ABI Research: RFID Industry Will Reach $5.6 Billion This Year

The RFID industry is being slowed, but not stalled, by the recession, according to ABI Research. The company's latest market data shows that total revenue earned from RFID transponders, readers, software and services will exceed $5.6 billion by the end of 2009. "The recession has had an undeniable effect on deployment plans," said ABI Research practice director Michael Liard. "Despite some project deferrals and terminations, there will be market growth, albeit fragmented."

The RFID market is "worthy of cautious optimism in the near to mid-term, particularly in the closely-watched passive UHF segment," said ABI Research. And while the RFID industry, like most others, is struggling, the researchers said they "would not characterize it as being in a state of despair or turmoil."