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RFID Overview

What Is Radio Frequency IDentification (RFID)

Radio Frequency Identification ("RFID") is the wireless non-contact use of radiofrequency waves to transfer data. Tagging items with RFID tags allows users to automatically and uniquely identify and track inventory and assets. RFID takes auto-ID technology to the next level by allowing tags to be read without a line of sight and, depending on the type of RFID, having a read range between a few centimeters to over 20+ meters.

RFID has come a long way from its first application of identifying airplanes as friends or foes in World War II. Not only does the technology continue to improve year over year, but the cost of implementing and using an RFID system continues to decrease, making RFID more cost-effective and efficient.

Industries that Benefit from Adopting RFID

RFID technology has wide usage among many key industries including but not limited to the following:

Apparel

Jeans | Intimates

200 billion items with potential for an additional 95% adoption rate

Other Retail

Electronics | Boxed Goods | Batteries | Cosmetics

2 billion units with a potential of 60% CAGR

High Value Item Level

Wine

$19 billion addressable U.S wine market

Manufacturing

Construction | Automotive | Other "JIT" Industries

60+ million cars x 30,000 parts per car = 1.8 trillion+ car parts

Transportation

Ticketing | Tracking

Up to 500 million RFID-enabled transit tickets

Healthcare

Pharma | Medical Records

$70 billion+ expenditure in the past 5 years

Industry Forecast

The RFID industry is expected to grow at a compounded annual growth rate of approximately 40% in the next 5 years.

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