RFID is an upcoming market, with an estimation of reaching a value of approximately $3 billion worldwide by 2007.
(I-Newswire) - In the US, Wal-Mart and DOD are the two dynamic forces for RFID. They both work with their suppliers for a better and smoother operation. For, example, DOD aims for a more agile fighting force. So, if they have an army tank in the middle of the desert, they will try and get as much information as possible to ensure that everything works smoothly, like finding out it’s exact location, the nearest source of replenishment parts in case of damage. And their attitude to the fighting soldiers is similar.
‘RFID In Manufacturing Sector ( 2005 )’, a recent market research report by RNCOS, a renowned market research firm, has revealed that manufacturing executives are now more focused on deploying RFID technology based on its potential benefits, rather than retailer mandates. This change in focus — on ways to realize a strong return on investment from RFID initiatives, is predicted to result in phenomenal market growth. The market is now estimated to approximately reach $3 billion worldwide, by 2007.
However, though they have a grand design for RFID, they’re cautious when it comes to the manufacturing space. This is because, at present, the cost outweighs the benefits. However, RFID is an upcoming market.
Much of the activity surrounding the up- coming RFID market-manufacturing sector is being generated by the mandates issued by retail chains like Wal-Mart and Target. If in the United States, the market boom can be attributed to Wal-Mart and Target, in Europe, the credit goes to the supermarket giant, Tesco. These retail chains have instructed their suppliers to implement RFID systems in retail packaging of consumer products. And once the manufacturers realized the advantages of adopting this system and the return on investment ( ROI ) generated, there was an increase in the rate of RFID adoption.
The report “RFID in Manufacturing Sector ( 2005 )” by RNCOS, is dedicated to industry research as well as providing global business information and independent equity analysis, and targets both business professionals and investors searching for new opportunities and ways to improve their present sales. It focuses on how application of RFID can improve sales.
The main focus of the report is an analysis of RFID technology in manufacturing sectors, their alliances, new product developments, as well as the current growth prospects. It also examines the various building blocks in the application of RFID-enabled technologies in Manufacturing sectors and the recent issues and trends in the field. You can either purchase a copy of this report directly from the RNCOS website www.marketsmonitor.com or by contacting them via e-mail at info@marketsmonitor.com.
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