In its latest report, the research firm Frost & Sullivan predicts the European RFID Markets for Automotive, Aerospace and Industrial Manufacturing would accrue revenues to the tune of $109.3 million in 2012 from $23.7million last year.
The high growth is mainly due to large-scale deployment of RFID technology by the business enterprises who consider RFID being the most powerful tool to combat counterfeit of their valuable products as they pass through the supply chain.
Research Analyst Rengarajan Srinivasan from Frost & Sullivan holds the view that the unique features of RFID technology enables the development of a constant stream of innovative applications for manufacturing sectors.
