The world RFID technology markets stands enthused by the rapid replacement of bar codes with smart tags in the consumer goods packaging industry. Adoption of cutting-edge tracking techniques in supply chain management, manufacturing and logistics also offers numerous opportunities for growth, according to the latest report Radio Frequency (RF) Identification Equipment: An International Market Report by BizAcumen Inc.

Expansion into new end-use market such as, animals and farming, leisure, books, laundries, library book checkout, bus terminal management, airport baggage routing and container pooling, likewise is expected to result in expanded market opportunities.

With technology moving up the learning curve, cost of RFID systems is on a downward spiral. Emergence of international standards will help encourage mass adoption of RFID tags. Continuous innovations, and technology upgradations are expected to encourage the use of RFID in advanced, high-end applications, such as medical diagnosis and military. The need for patient tracking, call up records, waste management, asset, document, record tracking, medicine disposals, drug tracking, prevention of counterfeiting prescription drugs, is helping the deployment of RFID in pharmaceuticals and healthcare.

The robust market for high-end automotive technologies is expected to lead to increased use of RFID in applications like anti-theft immobilizer.