Yenra : RFID : RFID Hardware Software Services Market Growth : Market for RFID hardware, software and services will increase from more than 1 billion in 2003 to 3 billion dollars in 2007

Today, the Wireless Data Research Group (WDRG) announced it has found the market for RFID hardware, software and services will increase at a 23 percent CAGR from more than $1 billion in 2003 to $3 billion in 2007. According to the newly available research, the adoption of RFID for inventory and supply chain management applications, coupled with the finalization of a global air interface standard and architectural framework, will add significantly to the already growing base of RFID applications. Among the notable findings of the more than 150-page study:

Despite the optimistic outlook, there are some outstanding and vital issues that need to be addressed as the market continues to mature, such as:

"As the RFID industry moves from a silent revolution to a very public evolution, recognition of the importance of automated identification and data capture will reshape the way enterprises manage their supply chain as well as their vendor relationships," reports WDRG's Principal Analyst Ian McPherson. "Trials with open platforms like the EPC network have proven that the technology works. Now the vendors must prove that the information infrastructure scales to support this new interconnected enterprise without breaking the users' budget."

In addition to regional market forecasts for RFID categories, the research includes a thorough analysis of the applications and technologies that promise to drive the market, as well as profiles and commentary on 20 leading vendors and enterprises.