RFID Market To Top $5.3 Billion This Year, Says ABI Research

RFID sales globally will be more than $5.3 billion this year, with supply chain management, ID documents, ticketing and contactless payment drive shipments leading the way, according to a report released Monday (Nov. 3) by ABI Research.

If you take automobile immobilization out of the picture, RFID is slated to grow at a 15 percent compound annual growth rate (CAGR) from 2008 through 2013, and ABI projects the market will be worth about $9.8 billion in 2013. Said Research Director Michael Liard: "To a casual observer, the five-year CAGR for the RFID market as a whole may not seem impressive at face value. In this case, however, traditional applications with single-digit and low-double digit five-year compound annual growth rates continue to dominate current and near-term RFID market revenue share. If these traditional applications—access control, automatic vehicle identification, automobile immobilization and ID documents—are removed from the equation, the 2008-2013 CAGR for total RFID systems revenue exceeds 20 percent."