RFID Market to Grow 14% by 2014, Report Predicts

The market for radio frequency identification technologies will grow through the next five years, ABI Research predicted in a report.

The overall market will exceed $8.25 billion in 2014, or $7.46 billion excluding automobile immobilization, a 14% compound annual growth rate, ABI said.

In 2010, the RFID market will reach $4.47 billion, 15% more than 2009, ABI said in a statement Friday.

“Modernizing” applications, which include asset management, cargo tracking and security, and other fields, will grow rough 19% between 2010 and 2014, ABI said. “Traditional” applications, such as toll collection and access control, will only grow 6%.

ABI Research is a research firm focusing on connectivity and related technologies.