Healthcare Industry RFID Smart Cabinets Market Trends, 2020

Your Catalyst To a Lucrative Business
RFID Smart Cabinets Market Analysis, Size, Share, Growth, Trends
and Forecast to 2020 | Hexa Research
“Increasing need for inventory management of
medicines in medical institutions is expected to drive
the RFID smart cabinets market over the forecast
period.”
The global RFID Smart Cabinets Market is expected to grow at a nearly 12% CAGR during the forecast period
(2012 to 2020). The industry is poised to reach around USD 785 million by 2020. In healthcare, RFID (radio-
frequency identification) is applied widely in equipment tracking and in record maintenance. Cost cutting
measures adopted by healthcare institutions for effective inventory management drive demand for RFID
smart cabinets. These cabinets are made of two components, namely, RFID console and a steel/aluminum
cabinet. The cabinet is used for maintaining databases, like identity of the person or department that
accessed it recently and the date of last usage. RFID console is an electronic part that helps keep a track on
cabinet supplies. Surging demand for RFID cabinets for inventory management and technological
advancements are expected to positively impact the global market throughout the forecast period.
The worldwide RFID Smart Cabinets Market is segmented into geographies, namely Latin America, North
America, Asia Pacific, Europe, and Rest of the World. Most healthcare institutions in North America have
begun using RFID cabinets for enhanced productivity and minimal errors . The region is propelled by huge
product demand from the U.S. Sophisticated healthcare infrastructure and steady technological
developments are two key factors that drive the North America market. This region may continue leading the
global industry till 2020.
Browse Details of Report @ https://www.hexaresearch.com/research-report/rfid-smart-cabinets-industry
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