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RFID market to reach US$2.7 billion this year and keep on soaring: IDTechEx

Independent analyst firm IDTechEx projected today that the worldwide Radio Frequency Identification (RFID) market w...


January 17, 2006  


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Independent analyst firm IDTechEx projected today that the worldwide Radio Frequency Identification (RFID) market will skyrocket to US$26.2 billion by 2016 from the anticipated US$2.7 billion in revenues expected to be generated this year.

The company said growth will be driven by the tagging of high volume items — notably consumer goods, drugs and postal packages — at the request of retailers, military forces and postal authorities as well as for legal reasons.

“In these cases, the primary benefits sought will be broader and include cost, increased sales, improved safety, reduced crime and improved customer service,” it said.

Future trends and current market conditions will be discussed at length April 4-5 at the 2006 Canadian RFID Conference taking place in Markham, Ont.

Participating vendors will include RFID Canada, Philips, IBM, Texas Instruments, HP, Deloitte, Datamax and Toshiba. Further information on the conference is available at www.rfidcanada.com.