The global RFID industry is expected to see high growth in the East Asian countries due to increasing uptake of the technology for various purposes and vast untapped markets.
(I-Newswire) - RNCOS says in its new research report, “Global RFID Market Analysis till 2010”, the Radio Frequency Identification ( RFID ) industry is expected to see large part of the growth in the East Asian countries such as Japan and China in near future.
According to the report, the RFID industry has grown at a rapid pace in the last few years. Government policies, legislations and spending to roll out the technology in some major markets such as China, Japan, South Korea, the US and the UK have a great influence on the growth of the industry. However, the industry is expected to see high growth in the East Asian market where it is projected to grow at a CAGR of nearly 35% in the next five years. Initially, the technology is likely to witness stronger uptake in high labor cost countries such as Singapore, Japan and Korea.
South Korea and Japan are the most developed and stable countries in East Asia and are providing huge growth opportunities for the technology, says the RNCOS report. Besides, China, another important Asian country with low manufacturing cost advantage, is luring bulk supply chain activities.
The report credited the growth of RFID industry in China primarily to the launch of RFID tag production line by several domestic manufacturers. Now the technology is increasingly being tested as RFID tags in various fields such as public security, production management and control, anti-counterfeiting and security management, supply chain management and modern logistics, modern service industry and digital tourism.
“Global RFID Market Analysis till 2010” provides comprehensive information on the global RFID industry to help clients identify the growth opportunities for the industry both in short and long term. It gives detailed and prudent analysis on the key drivers, challenges and other related issues of the industry, and studies the RFID industry in the countries like the US, the UK, Germany, Italy, Canada, the Netherlands, Japan, Thailand, China, Singapore, Taiwan, Malaysia, Korea and India. Based on the past and current market trends, the report also gives forecast on RFID tag sales by region, active RFID applications by verticals and RFID tag reader market.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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