Global RFID Smart Cabinet Market is expected to reach US $ 1.5 Bn by 2026, at a CAGR of 10.2% during the forecast period. The global RFID Smart Cabinet market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global RFID Smart Cabinet report also provides trends by market segments, technology, and investment with a competitive landscape.Overview of RFID Smart Cabinet:
An RFID smart cabinet is just a storage container that has been supplemented with an RFID tool tracking system. It can be totally customized or pre-made. RFID has a number of advantages, the most important of which are that it allows organizations to enforce increased security and that it enables constant visibility and tracking of each stored object. In order for this approach to work, each item that needs to be stored must be equipped with an RFID tag. RFID readers fitted within the cabinet can keep track of when a certain item is retrieved, returned, and even who stole it.Global RFID Smart Cabinet Market Dynamics:
Increased usage of RFID-enabled cabinets is expected to fuel the market growth over the forecast period, owing to their growing applications in the healthcare, pharmaceuticals, and some other sectors (retailers, discrete manufacturers, and organizations). In terms of record-keeping and equipment tracking, RFID (Radio-frequency Identification) has a variety of uses in hospitals. The use of RFID technology in healthcare facilities has resulted in better inventory management by reducing the losses associated with medical supply mismanagement. Hospitals can convey their requirements directly to vendors, manufacturers, and distributors with the help of radio-frequency identification technology. It provides a high level of supply chain transparency. This approach also provides a suitable infrastructure for a better hospital facility and the growth of RFID in the smart cabinet market.Advantages of RFIDs:
Supply chain management, asset tracking and payments, and real-time intelligence are all aided by technology adoption. RFID tags are required by the government for tracking various industry products, such as livestock, data centers, and defense, and are proven to be important aspects of the healthcare industry's development. RFID has also grown in popularity as a result of the technological revolution, which has included GPS and the Internet of Things. This merger is likely to provide the sector with greater chances. Furthermore, RFID has a track record for various RFID advances, including RFID warehouse management, RFID fleet management, and three patents on RFID systems.Global RFID Smart Cabinet Market Segmentation:
To know about the Research Methodology :- Request Free Sample Report Depending upon the application, the RFID smart cabinet market is segmented into healthcare and others. During the projected period, the healthcare application category is expected to be the largest market for RFID smart cabinets, with a market share of over 90.12% expected by 2020. The increasing requirement for inventory management in hospitals is responsible for much of this segment's growth. RFID smart cabinets help to reduce shrinkage and improve overall supply chain performance in this industry. The introduction of RFID for hospitals automates these procedures, allowing critical staff to focus on providing high-quality treatment. For tracking and controlling medical devices, a hospital introduced smart cabinets with RFID technology in their operating rooms and cath laboratories. The medical center was able to replace a bar-code system with smart cabinets' RFID technology and build a uniform platform that identifies all vendors and connects directly with the hospital's ERP system, which was previously impossible.
Global RFID Smart Cabinet Market Regional Insights:
In terms of revenue share, North America dominated the total market in 2019, followed by Europe. One of the primary reasons driving market growth in North America is the increasing adoption rate of RFID technology due to the availability of well-developed healthcare infrastructure. Due to significant adoption due to hospital pricing, the local presence of players, and the availability of advanced institutions, the United States accounted for the greatest proportion of North America in 2019. To get real-time asset count and movement, information from the smart cabinet can be forwarded to a centralized cloud platform. For inventory management, these technologies are presently implemented in the majority of Singapore's restructured hospitals.Growth in APAC region:
In terms of revenue, Asia Pacific is the most appealing and fastest-growing market for RFID smart cabinets, owing to increased awareness, hospital affordability, the presence of sophisticated hospitals, and local player presence, all of which have led to increased adoption of this product in this region. Furthermore, the RFID smart cabinet market in Europe is expected to increase due to the introduction of promising laws for cost-controlling systems across various healthcare companies. The lack of understanding about the advantages of RFID smart cabinets, on the other hand, is impeding the market's growth. The objective of the report is to present a comprehensive analysis of the Global RFID Smart Cabinet Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global RFID Smart Cabinet Market dynamics, structure by analyzing the market segments and project the global RFID Smart Cabinet market size. Clear representation of competitive analysis of key players By Application, price, financial position, product portfolio, growth strategies, and regional presence in the Global RFID Smart Cabinet Market make the report investor’s guide. Recent Launches: September 2020 - IntelliGuard, a world leader in RFID medicine management technology had launched its next-generation “Vendor Managed Inventory” system. This brand-new cloud-based platform offers IoT capabilities as well as a turn-key solution for medicine inventory distribution and replenishment tracking in real-time. May 2019 - Stora Enso had launched the availability of a turnkey solution for automated and unmanned retail. New Retail by Stora Enso combines in-store and online buying through the use of long-lasting RFID (Radio Frequency Identification) tags for wireless authentication and payment.Global RFID Smart Cabinet Market Scope: Inquire before buying
Global RFID Smart Cabinet Market, By Region
• North America • Europe • Asia Pacific • Middle East & Africa • South AmericaGlobal RFID Smart Cabinet Market Key Players
• Terson Solutions • WaveMark, Inc. • Solstice Medical • LogiTag • Invengo Technology BV • Mobile Aspects Inc. • Nexess • SATO Vicinity • Skytron • SkyeTek • TAGSYS RFID • Grifols • Palex Medical • Other Key Players
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global RFID Smart Cabinet Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2019 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the RFID Smart Cabinet Market 3.4. Geographical Snapshot of the RFID Smart Cabinet Market, By Manufacturer share 4. Global RFID Smart Cabinet Market Overview, 2019-2026 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global RFID Smart Cabinet Market 5. Supply Side and Demand Side Indicators 6. Global RFID Smart Cabinet Market Analysis and Forecast, 2019-2026 6.1. Global RFID Smart Cabinet Market Size & Y-o-Y Growth Analysis. 7. Global RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 7.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 7.1.1. Healthcare 7.1.2. Others (Retailers, Discrete Manufacturers, and Organizations) 8. Global RFID Smart Cabinet Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2019-2026 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 9.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 9.1.1. Healthcare 9.1.2. Others (Retailers, Discrete Manufacturers, and Organizations) 10. North America RFID Smart Cabinet Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 11.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 12. Canada RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 12.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 13. Mexico RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 13.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 14. Europe RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 14.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 15. Europe RFID Smart Cabinet Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 16.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 17. France RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 17.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 18. Germany RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 18.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 19. Italy RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 19.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 20. Spain RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 20.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 21. Sweden RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 21.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 22. CIS Countries RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 22.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 23. Rest of Europe RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 23.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 24. Asia Pacific RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 24.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 25. Asia Pacific RFID Smart Cabinet Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2019-2026 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 26.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 27. India RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 27.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 28. Japan RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 28.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 29. South Korea RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 29.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 30. Australia RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 30.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 31. ASEAN RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 31.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 32. Rest of Asia Pacific RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 32.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 33. Middle East Africa RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 33.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 34. Middle East Africa RFID Smart Cabinet Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2019-2026 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 35.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 36. GCC Countries RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 36.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 37. Egypt RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 37.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 38. Nigeria RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 38.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 39. Rest of ME&A RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 39.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 40. South America RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 40.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 41. South America RFID Smart Cabinet Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2019-2026 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 42.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 43. Argentina RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 43.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 44. Rest of South America RFID Smart Cabinet Market Analysis and Forecasts, 2019-2026 44.1. Market Size (Value) Estimates & Forecast By Application, 2019-2026 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global RFID Smart Cabinet Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. ABB 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Terson Solutions 45.3.3. WaveMark, Inc. 45.3.4. Solstice Medical 45.3.5. LogiTag 45.3.6. Invengo Technology BV 45.3.7. Mobile Aspects Inc. 45.3.8. Nexess 45.3.9. SATO Vicinity 45.3.10. Skytron 45.3.11. SkyeTek 45.3.12. TAGSYS RFID 45.3.13. Grifols 45.3.14. Palex Medical 45.3.15. Other Key Players 46. Primary Key Insights