Radio-Frequency Identification (RFID) is the use of radio waves to read and capture information stored on a tag attached to an object.
A tag can be read from up to several feet away and does not need to be within direct line-of-sight of the reader to be tracked.
Smart retail and logistics are two areas expected to largely benefit from RFID technology as this will allow manufacturers and/or retailers to control stock more effectively.
RFID is big business, find out how big on the next page.
The Radio-Frequency Identification market is expected to reach $13.2bn in value, according to IDTechEx.
This is a growth from 2015’s $10.1bn, and up from $9.5bn in 2014 and $8.8bn in 2013. RFID in the form of tickets used for transit will demand 800 million tags in 2016.
The analyst firm estimates that in 2015, 8.9 billion tags were sold and 10.4 billion will be sold in 2016.
