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Global RFID Market Forecast Report: Fastest Growth in Healthcare Applications
May 25, 2018

Global RFID Market Forecast Report: Fastest Growth in Healthcare Applications


At the beginning of the 21st century, RFID appeared in the supply chain and other sub-sectors and had excellent performance. It has led many institutions to invest in R&D RFID technology that “maximizes the benefits”. Some have succeeded, but many have failed. Accumulation around RFID technology has begun to slow down, and proponents of RFID technology have taken a wait-and-see approach to the problems that RFID can solve.


At present, retail, medical and manufacturing industries are expanding more rapidly, which helps to promote the future development of RFID technology. Although experts have reached a consensus on the actual application of RFID, the industry using RFID technology is saturated, but RFID is still in a slow and steady growth.


Research and Markets recently released the global RFID market forecast report for 2015-2020, reporting that the 2015 global RFID market is estimated at 10.04 billion US dollars. The report analyzes and forecasts global and regional markets for RFID products and end-use applications, including North America, Europe, Asia Pacific, South America and other parts of the world.


The report pointed out that in 2015, automotive/traffic constitutes the largest end use area, with an estimated $3.05 billion. In 2014-2020, the healthcare industry is the fastest growing application area, with a compound annual growth rate of 21% expected to reach 620 million U.S. dollars by 2020.





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