RFID Technologies Find Greater Demand Across Different Industries
Counterfeit goods may look like a good bargain but are costly mistakes. The manufacturing and sale of copied product are a multi –billion-dollar problem worldwide. This, enabled RFID market gain great momentum over the past few years, to curb such serious economic ramifications and hand of orderly crime by ensuring protection against illegal cloning. RFID tags used on consumer durables like electronic gadgets, automobiles, clothing and accessories, pharmaceuticals, beauty products, food and beverage etc. are unique for all products and obviously impossible to copy and tamper with. By tagging, tracking and identifying the products that travel through several phases, on an individual basis the possibilities of counterfeiting before they reach their final destination are lowered. Scanning these tags and scrutinizing ePedigree, permits the wholesalers or retailers to gauge the identity and route in the supply chain structure. Specific data such as the color, weight, shape and more helps one detect counterfeiting. As a bonus RFID is now considered an effective solution against theft or shrinkage in the supply chain as well as the end destination. Industries across the globe are finding newer application for RFID as technology matures. In recent times
Anti-Counterfeit electronics and automobiles packaging market has emerged as a sweet spot RFID especially with rising piracy in electrical and electronic products. Interests in using anti –counterfeit technologies such as FiTs; government regulations and increased demand by consumers for implementation of identification setup, would accelerate the use of RFID technologies in the electronics and automobile packing industry. Business leaders eyeing the growing applicability of RFID in electronic and automobile sector indicate that Asia – Pacific regions is anticipated to register a CAGR of 11.1 percent during the forecast period 2015 -2019, while North America still tops as the most lucrative market. Use of RFID technologies have also outgrown in the anti-counterfeit clothing and accessories packaging market majorly due to the malpractices in the clothing and accessories that have completely shifted from physical markets to e-Commerce model. By deploying RFID solutions manufacturers or retailers can obtain a real –time visibility of their inventory, thereby improving the different essentials of inventory management. Each product in a particular shipment is assigned a unique identifier to enhance quality assurance and ensure counterfeit protection.
Furthermore, applying RFID tags in the pharmaceutical and cosmetics as well as food and beverage market has also enhance several loss prevention measures. By offering an additional layer of intelligence with to dominant technologies like ePedigree these industries have tightened their surveillance methods. In addition, tracking is also in demand in the anti-counterfeit packaging market in security document and event ticketing business. In the near future, it’s advisable to consider RFID needs in the package planning phase itself. If the package already exists, then business leaders should consider improving it to make the order more RFID –friendly. This would help manufacturers and retailer save costs and overcome all inaccurate reading.