The RFID chip has come a long way since its invention, see the journey below:
1940's - Radar technology was used to identify enemy and friendly aircrafts in WWII. Technically this was the first use of RFID
1948 - Scientist and inventor Harry Stockman creates RFID and is credited with the invention.
1963 - Inventor RF Harrington formulates new RFID ideas which include scattering data and information.
1977 - The first RFID transmitting license plate is created.
2000 - By this time over 1000 patents have been submitted using the RFID technology
In 2015, the RFID market will be valued at $26 billion. Considering that the 2005 market was at $1.95 billion, that's a $24 billion increase.
Experts believe that RFID will be ubiquitous in 20 years, this may be hard to believe if you are not one of the businesses on the cutting edge of RFID, but many have adopted this technology to reduce costs and streamline operations. The benefits they gain as a result of this adoption are real and there is no turning back.