Global
RFID smart cabinet market is segmented into standard form and customized form,
based on product. RFID smart cabinet serves multiple objectives for various
business domains. One of the most profound uses of RFID smart cabinets caters
to hospitals and medical institutions. Using a patent protected RFID technique
coupled with point-of-use reporting, smart cabinets enable a precise, real-time
inventory management at the stock and inventory level.
Technically,
RFID smart cabinet works on RFID principle. RFID labels are placed on item
package or box and the item’s barcode gets scanned to enroll into the system.
Enrolled stock is then ready for placement in the smart cabinet. Individual
stock is then placed on the shelves with the RFID tags facing towards the rear
of cabinet. In the end, cabinet doors are closed & items are ready for use.
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On
a commercial scale, RFID technologies gain a higher attention from diverse
sectors particularly in healthcare areas. Advantages in using RFID smart
cabinets enable effortless maintenance, easier tracking and sophisticated
managing of inventory. Rising awareness of RFID technology is an ongoing trend
in the market. Overall, the RFID smart cabinet market is anticipated to rise at
a higher CAGR during the assessment period.
RFID
smart cabinet market is driven by factors such as growing awareness by
healthcare organizations to cut costs by adopting a competent inventory
management solution. Additionally, the growing curve for healthcare
technologies and the entry of private organizations into fertile markets such
as India, China is also anticipated to grow the market for forecast period.
However, a significant number of organizations satisfyingly use manual
processes and have display unwillingness towards adoption of modern
technologies, such factors are somewhat likely to impede the market growth for
the forecast period.RFID smart cabinet market is segmented into hospitals and
large clinic, based on end-user. Hospitals are further segmented into medical
equipment tracking and medical equipment record maintenance.
RFID
smart cabinet market spans North America, Latin America, Europe, Asia-Pacific,
and Middle-East & Africa. North America dominates the global market owing
to high use of cabinets in U.S. Also, the North American market was estimated
to be at a higher CAGR during the forecast period in terms of revenue. APAC
regions and Latin American regions are anticipated to grow at a higher CAGR
owing to tremendous growth in healthcare organizations encouraged by past
economic developments.
The key players in the RFID smart cabinet market include LogiTag
Systems, Mobile Aspects, TAGSYS RFID, Terson Solutions, WaveMark, Sato
Vicinity, Grifols, Palex Medical, and Nexess.
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