Interviews
In RFID, lies the future!
21 Feb '06
2 min read
Radio Frequency Identification (RFID) technology is here to stay!
Once considered costly, impractical and wishfully thought, this technology has come to the fore as mega corporates and retailers have all "come home to roost its chickens."
Having wide spread applications; from retailers' shelves to monitoring and tracking of material movements, RFID is indeed creating the GenNext revolution, albiet in a silent manner.
A recently released report released by Deutsche Bank Research Division and authored by Stefan Heng states that RFID market is set to grow by 57 percent from the year 2004 to 2010.
By the year 2010, the world RFID market is set to rise up to almost Euro 22 billion.
Big ticket retailers like Wal-Mart, K Mart, Sears from the US, and Marks & Spencer of UK, have all implemented RFID technology not only at their mega stores, but also insist on their suppliers tag their consignments and contents with chips that have considerably reduced on the cost front over a period.
Price and visibility were major factors reasoned by retailers usually while implementing the technology. But now, its an old story as prices of chips have come down to almost 10 cents depending upon the application.
Besides, the technology seems to have gone beyond merely tagging a product to invading privacy of innocent shoppers who aretagged or kept under surveillance by companies to note their buying preferences and track consumer trends surreptitiously.
Once considered costly, impractical and wishfully thought, this technology has come to the fore as mega corporates and retailers have all "come home to roost its chickens."
Having wide spread applications; from retailers' shelves to monitoring and tracking of material movements, RFID is indeed creating the GenNext revolution, albiet in a silent manner.
A recently released report released by Deutsche Bank Research Division and authored by Stefan Heng states that RFID market is set to grow by 57 percent from the year 2004 to 2010.
By the year 2010, the world RFID market is set to rise up to almost Euro 22 billion.
Big ticket retailers like Wal-Mart, K Mart, Sears from the US, and Marks & Spencer of UK, have all implemented RFID technology not only at their mega stores, but also insist on their suppliers tag their consignments and contents with chips that have considerably reduced on the cost front over a period.
Price and visibility were major factors reasoned by retailers usually while implementing the technology. But now, its an old story as prices of chips have come down to almost 10 cents depending upon the application.
Besides, the technology seems to have gone beyond merely tagging a product to invading privacy of innocent shoppers who aretagged or kept under surveillance by companies to note their buying preferences and track consumer trends surreptitiously.
Deutsche Bank Research
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