South Korean RFID Market Is Growing

RFID tag and readers vendors in South Korea are predicting profitable years ahead.

"The South Korean RFID market landscape is gradually changing because the large South Korean players -- mainly conglomerate companies such as Samsung Electronics and LS Industrial Systems -- are expanding their mass production capacity," says Andy Bae, an analyst with ABI Research, an Oyster Bay, N.Y.-based firm.

"Global competition is lowering tag prices," he adds, "and South Korean manufacturers will continue to build on this trend and offer very competitive prices."

Part of the increase in RFID is due to collaborative R&D projects with South Korean government-owned institutes. Through the government's initiative for technology development, national RFID trial services has played a pivotal role in increasing RFID adoption.

RFID projects, which began increasing in 2005, have been deployed in manufacturing operations, logistics, consumer goods, defense, shipping and transport. The logistics market has the highest adoption rate.

"In 2005 the HF tag segment, accounting for more than 60% of the market, led growth," Bae notes. "But from 2006, as more private companies adopt RFID, UHF and microwave will drive the market."

South Korean vendors are also working with the government and each other in an official organization that will focus on cross-sharing patents.

To view the study, "RFID Markets in South Korea," visit http://www.abiresearch.com/products/market_research/RFID_Markets_in_South_Korea


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