+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Global RFID Enabled Smart Cabinets Market Size, Trends & Growth Opportunity, By Deployment Type, By End Use, Regional Outlook, Competitive Market Share & Forecast, 2022-2027

  • PDF Icon

    Report

  • 112 Pages
  • February 2023
  • Region: Global
  • Qualiket Research
  • ID: 5749243

Global RFID Enabled Smart Cabinets Market

Global RFID Enabled Smart Cabinets Market was valued at USD 987.15 million in 2022 and is slated to reach at USD 1799.27 million by 2027 at a CAGR of 11.29% from 2022-2027.

RFID enabled smart cabinets provide an advanced solution for handling consignment stock and high value medical devices. RFID enabled smart cabinets can minimize audit work and counting done by sales by various sales associates. In hospitals, RFID applications found in different end-use which contents record maintenance, and equipment tracking to prevent losses related to mishandling of medical supplies.

Market Drivers

Increase in need to manage inventory cost of high value supplies is considered as key driving factor which is expected to boost the global RFID enabled smart cabinets market growth. These systems are relying on real time data to automate clinician workflows and streamline communication processes for supply chain management. It reduces the time, cost, and manual efforts spent to store, track, maintain, and manage high value materials in surgical settings of hospitals like interventional radiology, orthopaedics, oncology, cardiovascular, and catheterization labs.

Furthermore, RFID enabled smart cabinets provides various benefits including improved inventory management, improved patient safety, return on investment, and automatic recording of movements which expected to drive the market growth.

Market Restraints

However, high cost is the major restraining factor which is expected to hinder the global RFID enabled smart cabinets market growth. An installation and maintenance cost of RFID enabled smart cabinets is around USD 20,000 - USD 50,000. Hospitals and clinics in developing countries cannot be expected to incur such costs.

Also, lack of awareness about the benefits of RFID enabled smart cabinets will obstruct the market growth during this analysis period.

Impact of Covid-19

The market growth rate for radio-frequency identification (RFID) smart cabinets is positively impacted by COVID-19. In this pandemic era, there is a significant need for medical equipment and supplies. This necessitates effective and efficient inventory management solutions, which are in turn driving up demand for RFID-enabled smart cabinets.

Recent Development

IntelliGuard announced the release of its next-generation "Vendor Managed Inventory" system in September 2020, which includes internet of things capabilities as well as a turn-key solution for medicine inventory distribution.

Market Segmentation

The Global RFID Enabled Smart Cabinets Market is segmented into deployment type such as On-Premise, and Cloud.

Further, the market is segmented into end use such as Hospitals, Clinic, Bio-Pharmaceutical Companies, and Others.

Regional Analysis

The Global RFID Enabled Smart Cabinets Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as Terson Solutions, Solstice Medical, LogiTag, WaveMark, SATO Vicinity, Skytron, Mobile Aspects Inc., Invengo Technology, and Nexess.

Market Taxonomy

By Deployment Type

  • On-Premise
  • Cloud

By End Use

  • Hospitals
  • Clinics
  • Bio-Pharmaceutical Companies
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Table of Contents

1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope

2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources

3 Executive Summary

4 Global RFID Enabled Smart Cabinets Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis

5 Global RFID Enabled Smart Cabinets Market, By Deployment Type
5.1 Y-o-Y Growth Comparison, By Deployment Type
5.2 Global RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type
5.3 Global RFID Enabled Smart Cabinets Market Size and Forecast, By Deployment Type
5.3.1 On-Premise
5.3.2 Cloud

6 Global RFID Enabled Smart Cabinets Market, By End Use
6.1 Y-o-Y Growth Comparison, By End Use
6.2 Global RFID Enabled Smart Cabinets Market Share Analysis, By End Use
6.3 Global RFID Enabled Smart Cabinets Market Size and Forecast, By End Use
6.3.1 Hospitals
6.3.2 Clinics
6.3.3 Bio-Pharmaceutical Companies
6.3.4 Others

7 Global RFID Enabled Smart Cabinets Market, By Region
7.1 Global RFID Enabled Smart Cabinets Market Share Analysis, By Region
7.2 Global RFID Enabled Smart Cabinets Market Share Analysis, By Region
7.3 Global RFID Enabled Smart Cabinets Market Size and Forecast, By Region

8 North America RFID Enabled Smart Cabinets Market Analysis and Forecast (2022 - 2027)
8.1 Introduction
8.2 North America RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type
8.3 North America RFID Enabled Smart Cabinets Market Size and Forecast, By End Use
8.4 North America RFID Enabled Smart Cabinets Market Size and Forecast, By Country
8.4.1 U. S
8.4.2 Canada
8.4.3 Mexico

9 Europe RFID Enabled Smart Cabinets Market Analysis and Forecast (2022 - 2027)
9.1 Introduction
9.2 Europe RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type
9.3 Europe RFID Enabled Smart Cabinets Market Size and Forecast, By End Use
9.4 Europe RFID Enabled Smart Cabinets Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Rest of Europe

10 Asia Pacific RFID Enabled Smart Cabinets Market Analysis and Forecast (2022 - 2027)
10.1 Introduction
10.2 Asia Pacific RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type
10.3 Asia Pacific RFID Enabled Smart Cabinets Market Size and Forecast, By End Use
10.4 Asia Pacific RFID Enabled Smart Cabinets Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Rest of Asia Pacific

11 Latin America RFID Enabled Smart Cabinets Market Analysis and Forecast (2022 - 2027)
11.1 Introduction
11.2 Latin America RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type
11.3 Latin America RFID Enabled Smart Cabinets Market Size and Forecast, By End Use
11.4 Latin America RFID Enabled Smart Cabinets Market Size and Forecast, By Country
11.4.1 Brazil
11.4.2 Rest of Latin America

12 Middle East RFID Enabled Smart Cabinets Market Analysis and Forecast (2022 - 2027)
12.1 Introduction
12.2 Middle East RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type
12.3 Middle East RFID Enabled Smart Cabinets Market Size and Forecast, By End Use
12.4 Middle East RFID Enabled Smart Cabinets Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.2 UAE
12.4.3 Egypt
12.4.4 Kuwait
12.4.5 South Africa

13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies

14 Company Profiles
14.1 Terson Solutions
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Solstice Medical
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 LogiTag
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 WaveMark
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 SATO Vicinity
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Skytron
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Mobile Aspects Inc.
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Invengo Technology
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Nexess
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies

Companies Mentioned

  • Terson Solutions
  • Solstice Medical
  • LogiTag
  • WaveMark
  • SATO Vicinity
  • Skytron
  • Mobile Aspects Inc.
  • Invengo Technology
  • Nexess.