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2007 RFID market to hit $4.96B 31 July, 2007 RFID, LTD. has released updated industry metrics for the Radio Frequency Identification (RFID) market. In 2007, the total RFID market size is $4.96 billion. By 2017, the total RFID market size is estimated to grow to $26.88 billion. The United States still has the largest number of RFID projects followed by the United Kingdom where the RFID market size is 1/3 the size of the U.S. market. In 2017, the most important sectors by "value of tags" will roughly represent $2 billion each and will be: Smart Cards; Consumer goods (item level); and Pallet/Case. The second most important sectors will represent approximately $1 billion each and will be: Military Use; Animal Tracking; and Historically, approximately 1/3 of retail turnover is tied up in inventory and becomes wasted capital. In the cosmetics, household & personal care industry, at any given time, 1 in 12 items is out of stock. This results to 2.6% of annual sales. The World Customs Organization estimates that counterfeiting accounts for 5%-7% of global merchandise trade. $39 billion of 11% of global pharmaceutical commerce was counterfeit in 2005. Wi-Fi RFID tag shipments will grow at over 100% annually through 2010. And IDC predicts that by 2010, the total market revenue for RFID applications in China will reach RMB 29.837 billion with a forecast compound annual growth rate (CAGR) for 2005-2010 of 82.4%.
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