The latest RFID market research from IDTechEx finds that in 2012 the value of the entire RFID market will be $7.46 billion. This includes tags, readers and software/services for RFID cards, labels, fobs and all other form factors.
Up from $6.37 billion in 2011, the increase is attributed primarily due to growth of passive ultra-high frequency systems for tagging apparel. In retail, RFID is seeing rapid growth for apparel tagging demanding 1 billion RFID labels in 2012, with 1.35 billion tags forecasted for 2013.
It is also driven by governments doing two things. Increasingly, they make it a legal requirement to fit RFID (i.e. animal tagging in New Zealand and Europe). This also includes local governments committing to non-stop road tolling and library tagging to national governments increasingly buying national ID cards, passports and other forms of RFID.
Additionally, RFID in the form of tickets used for transit will demand 500 million tags in 2012. IDTechEx find that the RFID market will grow steadily over the next decade, rising four-fold in that period to $26.19 billion in 2022.
The recently updated “RFID Forecasts, Players and Opportunities 2012-2022” includes over 200 companies profiled. A detailed ten year forecast of the volumes of tags required, their value and the total market value for over 30 market segments are shared.