Growth will be led by disposable RFID sensors, such as smart active labels, as well as real time locating systems, said the report from IDTechEx.
The need to track, locate and monitor products and employees will be the single most significant driver for the growth, said the researchers.
Important factors are increased competition in consumer goods, terrorism, threatened disease epidemics and consumers demanding better service and more information, said the report.
Also, RFID tags will become cheaper and smaller by 2016, which will help fuel growth.
Currently, healthcare and air industry markets are the biggest consumers of RFID tags. In both cases, the customers are prepared to pay for quality and readability, and prices are not in free fall, said the researchers.
Retail and government mandates continue to drive the growth, said IDTechEx.
While the US has the world’s most booming RFID market, with its share of RFID case studies rocketing from 20% to 40% of the whole in the past 18 months, nearly twice as many countries reported RFID projects.
The researches noted, however, that G2 Microsystems, an Australian company that designed the lowest power, lowest cost WiFi chip on the market, set up its headquarters in the US. Many Israeli and European RFID suppliers are following suit, noted the report.
On the whole, there are about 1,000 RFID vendors around the world with an increasing number of mergers and acquisitions still failing to stop the growth in numbers not what the customers want to see, said the report.
There also are about 10,000 cases of RFID deployment globally, with about 60 new projects launching each month, according to IDTechEx.
