Posted on Friday, May 28th, 2010 at 1:50 pm
Despite the economic doldrums which required downward adjustments to ABI Research’s RFID forecasts for 2009 and 2010, the outlook is good for steady growth through the next five years, according to new market data just released by the firm. Practice director Michael Liard reports: “We expect the overall RFID market to exceed $8.25 billion in 2014, or approximately $7.46 billion with automobile immobilization excluded. That would represent a 14% compound annual growth rate (CAGR) over the next five years.” (Automobile immobilization is the largest single RFID application and has a low growth rate which impacts overall market size, so it is often excluded when examining market trends.) This year alone, the RFID market appears set to reach a size of $4.47 billion (without automobile immobilization), 15% more than the adjusted 2009 figure. Other key opportunities include Electronic Vehicle Registration, continued penetration of RFID-enabled e-ID/e-government documents (including health cards), and continued expansion of library systems.
