RFID Technology - The Next Big Thing in China`s Economy
Released on = December 1, 2006, 3:52 am
Press Release Author = RNCOS
Industry = Industrial
Press Release Summary = China’s eleventh Five-Year Plan (2006-2010) has
enumerated specific goals for implementation of RFID technology by Chinese
companies.
Press Release Body = The Chinese government has laid special emphasis on the
development of RFID technology. The government envisages that large-scale
implementation of this technology in different sectors of the economy will fuel
increased efficiency with respect to supply-chain management, availability of
accurate and relevant data, and crucial cost savings. The government zeal for RFID
systems for overall efficiency is louder than ever.
RFID finds applications in security access, or even for tracking library and act as
vending machines for money transactions. Most systems that deploy RFID technology
use High Frequency devices such as smart cards that have a variety of applications
such as in transportation, anti-counterfeiting, ticketing and others.
Experts say there’s immense scope of High Frequency RFID systems in China
especially in citizen identification cards such as passports for authorized access.
Multinational companies like WalMart, which has large merchandising presence in
china and has made public that its suppliers should use RFID chips that will enable
the company to efficiently keep track of inventory across the supply chain.
RNCOS recent report, “RFID Industry Analysis 2006”, highlights the
prospects of the global RFID technology in different regions of the world. According
to the report RFID technology will find applications in different sectors of the
Chinese economy.
The Chinese government, realizing the potential of this industry has laid special
emphasis on the development on this technology. Industries such as manufacturing and
transportation are likely to be major purchasers RFID technology in the period
2005-2009. Moreover, with the rising growth of retail industry especially organized
retail in china, RFID will find application in end-to-end supply management as well
as Logistics.
The report addresses important aspects of RFID industry, such as:
- The status of Global RFID Market.
- The future projection of RFID hardware components and RFID software and services
market.
- The applications and chances associated with RFID.
- The prospects of RFID in various applications such as in Supply chain Management,
Asset Tracking and Point of sale applications
- The potential of RFID in various vertical segments such as Consumer Packaged
goods, Retail Units, Healthcare/Pharmaceutical sector and Commercial Sector
- The challenges before RFID industry.
About RNCOS:
RNCOS, incorporated in 2002, provides Market Research Reports for your business
needs and aims to put an end to your information pursuit. Our expertise in gathering
global business information for industry research, corporate training, growth
consulting, and business consulting, brings reputed companies and firms to us for
business enhancement solutions. We can be your one-stop-shop for Industry research
information and niche market analysis.
For more information visit: http://www.rncos.com/Report/COM32.htm
Current Industry News: http://www.rncos.com/blog
Web Site = http://www.rncos.com
Contact Details = RNCOS
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92
91-11-4214-1229
info@rncos.com
2009
