The market for RFID solutions, including transponders, readers, software, and services, is expected to generate more than $70 billion between 2012 and the end of 2017, according to a new report from ABI Research.
According to a statement, the market was boosted by a growth of $900 million in 2011 and the market is expected to grow by 20 percent year-over-year.
ABI said that government, retail, transportation and logistics were the most valuable sectors and will account for 60 percent of accumulated revenue of the next five years.
Despite a push by the automotive industry in using RFID solutions for immobilization and keyless entry, ABI Group Director John Devlin said that retail will become the single largest RFID sector in 2015. Government agencies are also expected to increase their adoption of RFID.
"Government is a high-value sector, with strong uptake of contactless/RFID in documents and credentials," ABI said in the statement. "However, the drive for increased efficiency in applications such as asset tracking, fleet management, personnel location, and security are increasing the sector’s acceptance and uptake of RFID solutions."
For more information about the "RFID Market by Application and Vertical Sector" report, visit http://www.abiresearch.com/research/1003629.