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The RFID Market Outlook: New Applications, Best Practices and Future Profit Opportunities
Business Insights, July 2005, Pages: 126
Radio Frequency Identification (RFID) is set to become the bedrock of most supply chains over the next twenty years: however, at present it is perceived to be an immature solution with significant barriers to overcome before becoming a mainstream technology.
'The RFID Market Outlook: New Applications, Best Practices and Future Profit Opportunities' is a report that examines the future market opportunities for RFID, the advantages of implementing RFID and how different industry sectors can benefit from investing in this technology area.
This report also examines some of the early innovators in this space, such as Wal-Mart, Metro and Tesco and provides profiles of the leading RFID vendors and their go-to-market strategies. Identify the key revenue opportunities available for software providers, hardware vendors and IT services companies from entering the growing RFID market using the strategies and recommendations detailed in this report.
The answers to your questions...
- Which strategies and best practices will lead to success in the RFID market?
- How can RFID technology help organisations improve their supply chain processes?
- What are the challenges in implementing RFID and how can they be overcome?
- How can I tackle some of the issues associated with RFID, such as privacy and cost?
- Who are the early adopters of RFID and in which sectors?
- Who are the RFID leading vendors?
Identify and target the new applications for RFID and secure a share of future profits using this report's analysis of the best practices in RFID implementation by across key vertical markets...
Examining the key issues
- Market immaturity. Application of RFID to lower cost items is a new concept and issues exist regarding movement from pilot stage to real-world use, moving from pallet-level to item-level and its accuracy.
- Costs. Physical costs are becoming less important as the cost of tags falls. However, implementation costs will remain a challenge for smaller organizations and benefit professional services and systems integrators in the initial stage of roll-out.
- Privacy. It will be key issue for vendors to overcome this fear by the recycling, re-use, blocking or disablement of tags when they are no longer needed.
- Implementation hurdles. Many organisations are too focused on the physicalities of RFID whilst overlooking the issue of integrating the data that will pour in from the readers.
- Early adopters. To comply with mandates from Wal-Mart and the US Department of Defense suppliers have had no choice but to adopt RFID there are best-practice lessons to be learned from these and other interesting pilots.
The value proposition
Benefit from 126 pages of expert insight and proprietary data, enabling you to:
- Understand the specific applications of RFID within key vertical markets including manufacturing, airports, automotive, pharmaceuticals and healthcare.
- Avoid the pitfalls associated with RFID implementation using the strategies to combat consumer privacy fears, cost issues and software integration in this report.
- Learn best practices from the early adopters of RFID including leading retailers such as Wal-Mart, Tesco, Metro and other major organisations such as Pfizer, Purdue Pharma and Gillette.
- Create more successful sales strategies using the competitor profiles and strategic recommendations included in this report.
- Maximise the value of RFID data using this report's strategies for collection, analysis and business intelligence application of RFID data.
Key findings from this report
RFID will become critical to most supply chains within the next 10-20 years with the market conservatively projected to be worth $1 billion by 2006.
Despite spending $15 billion on supply chain software US companies had more than $1 trillion of inventory sat idle at the end of 2002.
RFID tags need to reach the five-cent-per-chip price point, which is considered to be the threshold where RFID will really take off.
Consumer privacy fears could be allayed by the recycling and re-use of RFID tags. However this could make RFID a less powerful means of data collection than frequent flyer schemes, loyalty cards, bank cards, and mobile phone bills.
Integration is the biggest concern for RFID buyers, and as a result customers tend to rely on trusted traditional technology partners rather than approaching niche specialists.
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