Dublin, Oct. 17, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global RFID Smart Cabinet Market 2016-2020" report to their offering. The global radio-frequency identification (RFID) smart cabinet market to grow at a CAGR of 14.03% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global radio-frequency identification (RFID) smart cabinet market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of RFID smart cabinets. The report also includes a discussion of the key vendors operating in this market.
RFID technologies are gaining high attention from multiple sectors, especially healthcare, where hospitals have started adopting innovative technologies to address critical business needs. Smart cabinets based on RFID technology help reduce manual efforts to maintain, track, and manage inventory. They also help reduce loss and misplacement of supplies, minimize the risk of theft, and increase savings. Retailers, healthcare institutions, and discrete manufacturers are the prime users of RFID smart cabinets as the need for inventory management is critical to these businesses.
Increasing awareness of RFID technology in different industries is a major trend in the market. This growing awareness can be primarily attributed to the high adoption of RFID technology worldwide. The beneficial features of RFID devices such as high efficiency and quality and low error rate drive their adoption. RFID smart cabinets are used in conjunction with advances in medical device technology for purposes such as ensuring the integrity of human tissue and medical devices. Further, the report states that the presence of vendors in a few countries, mainly in developed countries such as the US, poses a major challenge to the market's growth. Many countries have not yet introduced RF bandwidths for use in the healthcare and public sectors. A significant number of organizations worldwide are satisfied with manual processes and are unwilling to shift to modern technologies. These factors, as well as competition from barcoding technology, have diminished the penetration of RFID smart cabinets globally.
Key questions answered in this report
- What will the market size be in 2020 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?
Key vendors
- LogiTag Systems
- Mobile Aspects
- TAGSYS RFID
- Skytron
- SkyeTek
- SATO Vicinity
- SATO Vicinity
- WaveMark
Other prominent vendors
- Solstice Medical
- Terso Solutions
Key Topics Covered Part 01: Executive summary Part 02: Scope of the report Part 03: Market research methodology Part 04: Introduction Part 05: RFID technology overview Part 06: RFID market overview Part 07: RFID smart cabinet market landscape Part 08: Market segmentation by application Part 09: Geographical segmentation Part 10: Market drivers Part 11: Impact of drivers Part 12: Market challenges Part 13: Impact of drivers and challenges Part 14: Market trends Part 15: Vendor landscape Part 16: Market summary Part 17: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/r4...rfid_smart
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