Technology transfer through strong R&D collaboration with government-owned institutes and private organizations has played a pivotal role in raising the standards of radio-frequency identification (RFID) in Northeast Asia. Most organizations set great store by the value that RFID brings to their business.
New analysis from Frost & Sullivan (autoid.frost.com), Northeast Asia RFID Markets, finds that the Japanese and South Korean RFID markets are set to experience growth rates ranging from 15 to 20 percent through 2017. The convergence of RFID with other technologies is expected to be one of the key trends driving the growth of the market in the future.
Companies are aiming for higher operational efficiency in their processing, especially while controlling asset integrity and improving inventory visibility in the supply chain. Once they identify a way in which RFID can help them save costs, the management will have demonstrable return on investment (ROI) from the technology’s implementation.
Currently, insufficient short-term ROI has made potential users apprehensive about adopting this technology in their business process. As with every new technology, end users are also skeptical about the reliability of new implementations, especially since barcode is a tried and tested technology. RFID solution providers have to present a compelling picture of the technology’s effectiveness and business value as an enabling technology to customers.
RFID manufacturers could also market their products’ benefits and advantages over conventional technologies to attract customers.
"For instance, RFID has outstanding read range, accuracy, and ability to withstand harsh environmental conditions," says Frost & Sullivan Research Analyst Susan Sahayan. "Further, unlike barcodes, RFID does not require line of sight, has long read range, is rewritable, automated, and offers multiple reads simultaneously."
With the rising popularity of ubiquitous technologies all over the world, including Northeast Asia, it is expected that customers will soon require little convincing to implement RFID. Ubiquitous technology is a trend that relies on the convergence of advanced electronic technologies utilizing the linkage of computing devices in an environment as well as wireless technologies and the Internet.
"RFID, along with technologies such as wireless and sensor networks, is considered one of the important tools that support the ubiquitous technology environment," notes Sahayan. "The availability of this technology concept enables accurate and automatic capture of information in ‘smart’ environments such as smart homes and smart buildings."
If you are interested in more information on this study, please 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.
Northeast Asia RFID Markets is part of the Automatic Identification & Security Growth Partnership Services program, which also includes research in the following markets: Asia Pacific RFID Markets, Global Electronic Access Control Systems Market, and Global 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.
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