RFID Market Skyrocketing In Asia, Australia

Frost & Sullivan projects radio frequency identification revenue to more than triple from 2008 to 2016 as technology is adopted across verticals.

The market for radio frequency identification (RFID) technology in Southeast Asia and Australia-New Zealand earned revenue of over $80 million in 2008 -- a number that is expected to skyrocket to over $250 million by 2016, according to research firm Frost & Sullivan. RFID is living up to its reputation as a "breakthrough technology," the firm said, as several initiatives are starting across a number of different vertical industries in those regions.