Delhi, India (PressExposure) July 18, 2009 -- According to our new research report, âGlobal RFID Market Analysis till 2010â, the global RFID market is set to grow at a CAGR of around 28% till 2013. After thorough analysis, we have found that the current economic crisis will not stall the global RFID market, but the market growth is expected to slowdown to around one third in 2009 as compared to the growth reported in previous years. Many RFID suppliers have already begun to revise their expansion or investment plans as the world is feeling the heat of weak demand and low export in various industrial segments including manufacturing and retail. Despite this, the market is anticipated to post positive growth in 2009.
We have also found that at the regional level, the Americas continue to lead the way for global RFID revenues followed by Europe, Asia-pacific and the MEA region. Several efforts including mandates by Wal-Mart and the US Department of Defense (DoD) have been continuously fueling growth in the Americas RFID market. Moreover, aggressive promotions by the Asia-Pacific governments have facilitated RFID adoption for ticketing, payment and ID applications.
The research also reveals that Asia-Pacific will witness the highest growth in RFID revenues owing to the rapid adoption of RFID applications in various countries including China, India, South Korea, Taiwan and Thailand. Besides, segments such as security-based solutions, contactless payments, pharmaceuticals and healthcare are forecasted to drive growth in the global RFID market in near future.
Our report âGlobal RFID Market Analysis till 2010â provides an extensive research and prudent analysis of the RFID market worldwide. Various established and emerging RFID applications in different verticals have been covered in the report, which helps to understand the current and future market outlook of RFID in these verticals. It discusses the global RFID market rationally and helps clients to analyze opportunities and factors critical for the uptake of RFID technology both in short and long-term. The report also provides the RFID market trends and developments in various key countries across the world.
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