Another important benefit of RFID is the read/write capability of the tag in asset tracking, meaning new information can be added to asset tags. The whole history of a product will be available at your fingertips, allowing the benefits of RFID asset tracking to extend into areas like service and warranty tracking and automatic product returns. It is unlikely that the technology will ultimately replace barcode—the integrated circuit in an RF tag will never be as cost-effective as a barcode label.
However, since RFID is an ever-emerging technology, it does not enjoy the depth in product offering found with the other older technologies like bar coding or electronic article surveillance (EAS). According to AIM and its Association for Automatic Identification and Data Capture Technologies, Pittsburgh, Penn., “RFID will continue to grow in its established niches where barcode or other optical technologies are not effective. If some standards commonality is achieved—whereby RFID equipment from different manufacturers can be used interchangeably—the market will very likely grow exponentially. It is uncertain whether RFID will cost cut and ultimately replace other methods of technology, such as bar coding. But it is quickly making strides, as evidenced by some of the major players creating better RFID systems.”