News Article
RFID market set to take off
The market for radio frequency identification (RFID) chips – which are set to be incorporated into the next generation of payment cards, price labels and product identification tags – is set to grow rapidly over the next five years, according to market researcher In-Stat.
The market for radio frequency identification (RFID) chips – which are set to be incorporated into the next generation of payment cards, price labels and product identification tags – is set to grow rapidly over the next five years, according to market researcher In-Stat.
The company believes that the RFID tag market will expand from $300 million a year today to $2.8 billion in 2009.
The expansion will be driven by growing use of RFIDs in cartons and the supply chain by large retailers and distributors such as US retail giant Wal-Mart.
