RFID market grows 15% in one year - to $8.9 billion in 2014
Mar 25, 2014 Raghu Das
New research conducted by IDTechEx finds that the RFID market - including tags, readers, software and services, for passive and active RFID - will grow from $7.77 billion in 2013 to around $9 billion in 2014. Most growth is due to active RFID/RTLS systems, interrogators, and then tags, in terms of total money spent.
Passive UHF tags see rapid growth, from a total of just over 3 billion tags in 2013 to almost 3.9 billion tags in 2014. IDTechEx find that 2.48 billion passive HF tags will be sold in 2014, although at a much higher average sales price than passive UHF tags, so the money spent on HF tags will be almost ten times more. The highest volume sector for passive UHF systems is retail apparel, which still has some way to go with RFID penetrating only about 7% of the total addressable market for apparel in 2014.
After extensive interviews with suppliers, IDTechEx find that there are now emerging or established leaders in most positions of the value chain across the different technologies - yet still very few companies have sales of more than $100 million.
IDTechEx expect that the RFID market will reach over $27 billion in 2024. This research was conducted for the report RFID Forecasts, Players and Opportunities 2014-2024 which provides the key data and analysis in all the main applications, giving an unprecedented level of insight into the total RFID industry and what is really happening. With over 90 tables, the report provides granular insight into the sector.