RFID commercial applications are now widespread, and the market reached US$2.8 billion in 2009

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RFID commercial applications are now widespread, and the market reached US$2.8 billion in 2009 [Copy link]

[Abstract] Market research firm In-Stat recently predicted that as RFID technology is increasingly used in the commercial field, the global RFID tag market will grow from $300 million in 2004 to $2.8 billion by 2009, and other hardware and software industries related to RFID technology will also grow and develop accordingly.
However, since RFID tags are still relatively expensive, it will take several years for this technology to be truly widely adopted by the industry. The current price of RFID tags ranges from 15 cents to more than $100. From the current perspective, the largest RFID market in the next few years will be the packaging supply chain, which will consume the largest number of tags and labels from 2005 to 2009. Wal-Mart has required major suppliers to use this technology, which has promoted the development of related markets. The second largest market for RFID is estimated to be consumer products, although this market is also one of the areas that are more sensitive to privacy. Privacy issues are still a concern for many RFID applications, and governments and relevant departments around the world are now considering relevant legislation.
A recent research report published by Venture Development Corporation (VDC) points out that due to the loss of traditional retail equipment, POS terminals, barcode scanners and receipt printers have become increasingly saturated, and technologies such as RFID have gradually become the new favorites in the market, and will achieve an annual growth of more than 10% in the future. RFID suppliers have experienced success with top European retailers such as Casino, Leclerc and Carrefour. Although North American retailers have not yet started using RFID equipment, many top retailers have begun to evaluate and try similar systems.
RFID was initially limited to automated payment applications in retail stores. However, in the retail supply chain, RFID is at the center of the conversion, and only a small amount of work needs to be done at the terminal level of the store (i.e., POS, inventory replenishment, shelf totals), and most of the work is done by the automatic payment system. The Chip & PIN Promotion Organization in Europe has set a deadline for the application, which will promote the sales of smart cards and RF payment terminals in the region.
VDC analysis believes that when the economic downturn from 2000 to 2002 began to pass, retailer sales began to recover, and many manufacturers increased their investment in technology upgrades, installations and trials of new systems, which were previously delayed due to budget constraints. The first to be updated include outdated traditional POS systems and scanners. Once the main systems are updated, these leading retailers will begin to evaluate and adopt the latest technologies such as ESL, RFID and self-checkout stations.
The survey results of the American professional consulting agency "Deloitte & Touche" predict that wireless tags will become an emerging industry this year, with applications in the retail and automotive industries, and their functions are to reduce theft, avoid waste and improve productivity. In 2005, RFID will complete the laboratory test stage and be put into commercial market use. By the end of this year, more than 10 billion RFID tags will be sold and used. Global retail giant Wal-Mart and the largest supermarket chain Tesco in the UK both intend to adopt RFID technology, embedding RFID chips into the plastic tags of the products they sell, to complete the functions of quickly checking goods, purchasing inspection and improving supply capacity. Taking Wal-Mart as an example, after adopting RFID technology, all purchase lists are automatically controlled, which will greatly reduce labor costs and save 1.3 billion US dollars in operating costs each year.

Source: JiShi.com