Slowdown and RFID Industry

Filed in archive Report on January 14, 2009

Photo courtesy of iStockphoto, Image# 7767516

Believe me since the time I have gained senses I have never witnessed a bad economic situation of such magnitude affecting lives of people to such an extent. With most of the sectors getting hit hard by the slowdown how can the RFID industry remain unaffected by the ripples created by it?

This year the RFID industry is not expected to breach the double digit figures in terms of growth. Analysts are keeping their fingers crossed and predict the growth would be somewhere under 10% keeping the economic downturn in mind.

The good thing which emerges out of all this is that there would still be positive growth in the sector and it would not experience negative results which have popped up with respect to other sectors.

So let's sum up as to what recession holds for the RFID Industry as a whole:

Even in such testing times RFID sectors stays strong and though growth would be slow good thing is that at the end of the day it would be in positive figures

The sector has emerged stronger from previous recessions and that's one of the reasons why the industry has not been hit so badly on the whole

Even though its adoption would be affected in manufacturing, pharmaceutical and other sectors for a while but do expect it to achieve better growth in IT asset tracking systems and access control.

Finally we would have to wait till 2011 or may be 2012 for robust growth to once again take place in this sector.