Complicated Year for RFID
On the one hand, 2006 saw sales expectations fall short for RFID technology, but on the other, according to Venture Development Corporation’s (VDC) “2005-2006 RFID Year-End Overview” investment in the industry remained robust. The worldwide RFID market topped $2.3 billion, with an anticapted growth of 35% through 2008. VDC forecasts $3 billion in global revenue by the end of 2007.
In addition, VDC anticipates consolidation in the industry’s future, with downsizing and competition making buyouts and partnerships an attractive option.
Globally, North America continues to lead the RFID charge with the most activity, with the lead adopter continuing to be the Asia-Pacific region, integrating RFID into ticketing, access control and other public infrastructure applications. China in particular is expected to be a massive growth sector for the technology.
David Thomas, CEO at Evident, is an accomplished cybersecurity entrepreneur. He has a history of introducing innovative technologies, establishing them in the market, and driving growth – with each early-stage company emerging as the market leader.