The RFID Opportunity
Although radio frequency identification (RFID) technology has a long history of use in automatic data collection and identification applications, it has truly reached widespread levels of adoption over the past several years. In fact, according to a report by BCC Research, the North American market for RFID technologies is forecasted to grow to $13.5 billion by 2023.
Globally, RFID adoption as of 2018 was 69%. Adoption continues to grow as more applications of the technology are developed and the cost of the technology falls.
RFID deployments are still complex, which represents an opportunity for value added resellers (VARs). Different materials can negatively affect RFID performance; liquids and metals can cause interference, for example. Different reader and tag frequencies may collide with other wireless technology. Tags that aren’t engineered for the application environment may be damaged or lost.
VARs can help their customers find the ideal RFID solution for their applications, but doing so requires developing the knowledge and in-house expertise needed to create those solutions at a cost that can ensure a reasonable return on investment (ROI).