Increasing Awareness of its Benefits to Boost Uptake of RFID Technology in Retail, Says Frost & Sullivan

Increasing Awareness of its Benefits to Boost Uptake of RFID Technology in Retail, Says Frost & Sullivan PR Newswire LONDON, Nov. 29, 2012 - Mandates from large retailers and early adopters will drive demand for RFID LONDON, Nov. 29, 2012 /PRNewswire/ -- The European radio frequency identification (RFID) market in the retail industry offers considerable growth potential. The promise of enhanced benefits for businesses and the growing importance of item-level tagging will add impetus to market development. However, issues pertaining to data privacy and the lack of understanding about return on investments (ROI) threaten to slow down the pace of market expansion. New analysis from Frost & Sullivan (http://www.autoid.frost.com), Analysis of the European RFID Retail Market, finds that the market earned revenues of $289.6 million in 2011 and estimates this to reach $3,206.0 million in 2017. The research covers tags, hardware and middleware/software. Key growth businesses include apparel and footwear, perishables, jewellery, and personal care. In addition, specialty retail is also gaining prominence. The enhanced benefits in various business processes across the retail supply chain will continue to drive RFID adoption. Advantages include better inventory management, improved operational efficiency, reduced labour, greater visibility, information accuracy, higher sales, and superior customer service.