According to new figures from market research firm ABI Research, the global RFID systems market is expected to reach $5.3 billion by the end of 2011, a year-over-year growth of more than 16 percent. The market is forecast to reach $4.6 billion by the end of 2010.
In a statement, the firm cited "massive retail deployments," growth in asset tracking and management applications and an explosion in demand for passive UHF transponders as some of the biggest drivers for the market’s growth.
"Item-level apparel tracking is probably the biggest area to watch in 2010-2011 and beyond, especially due to Wal-Mart’s 'jeans and basics' tagging announcement," ABI Analyst Michael Liard said in the statement. "JCPenney, Marks & Spencer, and American Apparel among others remain key retailers to watch given their existing programs and deployment plans."
For more information, visit ABI Research’s Web at www.abiresearch.com or call 516-624-2500.