Manufacturing Insights: RFID Implementations Growing at Cautious Rate
February 28, 2007 // Published as a news service by IHS
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RFID Worldwide Perspective, the second annual Manufacturing Insights global radio frequency identification (RFID) report, indicates most companies are cautiously spending on RFID, but the prospects are encouraging.
"The survey results should help manufacturers identify how to justify new RFID projects in terms of business objectives, technologies and more," said Kimberly Knickle, director of research for Manufacturing Insights.
"Despite a general uptake in RFID spending over the next few years, the aggregate results shine a light on the difficulties in justifying broad deployment of RFID for buyers and the associated disappointing market growth for technology sellers."
According to the survey, RFID continues to grow overall; however, the growth rates vary by industry and geography:
- In Asia, companies proceed with RFID plans to track assets and improve supply chain visibility. Asia/Pacific companies ranked mandates almost last.
- U.S. companies rank mandates and/or federal regulatory requirements as the primary objective of an RFID implementation, followed by track and trace improvements.
- Western European companies are looking for supply chain efficiencies to deal with the tight logistics and smaller retail stores within the EU, which require more precise systems and processes.
Source: Manufacturing Insights.