NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2006/10/31 - In the backdrop of rising security problems in airline baggage handling, RFID appears to have significant potential for streamlining and improving highly volatile security situation.
According to Industry experts, the overall revenue generated from RFID systems employed for airline baggage handling in the US, will stand at $11.8 million for the current year. This figure is expected to grow to around $27.5 million in 2011, with an impressive CAGR of 18.5 %.
However, it’s probable that RFID technology and software may have to pass through rough patches before the sector can establish itself in the global market. In the US, domestic airlines are finding it hard to survive competition against international players. Being Cash-strapped, US airlines have been reluctant to adopt RFID airline baggage tagging chiefly due to high tag price. Since RFID baggage tags are disposable, airline industry players feel they ought to be cheap. Unlike airport operators in other countries, in the US the majority of baggage handling systems has been solely handled by the airlines themselves.
RNCOS’ recently published report “RFID Industry Analysis 2006”, talks about the prospects of RFID technology. The report finds out that RFID will have application for baggage tracking in the airline industry. The aggregate statistics for the year 2005 reveal that the US airlines lost, misdirected or misplaced around 10,000 bags per day. Therefore the US airline industry in particular is standing at the threshold of a ‘take-off’ for applying RFID technology to the problem of airline baggage. Industry experts predict that once demand for these technologies begins to rise, tag prices will begin to move downwards giving further impetus to this sector.
The research report also addresses the issues and facts that are critical to business success:
- The status of global RFID Market.
- The future projection of RFID hardware components, RFID software and RFID services market.
- The applications and changes associated with RFID technology.
- The prospective applications of RFID technologies in areas such as in Supply chain Management, Asset Tracking and Point of sale applications.
- The potential applications of RFID technologies in various vertical segments such as Consumer Packaged goods, Retail Units, Healthcare/Pharmaceutical sector and Commercial Sector.
- The challenges before RFID industry.
This report provides a comprehensive discussion on the current trends, demand, revenue forecast, business opportunities, and other issues likely to influence the future growth of RFID market.
RNCOS, incorporated in 2002, provides Market Research Reports for your business needs and aims to put an end to your information pursuit. Our expertise in gathering global business information for industry research, corporate training, growth consulting, and business consulting, brings reputed companies and firms to us for business enhancement solutions. We can be your one-stop-shop for Industry research information and niche market analysis.