RFID in 2006: Strides Made but Revenues Still Lag
published: cw 05, 2007 in Supply Chain Technology & RFID2006 was a challenging year for the RFID industry - sales expectations fell short, a high-profile IPO did not materialize, and the market continued to be “commoditized before it is commercialized.” Nevertheless, investment in RFID remained strong and the industry made significant strides toward resolving standards-related issues.
According to Venture Development Corporation’s recently released 2005-2006 RFID Year-End Overview, the worldwide market for RFID systems exceeded $2.3 billion in 2006, with hardware accounting for nearly 59% of the total market. VDC anticipates nearly 35% growth (CAGR) through 2008, with total global revenues projected to exceed $3 billion by the end of this year.
The industry is ripe for consolidation. Current market conditions - coupled with a highly fragmented and increasingly competitive market - may encourage several vendors to implement exit strategies. The recent downsizing, ‘rightsizing’ and M&A activities are a harbinger of things to come for the next 12-18 months.
Source: MoreRFID.com
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