More than 33 billion Radio Frequency Identification (RFID) tags will be produced globally by 2010, according to a report by market research firm, In-Stat.
That’s more than 25 times the 1.3 billion tags produced last year.
In-Stat says production will vary by industry segment, for example, RFID has already been widely used in the automotive industry, mainly in keys, for more than a decade. This greatly exceeds RFID usage in other sectors.
The report also made the following conclusions:
- Cost will be the deciding factor in determining the extent of RFID usage, and costs are rapidly declining.
- Pharmaceutical companies are currently investigating RFID’s potential to reduce counterfeiting.
- Governments across the world are currently addressing the privacy issues associated with RFIDs, and rules and regulations for using the technology are likely on the horizon.