The RFID market in China is "relatively mature" according to Research and Markets, a Dublin-based research firm. In 2004 the market exceeded 1.2 billion yuan; 933 million for tags, 185 million for readers and 85 million for the software and service market.
In 2004, the applications were mainly in closed and proprietary application fields -- with RFID software and services accounting for only 7.1% of the total market.
The report predicts that by 2009 the market will grow to 5.059 billion yuan, with a compounded annual growth rate of 33.2%. The expenditures will be distributed as follows: 3.807 billion yuan for RFID tag products, 684 million for readers, and 567 million for software and services.
With regard to geography, Beijing, Shanghai and the Pearl River Delta have become the three central areas for development of RFID applications due to the location of high-tech industries in these areas.
For information on the study visit http://www.researchandmarkets.com/reports/c24680
Interested in information related to this topic? Subscribe to our weekly RFID eNewsletter.