2014-04-01 00:33:01 - RFID Forecasts, Players and Opportunities 2014-2024 - a new market research report on companiesandmarkets.com
The global RFID market is worth $7.88 billion, up from $6.98 billion in 2012, and growing to $9.2 billion in 2014. This includes tags, readers and software/services for RFID cards, labels, fobs and all other form factors. IDTechEx forecast that to rise to $30.24 billion in 2024.In retail, RFID is seeing rapid growth for apparel tagging - that application alone demands 2.25 billion RFID labels in 2013. RFID in the form of tickets used for transit will demand 600 million tags in 2013. The tagging of animals (such as pigs, sheep and pets) is now substantial as it becomes a legal requirement in many more territories, with 375 million tags being used for this sector in 2013. This is happening
in regions such as China and Australasia. In total, 5.9 billion tags will be sold in 2013 versus 4.8 billion in 2012. Most of that growth is from passive UHF RFID labels, with UHF tag sales overtaking HF and LF tag sales by volume in 2012. However, in 2013 UHF tag sales by value will only be 11% of the value of HF tag sales.
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