Addition strengthens Avery Dennison’s position in industrial segment, also adds to its HF and LF capabilities.
David Savastano, Editor12.04.19
RFID is a rapidly growing field, ranging from retail (apparel and other goods) to industrial markets and inventory control. In its 2019 report, “RFID Forecasts, Players and Opportunities 2019-2029,” IDTechEx estimated the value of the RFID ecosystem, including tags, readers, software and services, at $11.6 billion in 2019, growing to $15.2 billion by 2024. For apparel alone, IDTechEx figures that more than 10 billion RFID tags are used annually, or about 10% of the apparel market. There is plenty of room for growth.
Meanwhile, IDTechEx places the 2019 revenue for the HF market, including NFC, at $3,842 million. This includes contactless payment and transit cards.
With an eye on this growth, Avery Dennison made a major move, acquiring the RFID inlay business of Smartrac Group, thus combining two major RFID suppliers, for €225 million, subject to certain closing and post-closing adjustments. Smartrac’s RFID inlay division had an estimated revenue of approximately
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