Lewes, DE -- (SBWIRE) -- 07/20/2018 -- The worldwide market for RFID Smart Cabinet is expected to grow at a CAGR of roughly 11.2% over the next five years, will reach 1030 million US$ in 2023, from 540 million US$ in 2017, according to a new study.

RFID smart cabinets are cabinets are important components of smart hospital industry. RFID technology endows cabinets with the uttermost convenient for accurate identification and a large extend on efficiency. With computing systems and platform software, uses of RFID smart cabinet usually operate with a desktop to control the whole system of RFID smart cabinet, which could be possibly used in the clinic document management or pharmacy control system. Vendors on this area mostly claim they build on scientific calculation and software to construct their system or solution for a more efficient smart hospital environment.

Scope of the Report:
This report focuses on the RFID Smart Cabinet in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

With the development of global smart health industry, and growing need for building smart and automatic pharmacy and clinic document system, the demand of RFID Smart Cabinet constantly increased in these years. As a result, the total production and sales of RFID Smart Cabinet continuously increased in recent years.

Regional market for RFID smart cabinet presented North America dominated the global RFID smart cabinet demand, with the largest consumption market which accounts for 50.32% of global market share in 2015. Growing adoption rates of healthcare information technologies and the entry of private healthcare establishments into emerging markets such as India, China, Brazil and Argentina is also expected to drive market growth over the next six years.

On an average, a hospital loses more than 15% of its assets in a year owing to fraud or misplacement of hospital supplies. In order to eliminate such losses and enhance time efficiency, hospitals are focusing on upgrading their infrastructure and incorporating RFID technology to keep track of their inventories. Therefore, the healthcare sector is the predominant end-user of RFID smart cabinets, accounting for 93.05% of the revenue share in 2015.

Rising initiatives undertaken by healthcare institutions to curb costs via the adoption of an efficient inventory management solution is expected to be a key driver for RFID smart cabinet demand. The report also observes that government regulations aimed at efficient inventory management of medical supplies in healthcare institutions coupled with the current low market penetration rate of RFID technologies in these institutions is expected to fuel market demand over future 5-10 years.

Continuous R&D and ongoing clinical trials have resulted in better product designs that incorporate advanced technological features. The development of the healthcare industry and its infrastructure have led to an increase in healthcare expenditure. Developed countries in the Americas and Europe spend the most on healthcare. Developing countries have to increase their spending dramatically to provide basic health insurance coverage, develop a primary healthcare service system, and improve the availability of medications in rural and suburban areas. This is expected to result in the reformation of public hospitals and healthcare facilities, thereby increasing the demand for laser equipment, propelling market growth.

Conclusively, the RFID Smart Cabinet manufacture industry has an expected future, the markets are still growing over time. Our analysis indicates that Europe is the largest consumption market according to our report. RFID Smart Cabinet for machine tools is the most prevalent kind among all the others. Our prediction is that the RFID Smart Cabinet market will grow over time.

The worldwide market for RFID Smart Cabinet is expected to grow at a CAGR of roughly 11.2% over the next five years, will reach 1030 million US$ in 2023, from 540 million US$ in 2017, according to a new study.

Market Segment by Manufacturers, this report covers
LogiTag Systems
Mobile Aspects
TAGSYS RFID
Terson Solutions
WaveMark
Sato Vicinity
Grifols
Skytron
Palex Medical
Nexess

Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers
RFID Reader
RFID Tag
RFID Antana
Others

Market Segment by Applications, can be divided into
Healthcare
Other

There are 15 Chapters to deeply display the global RFID Smart Cabinet market.
Chapter 1, to describe RFID Smart Cabinet Introduction, product scope, market overview, market opportunities, market risk, market driving force;
Chapter 2, to analyze the top manufacturers of RFID Smart Cabinet, with sales, revenue, and price of RFID Smart Cabinet, in 2016 and 2017;
Chapter 3, to display the competitive situation among the top manufacturers, with sales, revenue and market share in 2016 and 2017;
Chapter 4, to show the global market by regions, with sales, revenue and market share of RFID Smart Cabinet, for each region, from 2013 to 2018;
Chapter 5, 6, 7, 8 and 9, to analyze the market by countries, by type, by application and by manufacturers, with sales, revenue and market share by key countries in these regions;
Chapter 10 and 11, to show the market by type and application, with sales market share and growth rate by type, application, from 2013 to 2018;
Chapter 12, RFID Smart Cabinet market forecast, by regions, type and application, with sales and revenue, from 2018 to 2023;
Chapter 13, 14 and 15, to describe RFID Smart Cabinet sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source

Spanning over 129 pages "Forecast of Global RFID Smart Cabinet Market 2023" report covers Market Overview, Manufacturers Profiles, Global RFID Smart Cabinet Market Competition, by Manufacturer, Global RFID Smart Cabinet Market Analysis by Regions, North America RFID Smart Cabinet by Countries, Type, Application and Manufacturers, Europe RFID Smart Cabinet by Countries, Type, Application and Manufacturers, Asia-Pacific RFID Smart Cabinet by Countries, Type, Application and Manufacturers, South America RFID Smart Cabinet by Countries, Type, Application and Manufacturers, Middle East and Africa RFID Smart Cabinet by Countries, Type, Application and Manufacturers, Global RFID Smart Cabinet Market Segment by Type, Global RFID Smart Cabinet Market Segment by Application, RFID Smart Cabinet Market Forecast (2018-2023), Sales Channel, Distributors, Traders and Dealers, Research Findings and Conclusion, Appendix.

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