A new report from ABI Research, a market research company specializing in emerging technology, has found that the total revenue earned from RFID transponders, readers, software and services is expected to exceed $5.6 billion in 2009, a 4.25% increase over 2008.
The report lists five application areas expected to receive the most growth within the next five years. They are as follows: supply chain management item-level tracking (22.9%), cargo tracking and security (22.7%), real time locating systems (28.2%), point-of-sale contactless payments (23.7%) and animal ID (22.8%).
In addition ABI projects the market for pallet, case, and item-level tracking across the supply chain to grow by 20.5 percent per year between 2009 and 2014, from $169.9 million to $431.6 million.
ABI Research Director Michael Liard credits the RFID market growth in the face of recession to the steady turnout of innovations creating new applications for RFID use in an ever-expanding professional arena.
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