Technology
What's your frequency?
Smart Business Cleveland | May 2005
High-tech market research firm In-Stat predicts that RFID tags are poised to become the most far-reaching wireless technology since the cell phone.
Worldwide revenue from RFID tags will jump from $300 million last year to $2.8 billion in 2009. During this period, the technology will appear in many industries and have a significant impact on the efficiency of business processes.
The biggest segment is expected to be the supply chain. Wal-Mart, which has mandated that top suppliers use the technology, will drive this market segment.
Other finding include:
* Widespread adoption will take a couple of years to ramp up, as tags are still relatively expensive, ranging from 15 cents to more than $100.
* Privacy issues remain a concern for many applications of RFID, and courts and governments around the world are in the process of determining the related legal issues.
* The second-largest market for RFID, at least in the latter years of the forecast, is consumer products, even though this market is one of the most privacy-sensitive areas.
