Pune, Maharashtra -- (SBWIRE) -- 08/17/2020 -- Latest published report on the RFID Enabled Smart Cabinets market, found on the Qualiket Research website revealed a great deal about various market dynamics. These driving factors influence the market from a very miniscule level to its holistic standard and can traverse limitations to assist the market achieve a significant growth rate over the analysis period of 2020-2027. The report is based on an extensive study supervised by adept analysts. Their sound knowledge and expertise in the field help in unearthing of factors and figures. The report is fulfilled with a volume-wise and value-wise analysis.

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RFID enabled smart cabinets provide an advanced solution for handling consignment stock and high value medical devices. RFID enabled smart cabinets are able to 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 relies 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, orthopedics, 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.

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

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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

Major Points Covered in Table of Content
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global RFID Enabled Smart Cabinets Market Outlook
5 Global RFID Enabled Smart Cabinets Market, By Deployment Type
6 Global RFID Enabled Smart Cabinets Market, By End Use
7 Global RFID Enabled Smart Cabinets Market, By Region
8 North America RFID Enabled Smart Cabinets Market Analysis and Forecast (2020 – 2027)
9 Europe RFID Enabled Smart Cabinets Market Analysis and Forecast (2020 – 2027)
10 Asia Pacific RFID Enabled Smart Cabinets Market Analysis and Forecast (2020 – 2027)
11 Latin America RFID Enabled Smart Cabinets Market Analysis and Forecast (2020 – 2027)
12 Middle East RFID Enabled Smart Cabinets Market Analysis and Forecast (2020 – 2027)
13 Competitive Analysis
14 Company Profiles

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