RFID tags generated $300 mln in 2004

RFID tags are poised to become the most far-reaching wireless technology since the cell phone, according to In-Stat. Worldwide revenues from RFID tags will jump from $300 mln in 2004 to $2.8 bln in 2009. During this period, the technology will appear in many industries with significant impact on the efficiency of business processes. The widespread adoption of the technology will take a couple of years to really ramp up, as tags are still relatively expensive, ranging from a low of around $0.15 to a high of over $100. Privacy issues remain a concern for many applications of RFID, and currently courts and governments around the world are in the process of determining 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.