Global RFID spending to explode

 

Global revenues for radio frequency identification (RFID) products will grow by almost a third this year to reach US$1.2 illiobn..

Analyst firm Gartner said that the upward trend is set to continue, and that worldwide revenues will top US$3.5 billion within the next four years.

"The market for RFID technologies has begun to transition from compliance-oriented to revenue-generating and innovative," said Gartner analyst Chad Eschinger in a statement.

"Early adopters faced tight profit margins and pressed technology providers for lower hardware costs. Fortunately for the market, this trend has waned and innovation rather than cost is becoming a key driver for adoption."

As companies move from pilot projects to a new "exploration phase", important drivers include the need to comply with new regulations and a growing thirst for in-store inventory management projects, according to Gartner.

However, the analyst warned that customers remain cautious. "While the interest for RFID technologies is high, today's buyer is more discriminating and is cautious of over-hyped technologies," said Eschinger.

"They will be looking for greater functionality and return on investment."

Copyright ©v3.co.uk


Global RFID spending to explode
 
 
 
Top Stories
The ethics of security
[Blog post] Where did that zero-day go?
 
Rio Tinto's big data play delivers promised ore
Returns trickle in from long-term technology investment.
 
Time management tips for CIOs
[Blog post] How to get to the genba.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Which is the most prevalent cyber attack method your organisation faces?




   |   View results
Phishing and social engineering
  70%
 
Advanced persistent threats
  3%
 
Unpatched or unsupported software vulnerabilities
  10%
 
Denial of service attacks
  6%
 
Insider threats
  11%
TOTAL VOTES: 1148

Vote