Thailand’s RFID market to reach $32m in 2010
Recent research from Frost & Sullivan reveals that the RFID market in Thailand was worth $16.3 million last year, and is expected to reach $32 million by 2010. “eyefortransport”
According to the Frost & Sullivan study – Thailand RFID Markets – Thailand is among the more promising RFID markets among the Asian countries, since it is the manufacturing base for many industries. Key applications for RFID include supply chain, manufacturing, and logistics, where the technology can help eliminate distance limitations, and can be applied internationally to promote trade. The country’s RFID market growth will be driven primarily by growth in manufacturing and logistics applications.
Increasing use of RFID technology presents local entrepreneurs with an early opportunity to capture this market, says the analyst of this research service. To make all this possible, awareness-raising activities and education, and training for private users and government organisations is important.
As the global market for RFID expands, Thailand is not only set to encourage the growth of the technology locally, but is anticipated to be at the forefront of the global RFID markets by 2010.
Organisations such as the National Electronics & Computer Technology Centre (Nectec) and GS1 Thailand help in this aim. The ICT Ministry is also promoting the use of RFID technology to track and trace products as part of a wider government plan to establish Thailand as a logistics hub in Indo-China.
Besides meeting the global mandates, there will also be substantial domestic demand for RFID applications in Thailand, according to the analyst. This includes tracking birds and vaccine supplies to reduce the impact of outbreaks of bird flu; tracking of food and drug items, for counterfeit/pedigree purposes, and to limit the brand damage from recall incidents, enforcing maritime port security, addressing security threats, improving government, and commercial logistics, securing e-payments through contactless smartcards.
