The Asia Pacific RFID supply chain market earned $170.3 million in 2006 and will reach $646.3 million in 2013 according to a new study from Frost & Sullivan.
"Presently, the key driver for RFID adoption in the supply chain for the Asia Pacific market is compliance with mandates set by retail giants located in the U.S. or Europe," says Richard Sebastian of Frost & Sullivan. "Once end users begin to realize that RFID's value extends beyond mere mandate compliance, this technology is expected to experience large-scale adoption."
An increasing number of mandates in Asia Pacific will indirectly spur RFID adoption in the supply chain within this region says Frost & Sullivan. Other companies and organizations in this region are expected to announce new mandates once they deploy RFID within their own supply chain. The ratification of standards and frequency allocation for RFID technology will make it more feasible for end-user adoption.
"To build on this greater interest in RFID, all parties involved with it need to better educate end users about its actual benefits, without over-hyping it," remarks Sebastian. "Although end users more or less understand what RFID technology is on a general level, they are unable to comprehend how RFID can transform their supply chain to be more efficient, and hence, earn them ROI."
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