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Standardization and Technology Optimization Trigger Growth in the Asia Pacific RFID Inlays Market - The market for radio frequency identification (RFID) tags is set to see considerable growth, gaining traction with increasing deployment in various verticals
Standardization and Technology Optimization Trigger Growth in the Asia Pacific RFID Inlays Market

 

NewswireToday - /newswire/ - Singapore, Singapore, 2008/07/23 - The market for radio frequency identification (RFID) tags is set to see considerable growth, gaining traction with increasing deployment in various verticals.

   
 
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The RFID inlays segment is a vital part of the larger RFID spectrum and determines the effectiveness and performance of the finished RFID passive tag. In 2007, the market growth rate in the Asia Pacific RFID inlays market was nearly 18.0 percent. By 2009, rising demand is expected to step up the growth rate to 20.0 percent, annually translating to a compound annual growth rate (CAGR) of over 27.9 percent between 2007 and 2014.

New analysis from Frost & Sullivan (autoid.frost.com) APAC RFID Inlays Markets, finds that the market earned revenues of over $150 million in 2007 and estimates this to reach $852 million in 2014.

"Compared to the early 2000s when there was a lack of standards to govern RFID, the industry has since then seen tremendous progress in the ratification of standards to aid in making this technology more effective," says Frost & Sullivan Research Analyst Richard Sebastian. "Significant milestones have been achieved in the past few years to ensure the various segments of the RFID industry including the passive tags segment are more standards centric, directly benefiting the inlays market as well."

The ratification of EPC Gen 2 standards has delivered a positive impact on the market and led to more end-user buy-in, with the elimination of interoperability issues. Most importantly, it has paved the way for greater security, allaying end users' fears over safety. As the pace of innovations in the RFID inlays segment steps up and the technology matures, demand is expected to strengthen considerably.

Alternate tracing and tracking methods cannot achieve the levels of visibility offered by RFID technology. Though these benefits were apparent to a large cross section of end users, the cost factor remains a major concern, preventing large-scale adoption.

While technology providers are committed to achieve cost reduction, quality can be adversely impacted and hence, the performance of inlays. Although price is mainly dependent on the quantity ordered, other factors such as the type of Integrated circuit (IC) used, antenna size and antenna composite materials, manufacturing method, amount of testing, and whether it is a wet or dry inlay also affects the overall price.

While the cost of inlays is dropping at a rate of 3 to 10 percent annually, depending very much on the type of inlay used, ensuring competitive pricing will reduce the total cost of ownership for end users thus guaranteeing greater buy-in of RFID technology.

"However, end users will also need to look at RFID deployment from a more strategic and holistic perspective and not solely from the cost angle," observes Sebastian. "RFID offers enterprises the opportunity to save millions of dollars in operational cost apart from optimizing the safety and security of tagged resources."

Taking into account the benefits offered, the cost of inlays can be considered negligible. A thorough cost-benefit study should be conducted when deliberating adoption to understand the return on investment (ROI) that can eventually be achieved.

Ultimately, the demand for enhanced visibility and manageability of resources in small, medium, and large enterprises will play a decisive role in shaping the trends sweeping the RFID inlays market. The RFID market is relatively nascent, and though some impediments such as cost still exist, the technology has the potential to become more pervasive in the environment with increased deployments. The RFID inlays market will benefit from this trend, and sustained growth is ensured in the long term.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the APAC RFID inlays markets, then send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

APAC RFID Inlays Markets is part of the Automatic Identification and Security Growth Partnership Service program, which also includes research in the following markets: Asia Pacific RFID readers market, Asia Pacific tags market, Asia Pacific transportation market, and Best Practices in the RFID market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership™ empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

APAC RFID Inlays Markets
P17C

 
 
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Standardization and Technology Optimization Trigger Growth in the Asia Pacific RFID Inlays Market

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