South East Asian and Australia New Zealand Region are now gearing up to take advantage of the efficient and highly secured RFID technology, which are being deployed across various application sectors. 

Gaining its recognitions as the breakthrough technology, end users are now using it as a device that will help them achieve the competitive edge. As per the analysis conducted by Frost & Sullivan (News - Alert), the Growth Partnership Company and South East Asia and Australia New Zealand RFID market, the RFID market revenue is estimated to cross $250 million by 2016 with 2008 earning to be over $80 million itself.

RFID’s usage has been promoted by various government and industry based associations across numerous verticals such oil and gas, mining, casino chips, prison, CD/DVD and aviation to highlight its potential benefits. While the aviation industry has taken advantage of this technology to secure itself from the continual global economic slowdown, some potential end users are looking forward to implement the RFID technology for improved efficiency, reduction in wastage and increased security for a protifitable turnover. Ultimately, several end user segments have deployed full-scale RFID technology after being satisfied with the initial trial results thus leveraging the current competitive market needs.

Even though the benefits seem huge, the most challenging factor governing the RFID industry is the high cost of ownership of this technology hence the reason for low traction. According to Richard Sebastian, Frost & Sullivan Industry analyst, “Many stakeholders are deterred by the total cost of ownership, as both hardware and system integration cost can be significant – particularly for larger-scale rollouts. Hence, many potential end users prefer to wait for the costs to reduce before deploying the technology.” 

However, the knowledge ecosystem which shows the finding of the RFID evaluation phase and RFID training programs are encouraging companies to re-consider and deploy full and cross-facility implementation. Sebastian noted that initial result did conclude the fact that RFID solution is bound to be cost-effective with improved operational efficiency and enhanced security levels.

After analyzing cost-benefits and deducing potential gains, Stakeholders now believe that the RFID technology is pivotal for long-term sustainability and profitability of the enterprise. By aggressively taking advantage of the RFID technology, Stakeholders can now benefit from its promising Return on Investment (ROI).