RFID market to exceed $5.6B in revenues in 2009

According to a new report issued by New York-based ABI Research, the market for various RFID solutions is expected to exceed $5.6 billion in 2009.

Though the economy is expected to have an impact on the deployment of such solutions, the study, “RFID Annual Market Overview,” predicts that RFID technology will be seen by enterprise class users as a cost savings solution.

“In fact, many industry participants contacted by ABI Research feel current conditions are challenging but may only represent a small bump in overall RFID adoption,” Analyst Michael Liard said in a prepared statement. “However, there is a sense that vendor performance and end-user activity during (the first quarter) and (second quarter of) 2009 will be critical bellwethers for overall near-term RFID market growth within traditional and modernizing applications.”

For more information about the study, visit ABI Research’s Web site at www.abiresearch.com or call 516-624-2500.