Growth of RFID because of IOT

RFID equipment revenue – transponders, readers, software and services – is expected to double to $22 billion by 2020! As an integral layer of the Internet of things (IOT), RFID has regained its space as an important and growing technology for the future. Nina Turner, a research manager at IDC, notes that while RFID failed to live up to its lofty initial expectations, "its future is far from hopeless".   Near field communications is another newer technology that is gaining traction as a last-mile information linking standard. NFC is a version of RFID that works in a more finely honed fashion with a maximum range of about 10 centimetres, and can be set up for one- or two-way communications.