T.E. Raja Simhan
ChennaiFeb. 9A study to identify the market potential for Radio Frequency Identification (RFID) technology will be undertaken by GS1 India, a not-for-profit organisation affiliated to the Belgium-based GS1 International.
RFID is an automatic identification method that relies on storing and remotely retrieving data using devices called `RFID tags' or transponders. Along with GS1, companies such as Microsoft and Texas Instruments would be part of the studythat would be done in the next 3-4 months, Mr Ravi Mathur, Chief Executive Officer of GS1, told
The study will assess RFID's potential for various applications, he said on the sidelines of a seminar on `Leveraging peripheral technology to improve competitiveness in manufacturing and logistics'. The seminar was organised by the CII Institute of Logistics.
The global market opportunity for RFID is estimated to reach more than $4 billion by 2008 with estimated spending on the technology to range between $515 million and $3.8 billion next year alone, industry sources say.