|By Business Wire||
|September 1, 2014 07:38 AM EDT||
Research and Markets (http://www.researchandmarkets.com/research/px76sf/global_rfid_smart) has announced the addition of the "Global RFID Smart Cabinet Market 2014-2018" report to their offering.
The Global RFID Smart Cabinet market to grow at a CAGR of 11.8% over the period 2013-2018.
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.
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.
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.
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.
- Increased Need for Inventory Management in Hospitals
- Intense Competitive Environment
Increased Awareness of RFID Technology
- Mobile Aspects
- TAGSYS RFID Group
Other Prominent Vendors
- Solstice Medical
- Stanley InnerSpace
- Terso Solutions
For more information visit http://www.researchandmarkets.com/research/px76sf/global_rfid_smart