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RFID Readers, Tags, Software in Retail Projected to Hit $5 Billion

A new report from Frost & Sullivan finds that sales of RFID readers, tags and software to the retail sector will grow from $738 million in 2014 to $5.409 billion in 2020, reflecting a compound annual growth rate (CAGR) of 38.9 percent. When Ram Ravi, a Frost & Sullivan electronics and security industry analyst, met with RFIDvendors at the RFID Journal LIVE! 2014 event in Orlando, Fla., he noticed that their confidence level had changed in comparison with previous conversations he had had with them. Both hardware and software companies indicated that the "tipping point" had been reached at which RFID technology use became commonplace for retailers. Ravi also carried out subsequent research and conversations with RFID technology vendors and end users, and incorporated all of his findings in a report titled "Analysis of the Global RFID Market in Retail," released last month.

Read the whole story at RFID Journal »

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