RFID or Radio Frequency Identification for a layman is all about collecting data at the physical level using RFID readers and tags and then using that data for business applications.
RFID number plates are expected to bring in a revolutionary transformation in the traffic monitoring system. Those gazing surveillance cameras on the roads are soon going to be outdated with the introduction of these hi-tech number plates.
Only 5-6 sectors are utilizing this technology at present. The areas where this technology has already made its place include Security & Access Control where RFID is used for authentication of products, documents & asset management, validation & verification of vehicles and people & attendance check etc.
Besides installing RFID number plates to watch the movement of vehicles on the road, the transportation sector also employs the RFID technology to collect taxes with contact-less cards and keep an eye on public and cargo vehicles.
RFID plays a major role in health care services equipments such as mobile diagnostic equipments or RFID patient wristband. Quality checks in retail & consignment tracking, point of sale terminals, luggage handing and other areas of commercial services also use RFID technology.
Besides assisting the suppliers in meeting the requirements of the retailers, the inclusion of RFID system in supply chain management has also broadened the marketing scope for service providers.
As per a latest research report published by RNCOS named “RFID: Outlook China” predicts that the application of RFID in the shipment system of China's Ministry of Railway will save more than $ 36Mn, i.e. 300Mn Yuan, during the current financial year.
The report also offers statistical information of the RFID market in China. As per the report, the RFID market in China that was worth $150 Mn in 2004, which is expected to cross $621 Mn by the year 2009 at a CAGR (Cumulative Annual Growth Rate) of 32%.
As per the analysts, China is becoming the latest center of this technology with RFID-based systems being included in Shanghai and Guangzhou’s subways and several buses are also equipped with card reader in Beijing.
As per the report “RFID: Outlook China”, RFID has entered in every sphere of the Chinese Market. The 2G identity cards cover approximately 50%, whereas each of the sectors such as e-ticketing, expressway toll taxation, university campuses & community services on an average adds to 6% of the RFID market with public transport and subways making a contribution of 10%.
The report offers a complete overview of the current trends and activities in the RFID Market in China. The international exhibition of RFID technology called RFID CONNECT CHINA 2006 event is also discussed in this report.
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RFID buzz creates market for more secure services
