RFID transponder use surges
Staff -- Control Engineering, 10/1/2006
Global market for RFID (radio frequency identification) transponders reached an estimated $750 million in 2005, according to Venture Development Corp.'s RFID Business Planning Service.
The company anticipates the market to show a compound annual growth rate (CAGR) of nearly 26% through 2010, with revenue shipments projected to exceed $2.3 billion within five years.
VDC lists current and future global shipments of RFID transponders segmented by distribution channel at:
- 2005 Direct: $371.4 million, Indirect: $375.7 million; and
- 2010 Direct: $1,091.1 million, Indirect: $1,254.9 million.
A primary issue facing the RFID industry is lack of qualified RFID resellers and integrators that can effectively market, sell, and implement EPC (electronic product code) supply chain solutions, VDC noted.
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