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RFID market in 2006 - IDTechEx
27 Jan '06
4 min read
RFID development and application analyzer IDTechEx Ltd presented the RFID market in 2006.
IDTechEx has extensively researched the RFID industry to bring you new forecasts for the years ahead. Cumulative sales of RFID tags for sixty years until the beginning of 2006 total 2.4 billion, with 600 million tags being sold in 2005 alone.
In 2006, IDTechEx expect 1.3 billion tags to be sold. Of that about 500 million RFID smart labels will be used for pallet and case level tagging but the majority will be used for a range of diverse markets from baggage and passports to contactless payment cards and drugs.
In the short term large “closed loop” markets requiring high value RFID will remain very profitable and companies will seek to position themselves as the leader in hardware and integration in different vertical market segments.
Challenges with tag yield versus cost, frequency acceptance, specification creep and required performance levels are some of the key issues that are being resolved to grow the RFID market exponentially over coming years to be almost ten times the size in 2016 that it will be in 2006.
In 2016, IDTechEx see the value of the total market including systems and services to rocket to $26.23Bn from $2.71Bn in 2006 in value. The number of tags delivered in 2016 will be over 450 times the number delivered in 2006.
This includes many new markets that are being created, such as the market for Real Time Location Systems using active RFID. Indeed, the market for active RFID will itself be more than $6Bn in 2016.
IDTechEx has extensively researched the RFID industry to bring you new forecasts for the years ahead. Cumulative sales of RFID tags for sixty years until the beginning of 2006 total 2.4 billion, with 600 million tags being sold in 2005 alone.
In 2006, IDTechEx expect 1.3 billion tags to be sold. Of that about 500 million RFID smart labels will be used for pallet and case level tagging but the majority will be used for a range of diverse markets from baggage and passports to contactless payment cards and drugs.
In the short term large “closed loop” markets requiring high value RFID will remain very profitable and companies will seek to position themselves as the leader in hardware and integration in different vertical market segments.
Challenges with tag yield versus cost, frequency acceptance, specification creep and required performance levels are some of the key issues that are being resolved to grow the RFID market exponentially over coming years to be almost ten times the size in 2016 that it will be in 2006.
In 2016, IDTechEx see the value of the total market including systems and services to rocket to $26.23Bn from $2.71Bn in 2006 in value. The number of tags delivered in 2016 will be over 450 times the number delivered in 2006.
This includes many new markets that are being created, such as the market for Real Time Location Systems using active RFID. Indeed, the market for active RFID will itself be more than $6Bn in 2016.
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