The value of sales of active radio frequency identification (RFID) systems is expected to soar in the next 10 years from $550m (£300m) to $6.78bn (£3.7bn).
The report from analyst IDTechEx says Real Time Locating Systems (RTLS) and disposable RFID sensor systems such as smart active labels will lead the growth.
It suggests that four factors will lead to rise in value by 2016, with stronger demand for tracking, locating and monitoring staff and products the most significant factor.
‘This is driven by security, safety, cost and customer satisfaction,’ the report said.
‘Important factors are increased competition in consumer goods, terrorism, threatened disease epidemics and consumers demanding better service and more information.’
The reduction in cost and size of tags and systems is another driver.
‘In future, miniature fuel cells, printed photovoltaics, including the new power storage photocapacitors, and other power sources will help businesses overcome constraints of lifetime, cost and size,’ the report added.
Other factors include open standards becoming available and companies leveraging many newly popular forms of short range wireless communication, particularly WiFi and ZigBee.
What do you think? Email us at feedback@computing.co.uk
Further reading
Tesco takes stock after RFID trials hit problems
reader comments