RNCOS Research: Global RFID Market Set For Steady Growth
RNCOS Research: (http://www.marketsmonitor.com/category/COM32.html) The RFID industry has great potential in manufacturing, and supply chain solutions. By 2010, the global market size is predicted to be $6.14 billion.

/Radio News Articles/ - NEW DELHI, INDIA, April 05, 2006 - RNCOS Research: (http://www.marketsmonitor.com/category/COM32.html) With its huge potential RFIID technology is fast picking up in various sectors. Its multiple applications in manufacturing are yielding recognizable business benefits.

But the technology needs to address some challenges. The challenge is not only in evolving RFID based solutions but also up gradation of existing enterprise solutions to make use of the data coming in additionally. Moreover costing should be rationalized.

The growth in the market over the last few years has come from traditional, established closed-loop applications like security/ access control, automobile immobilization, animal tracking, and toll collection. The emerging application segments like supply chain management are in their last stage of testing which having completed will drive growth of new market opportunities.

In their recent market research report named "RFID Industry Analysis 2006", RNCOS estimates that "the global market for RFID software, hardware and services has increased three times the market value in 2004 making it $6.14 billion by 2010."

The report gives an in-depth review of the use of RFID technology in manufacturing sector, their alliances, development of new products and current growth prospects. It says that "in 2006 itself more manufacturing companies will expand their initial attempts of RFID technology with a massive growth reaching US $3 billion, largely in United States and Europe."

However, the real challenge lies in the availability of low cost specialized sensors and frequency tags to reach a competitive position. According to the report while currently the RFID market is largely contributed by the activities of retail chains like Wal-mart, Tesco and Target, in the next three years the greater RFID expenditure will be incurred by pharmaceutical, consumer packaged goods, and automotive industries.

The report "RFID Industry Analysis 2006" by RNCOS elicits growth opportunities that manufacturers and suppliers can cash on. In terms of their revenue generation capacity, the market has been primarily divided into retail and consumer packaged goods, healthcare and pharmaceuticals, logistics and transportation, and high-tech manufacturing.

The growing importance of automated identification and data capture will reframe the way business houses manage their supply chain as well as their vendor relationships. With this the RFID industry is gradually moving from a silent revolution towards a public evolution.

To purchase your copy: http://www.marketsmonitor.com/category/COM32.html
For more information about the report please visit www.marketsmonitor.com

Press Release Contact Information:

Shushmul Maheshwari
RNCOS
CEO
29, 1st Floor, Patparganj Industrial area
Delhi, New Delhi
India 110092
Voice: 91-11-4214-1229
Fax: 91-11-4214-1229
Website: Visit Our Website