RFID technology uses radio waves to electronically identify objects. It consists of tags that contain information transmitted to a reader, and has applications in access control, asset tracking, supply chain management, and more. A survey found that most companies interested in RFID were in education, manufacturing, retailing, and warehousing. Further development of RFID may include medical and library uses. While RFID provides benefits over barcodes like contactless reading, it also faces challenges from higher costs and developing standards.