Research firm Gartner expects the radio frequency identification technology market worldwide to reach $504 million this year, up 39 percent from last year. As more industries adopt the technology toward the end of 2006, new license revenue will climb to $751 million. By 2010, Gartner forecasts worldwide RFID spending to surpass $3 billion dollars.
Symbol Technologies, which manufacturers RFID tags and readers, is stepping up efforts in 2006, expanding operations to meet demand. It already has a wide customer base from retail stores to airports.
In fact, when techies converge in January for the Consumer Electronics Show in Las Vegas, it's partially Symbol's RFID technology the Las Vegas McCarran Airport will use to track bags.