RFID Market Booming

Analyst IDTechEx estimates that the current market for RFID will increase in size by about 12 times before 2016, as more businesses seek to take advantage of the technology to oversee supply chain management and procurement.

Currently active RFID accounts for around 20 per cent of all RFID sales but the latest figures suggest that the value of such sales could increase from around from $550 million (£296.2 million) to $6.78 billion (£3.7 billion) over the next ten years.

Since active RFID tags have their own internal power source, they are generally seen as more reliable than standard tags. What’s more, they can be used in more challenging environments including metal storage containers and underwater.