CoreRFID has been named as one of the leading global players in the RFID market in a report by international technology research company Technavio.
The report lists CoreRFID as one of the world’s top 20 RFID specialists. It also predicts the market will grow by £8.88bn dollars in the five years to 2026 – a combined annual growth rate (CAGR) of 10.39% – with industrial uses accounting for the biggest growth during that period. Other key sectors for RFID are financial services, retail and logistics.
Munzi Ali of CoreRFID agrees that manufacturing will be a key growth sector for RFID systems. “RFID is already widely used to track materials and goods along the production line, and there is huge scope to increase its use,” he explains.
“By automating operations and improving access to management data, RFID systems can enhance efficiency in so many ways – reducing energy, cutting raw materials usage, and ensuring items are in the right place at the right time and managing bespoke or complex production processes. At a time of rising costs and labour shortages, it makes sense for manufacturers to invest in smart production systems.”
