FoodLogistics.com |

Starting from a base of more than $3.8 billion in revenue in 2007, worldwide RFID markets are expected to reach $8.4 billion in 2012, according to a new study from ABI Research. The 2007 figure represents a 24 percent growth over 2006, and the curve to 2012 indicates a compound annual growth rate of 21 percent.

"Given the recent amount of activity and anticipation surrounding RFID technology, one might be tempted to believe the RFID market has been experiencing explosive growth," says research director Michael Liard. “But while uptake of full-scale RFID systems remains slower than many in the industry had hoped, steady growth continues. There is an overall sense of cautious optimism in the market."

While few large RFID implementations have been announced, extensive pilot programs and closed-loop deployments are demonstrating the value propositions and cost justification for RFID. For example, WIP tracking in manufacturing and returnable transport items such as pallets and containers provide a significant return-on-investment and the opportunity to amortize the cost of transponders over several years.

The new ABI Research study is an overview of vertical and application markets for RFID systems. It is intended to provide an extremely detailed and comprehensive snapshot of the RFID industry landscape in all its variety, including application and vertical market considerations, end-user survey results, and key market trends. It also includes an informative "what's hot and what's not" section, designed to highlight top trends, applications, and more substantive developments.

The RFID Annual Market Overview is available at: http://www.abiresearch.com/products/market_research/RFID_Annual_ Market_Overview.