According to a new report issued this week by research firm Frost & Sullivan, the Asia-Pacific RFID market is expected to reach $2.17 billion in 2015, at a compound annual growth rate of 21.1 percent.
Despite a drop in exports, manufacturers are seeing significant support from governments in the region in the form of direct funding for vendor initiatives or subsidies to end users that want to adopt RFID solutions.
"The Japanese and South Korean governments have promoted extensive research in RFID to keep track of their high-valued assets," said Frost & Sullivan Industry Analyst Parul Oswal in a prepared statement. "South Korea is more aggressive than others, and the government is active in initiating funding for R&D, and for actual deployments."
For more information about the research findings, contact Donna Jeremiah, corporate communications, at email@example.com.