Global RFID Smart Cabinet Market 2016-2020

Published: Sep 2016 Pages: 60 SKU: IRTNTR8690

Outlook of the global RFID smart cabinet market

Technavio’s market research analyst predicts the global RFID smart cabinet market to grow steadily at a CAGR of around 14% during the forecast period. The increasing need for inventory management in hospitals is the primary growth driver for this market. RFID smart cabinets provide accurate, real-time tracking at the item level. They also eliminate the risk of stock-outs, reduce inventory waste, and prevent shrinkage, and equipment losses. Due to these benefits, numerous hospitals from across the globe have started to adopt RFID smart cabinets as they help in the efficient tracking of their supplies at the item level.

The high adoption of RFID smart cabinets in emerging countries will impel the prospects for growth in this market during the forecast period. The advent of private healthcare establishments and the rising adoption of healthcare information technologies in developing countries, such as India, China, and Brazil, have led to the augmented adoption of RFID smart cabinets in hospitals during the forecast period.

Application-based segmentation of the RFID smart cabinet market

  • Healthcare
  • Others (retailers, discrete manufacturers, and organizations)

The healthcare application segment will be the largest market for RFID smart cabinets during the forecast period and will account for an impressive market share of around  90% until 2020. Much of this segment’s growth can be attributed to the increasing need for inventory management in hospitals. In this sector, RFID smart cabinets help to reduce shrinkage and improves the overall supply chain performance.

Geographical segmentation of the RFID smart cabinet market

  • Americas
  • APAC
  • EMEA

In terms of geography, the Americas dominate this market and is envisaged to grow at a CAGR of approximately 13% during the forecast period. One of the primary reasons for the high revenue contribution of this region is the high adoption of RFID technology in advanced healthcare infrastructure.

Competitive landscape and key vendors

The global RFID smart cabinet market is fragmented and is characterized by the presence of many players that account for a significant portion of the overall market share. The competition among the vendors operating in the market is very high and is anticipated to increase over the next few years. Factors such as the presence of a small customer base and rapid advances in technology are will intensify the level of competition among the vendors.

The leading vendors in the market are -

  • LogiTag
  • Mobile Aspects
  • TAGSYS RFID
  • WaveMark

Other prominent vendors in the market include Skytron, Terso Solutions, Solstice Medical, Skyetek, CoreRFID, and Stanley InnerSpace.

Key questions answered in the report include

  • What will the RFID smart cabinet market size and the growth rate be in 2020?
  • What are the key factors driving the global RFID smart cabinet market?
  • What are the key RFID smart cabinet market trends impacting the growth of the 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 vendors in the global RFID smart cabinet market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the RFID smart cabinet market?

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Table of Contents

PART 01: Executive summary

  • Highlights

PART 02: Scope of the report

  • Market overview
  • Vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights

PART 05: RFID technology overview

  • Components of RFID system
  • RFID cost structure

PART 06: RFID market overview

PART 07: RFID smart cabinet market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis

PART 08: Market segmentation by application

PART 09: Geographical segmentation

  • Americas
  • EMEA
  • APAC

PART 10: Market drivers

  • Growing need for inventory management in hospitals
  • Rising government funding for hospitals
  • Increasing healthcare spending
  • Supply chain inefficiencies

PART 11: Impact of drivers

PART 12: Market challenges

  • Intense competition
  • Low market penetration
  • High cost of operation
  • Decline in customer base

PART 13: Impact of drivers and challenges

PART 14: Market trends

  • Growing awareness of RFID technology
  • Rapid technological advances in RFID
  • Increasing government regulations and aid
  • High R&D spending by vendors
  • Increase in number of diagnostic centers and state-of-the-art hospitals

PART 15: Vendor landscape

  • Competitive scenario
  • Vendors
  • Other prominent vendors

PART 16: Market summary

PART 17: Appendix

  • List of abbreviations

PART 18: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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