Delhi, India (PressExposure) February 05, 2007 -- RFID is basically an identification technology that needs the data stored on its tags, which can then be distantly monitored by means of radio waves. RFID transponders can replace barcodes as they can be employed on both animate and inanimate objects and can eradicate differences in inventory records.
There is a vast scope of RFID use in China as its retail industry is booming that could use RFID tags to scale down the inefficiencies prevailing in supply chain management.
The Big Daddy of retail, Wal-Mart, has already made public that its suppliers have to place RFID tags on consignments and the Company has considerable operations in China. The most recent Five Year Plan of China puts forth several benefits to RFID tags, including providing cost savings and provision of accurate and relevant data.
As per a Research Analyst's view at RNCOS, who has recently researched a report on "RFID - Outlook China", China is aware of the role RFID tags can play in improving the competence of manufacturing and supply chain management and data collection. Considering the vast variety of potential applications and the power it has to cut the supply chain costs significantly, the RFID market is anticipated to record an exponential growth in China in the coming years.
The market research report also addresses the facts and issues that are critical to your success in RFID market in China, like:
-- Insight into market trends -- RFID product market in the world -- Growth sectors and identify factors driving change -- Potential of RFID in various vertical segments such as Retail and Manufacturing sector -- RFID Market segmentation in China -- Competitive environment and market leaders -- Opportunities, key challenges and strategies -- Key Players in the market -- Future prospects of growth
The report further discusses the current and anticipated future market for RFID technology in China. It explains the government policies and the approach government takes towards RFID development in the country.