Technologists are coming up with more unique and innovative applications for using RFID that are bound to add zest to this market.
New analysis from Frost & Sullivan (autoID.frost.com), Strategic Assessment of Emerging RFID Applications Markets in APAC, finds that market earned revenues of over $12.7 million in 2007 and estimates this to reach $2,588.5 million in 2013.
Enterprises are realizing that active tag technology can enable them to manage operations more efficiently as resources, both assets and personnel, can be more effectively deployed. Though the active tag market is in a nascent stage in the Asia Pacific, enterprises across verticals such as healthcare, manufacturing and logistics, and transportation are using them in greater numbers.
"In this increasingly fast-paced and competitive environment, end users adopting RFID are striving to differentiate themselves from the rest of their competitors by improving the overall service provided to their customers," says Frost & Sullivan Research Analyst Richard Sebastian. "Along with greater emphasis on operational efficiency and internal cost-cutting, RFID is seen by many as the platform to benefit customers, ultimately enabling these end users to capture a bigger market."
Among the emerging applications for RFID in the Asia Pacific are sports timing, document tracking, DVD tracking, oil and gas applications, jewelry tracking, and outdoor wireless sensor network. All these show promise of becoming 'every day' applications. Analysis of the various emerging RFID applications shows that they provide end users greater visibility, thus improving overall efficiency or workflow.
One challenge that market participants need to address is the lack of awareness among enterprises of the availability, benefits, and ROI of emerging RFID technologies. For instance, each emerging RFID application provides a specific benefit such as making a particular process or business run more effectively, thus saving time and reducing wastage. Besides, RFID can lead to a safer environment for either the employees or the product. These benefits lead to monetary gains as well, leading to strong ROI from RFID.
Market participants can educate a large number of potential end users on the payback that can be obtained from RFID at tradeshows and conferences.
"RFID, now seen as an important enabler to solve or improve various issues, is increasingly being used to create new applications tailored to meet the demands of a specific industry or problems plaguing all industries," says Sebastian. "With such great potential, enterprises from a wide range of industries across the Asia Pacific region look set to benefit from RFID deployments, thereby motivating the RFID industry growth as well."
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the emerging RFID applications market in the Asia Pacific, then send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
Strategic Assessment of Emerging RFID Applications Markets in APAC is part of the Automatic Identification & Security Growth Partnership Service program, which also includes research in the following markets: RFID. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership™ empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.
Strategic Assessment of Emerging RFID Applications Markets in APAC P09A