This year, China leapt to become the world's largest market for RFID by value, with 40% share of money spent worldwide mainly driven by a few huge projects. However, in the IDTechEx RFID Knowledgebase of 3000 projects in 98 countries, China is now third by number of projects, so now it is getting the variety too. Three years ago it was not even in the top ten. There is a potential for 100 billion printed RFID labels yearly in China even before the trillions of consumer goods are tagged at item level.
IDTechEx technical director Ning Xiao MSc, a Chinese citizen himself, says, "The Chinese RFID market will grow to $4.22 billion in 2017. IDTechEx frequently visits the region and we can help you with your printed electronics strategy in the area. Contact me on firstname.lastname@example.org or, on UK time, 44 1223 810271."
Some of the RFID potential in China: printed or partially printed and often driven by new laws.
A survey conducted by business think tanks Global Futures and Foresight (GFF) and Fast Future 'The Future of China's Economy, The Path to 2020 - Opportunities, Challenges and Uncertainties' was published on the 22 March 2007. Key findings highlighted in the report include:
- 30% believe China's Economy will overtake that of the USA by 2025 and 73% believe it will happen by 2035.
- 89% think international companies will consider it essential to be listed on a Chinese stock market.
- 78% believe that the Chinese stock market will overtake the NYSE.
- 60% believe Chinese companies could become the largest grouping amongst the Fortune Global 500 by 2040.
- 45% think Chinese practices will enter western corporate life.
- 48% believe key industry and market decisions will be taken in China
- 70% believe it will be considered normal for US and European workers to be employed by Chinese owned companies by 2030
- 55% expect China to increasingly become the launch market for new products and services
Here is the warning, however:
- 65% claim to have had no direct Chinese business experience
- 65% receive no revenues or profits from China