Companies providing RFID technology and solutions experienced 20 to 30 percent growth

Companies providing RFID technology and solutions experienced 20 to 30 percent growth in the past year, and most expect to see more of the same going forward.

That growth has occurred despite a worldwide chip shortage that is expected to ease in 2024, according to a new European EPC Competence Center (EECC) report titled RFID Market Survey.

The survey finds that RFID plays a major role in a more crowded IoT or automatic-identification market, while 7 percent of respondents voted for other technologies. RFID will not replace barcodes, the report indicates, while technologies such as active auto-ID systems—for example, computer vision—are expected to grow as well.