Dallas, TX -- (SBWire) -- 08/25/2014 --Global RFID Smart Cabinet Market 2014-2018 report says - one of the emerging trends in this market is the increasing awareness of RFID technology worldwide. RFID products and solutions are being adopted across industries and sectors because of their benefits.

Analysts forecast the Global RFID Smart Cabinet market to grow at a CAGR of 11.8 percent over the period 2013-2018. According to the report, one of the major drivers of this market is the increasing need for inventory management in hospitals. RFID smart cabinets are increasingly used in hospitals as they reduce manual efforts in maintaining, tracking, and managing inventory.

RFID technologies began to draw attention across several sectors, particularly in the Healthcare sector as hospitals being adopting innovative technologies to cater to critical business needs. RFID smart cabinet technology reduces manual efforts to maintain, track, and manage inventory. It helps reduce loss and misplacement of supplies, increases savings, and minimizes the risk of theft. RFID smart cabinets are primarily used by retailers, healthcare institutions, and discrete manufacturers where there is a need for inventory management.

Covered in this Report
This report covers the present scenario and the growth prospects of the Global RFID Smart Cabinet market for the period 2013-2018. To calculate the market size, the report considers the revenue generated from the sales of RFID smart cabinets as well as the unit shipments of RFID smart cabinets worldwide.

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The Global RFID Smart Cabinet Market 2014-2018 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions; it also covers the Global RFID Smart Cabinet market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

The report recognizes the following companies as the key players in the Global RFID Smart Cabinet Market: LogiTag Ltd., Mobile Aspects Inc., TAGSYS RFID Group Inc. and WaveMark Inc.

Other Prominent Vendors in the market are: CoreRFID Ltd., Meditek, Solstice Medical LLC, Stanley Innerspace and Terso Solutions Inc.

Market Driver
- Increased Need for Inventory Management in Hospitals
- For a full, detailed list, view our report

Market Trend
- Increased Awareness of RFID Technology
- For a full, detailed list, view our report

Further, the report states that one of the major challenges that the market faces is the intense competitive environment. The competition among the vendors as well as from barcoding technology has had an adverse effect on the profitability of the vendors, thereby stunting the growth of this market.

Key Questions Answered in this Report
- What will the market size be in 2018 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?