Is RFID Reaching the Tipping Point?
Has RFID hit a tipping point in terms of market adoption? It would appear so, given the strong growth in the amount of companies from all sectors making use of this technology. In 2011, the RFID market value grew to$5.84 billion. However, growth in the RFID market is not equal across the board; several distinct sectors are leading the charge.
Among the fastest-growing sectors is retail apparel, where RFID tags are used to at Point of Sale to enhance security and provide insight into consumer buying habits. Such information is a veritable goldmine for marketers; the combination of decreased losses and increased sales makes a strong case for a strong return on investment for RFID in apparel.
In the jewelry sector, the word on the street is that Wal-Mart has advised its suppliers to become RFID capable by 2014. And when Walmart talks, vendors and other competitive retailers listen. Should the integration of jewelry RFID into Wal-mart and Sams distribution and store operations take place, most experts believe RFID tags would emerge and as a new industry wide standard; requiring those who wish to stay competitive in the jewelry manufacturing, wholesaling and retailer categories to become RFID capable.