by CIO Staff

Report: Explosive RFID Growth by 2010

Jan 20, 20061 min
Internet of ThingsRFID

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.

–Al Sacco