Retail RFID revenues reached $400 mln in 2004

Revenue in the RFID market for retail totaled $400 mln in 2004, and estimates put the technology at about $4.2 bln by 2011, according to Frost & Sullivan. The North American retail RFID market is close to 40% of the global RFID market. More than 70% of retailers in Europe, Middle East and Africa with revenues of $5 bln or more are involved in or are exploring RFID investments.

Only 16% of the companies implemented RFID projects

The Computing Technology Industry Association says 80% of IT manufacturers and service companies see a shortage of RFID talent to implement, service, and support radio-frequency identification technology. RFID adoption remains “relatively modest,” with about 71% saying their customers haven’t implemented RFID. 80% say they haven’t gone past investigating the technology, and just 16% have implemented one or more pilot projects for themselves or their customers. 37% of respondents say their companies will definitely offer RFID products and services within the next three years, and 39% say they’d consider doing so if there’s interest from their customers. 82% expect to offer RFID hardware installation and maintenance services, 62% to offer software implementations, and 51% other services.

RFID tagging in Europe to reach 10 bln euros by 2010

Radio tagging offers the possibility of creating a data profile for goods in order to improve flows of information along the value chain. The application possibilities for radio tagging are far more than simply a replacement for bar codes in wholesale and retail. With the resolution of pressing requirements in the areas of technology, regulation and marketing, the overall market for radio tagging in Europe could grow 10-fold over the next six years to reach 4 bln euros, according to research from Deutsche Bank.

RFID to solve $30 bln drug counterfeiting problem

Drug counterfeiting may cost the worldwide pharmaceutical industry more than $30 billion annually. RFID is seen as one way to lower that cost. Issues of drug counterfeiting and patient safety differentiate it from RFID in retail markets. With the industry losing $2 billion due to overstock and expiry and $30 billion due to counterfeiting, there is an opportunity for RFID, according to ABI Research.