID technologies, applications, and addressable vertical markets. It is intended to provide an actionable outline of the broad RFID market. It includes forecasts for RFID transponders, readers, software, and integration services.