Radio frequency identification (RFID) can achieve a functionality that would make it possible to be used for simple inventory management and logistics management by 2010, according to a new report by NanoMarkets. The market research firm projects that the market for printed RFID devices will reach $3.6 billion by 2015.
The capabilities of RFID, an identification method that relies on storing and remotely retrieving data using devices called RFID tags, are likely to increase steadily in the next two years. Utilizing printing technology to manufacture RFIDs could make the devices more competitive with traditional bar code technology currently used for inventory management and pricing at retailers. Additional markets include food security, pharmaceutical packaging and courier service tracking.
