$2.3 Billion RFID Market Falls Short of Lofty Expectations
NATICK, Mass. — Despite exceeding $2.3 billion in revenue, sales expectations fell short for the RFID industry, a high-profile IPO did not materialize and the market continued to be “commoditized before it is commercialized,” according to the Venture Development Corp.’s (VDC) 2005-2006 RFID Year-End Overview. Hardware accounted for almost 59 percent of the market in which VDC anticipates nearly 35-percent compound annual growth rate (CAGR) through 2008, with total global revenues projected to exceed $3 billion by the end of this year.
Significant growth is expected from the pharmaceutical, CPG and health-care markets. VDC predicts that the pharmaceutical industry will pave the way for high-volume, item-level tracking applications in regulated industries.
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