Felton, 28 November
2019 - RFID Smart Cabinets Market is
anticipated to witness exponential growth in the forecast period. RFID smart
cabinets imply a progressive solution for handling high-value medical devices
and consignment stock. With the assistance of RFID smart cabinets, medical
components or devices and consignment stock can be managed in real time to
remove stock-outs and expired items.
Factors, such as increasing inventory management in
healthcare infrastructure and supply-chain efficiencies, technological
advancement, increasing R&D research, rising government expenditure on
hospitals, widespread awareness among patients and expanding telecommunications
sector are likely to drive the RFID smart cabinets industry in the forthcoming
period.
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On the other hand, lack of awareness about the benefits of
RFID smart cabinets and increase in strict government rules and regulations
regarding personnel and safety quality control is anticipated to hinder
radio-frequency identification smart cabinets market growth in future. However,
established healthcare infrastructure is likely to create lucrative
opportunities for the market. RFID (radio-frequency identification) smart
cabinets industry is anticipated to expand at a significant CAGR in the
upcoming period as the scope, product types, and its applications are
increasing across the globe.
RFID smart cabinet market could be explored by type, product
type, deployment, application, and geography. The market could be explored by
type as Standard Form and Customized Form. Based on product type, the
radio-frequency identification smart cabinets industry could span RFID Antenna,
RFID Reader, RFID Tag, and Others. Based on deployment, the industry could span
as on-premises and cloud.
The key applications that could be explored in the RFID
(radio-frequency identification) smart cabinet market include Healthcare and
Others (discrete manufacturers, retailers, and organizations). The “Healthcare”
segment accounted for a prominent share in the market. It is likely to witness
substantial growth in the years to come. The key factors that could be
attributed to the growth of the market include the rising need for inventory
management in hospitals. In this segment, RFID smart cabinets support to
decrease shrinkage and progresses the overall supply chain performance.
North America is a leading region in the market. It is
likely to maintain its dominance in the forecast period owing to factors, such
as the important implementation of RFID enabled smart cabinets among different
medical institutions, development in technologies, better government
initiatives, increasing consciousness, booming healthcare sector and surge
acceptance of RFID smart cabinets owing to growing affordability. North America
is followed by the Asia-Pacific region owing to the affordability of hospitals,
growing awareness. India and China are the major dominating region in
Asia-Pacific.
Key players operating in the RFID smart cabinet industry
include Terson Solutions, solstice Medical, Wave Mark, LogiTag, SATO Vicinity,
Nexess, Skytron, Mobile Aspects Inc., Invengo Technology BV, SkyeTek and among
others. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
Market Segment:
RFID Smart Cabinet
Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Europe
• Asia Pacific
• Central &
South America
• Middle East
& Africa
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Insights, Download Brochure @ https://www.millioninsights.com/industry-reports/rfid-radio-frequency-identification-smart-cabinets-market
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