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Until recently, the UHF RFID market suffered from a variety of issues such as tag costs, educating a new market, developing and maturing standards, and so on. Then there was waiting for customers to recover from the 2008 recession and fending off IP challenges.
Now, with most of those issues behind us, the technology is experiencing relatively steady adoption at high volumes and healthy growth rates for the first time, founded on stable technology, reduced pricing, and a maturing ecosystem.
This report focuses on the UHF RFID Market. Approximately 6.5 billion UHF RFID chips will be sold in 2015. About 6.2 billion tags will be sold in 2015, up from 4.9 billion in 2014, representing a 27% unit growth rate. Almost two-thirds of these will be used in retail apparel, the fastest-growing vertical market for RFID. There are now dozens of examples of retailers generating revenue and gross margin improvements by using RFID to improve inventory visibility. With only a small percentage of suitable apparel items being tagged, we expect growth to accelerate as these use cases move into the steep part of the growth curve with new retailers joining the ranks of users, as well as current customers tagging more apparel. And with the infrastructures paid for through the ROI gained from this initial use case, RFID will be expanding to other use cases and categories. Retail RFID tag consumption should grow at about 34% over the next three years, lifting the overall tag compound annual growth rate (CAGR) to about 29%.
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