The market size of RFID smart cabinets will reach RMB 6.82 billion by 2022

2020 Global RFID Smart Cabinet Market Trends, Growth and Forecast Report. The report pointed out that by 2022, the global RFID smart cabinet market revenue is expected to reach 6.82 billion yuan, with a compound annual growth rate of 12.6% from 2016 to 2022.

RFID smart Tool management cabinet

The need for medical institutions to reduce costs by adopting effective inventory management solutions is expected to be a major driving force for the development of RFID smart cabinets. The report also observes that the enactment of government regulations for effective inventory management of medical supplies in healthcare institutions coupled with the current low market penetration of RFID technology in these institutions is expected to drive RFID smart cabinets over the next 6 years The rapid growth of market demand.

Increasing adoption of healthcare information technology and entry of private healthcare institutions into emerging markets such as India, China, Brazil, and Argentina are also expected to drive the growth of the RFID smart cabinet market over the next six years. The implementation of medical reforms such as the "Twelfth Five-Year Plan" in China aims to provide better medical services to all citizens through strengthening medical infrastructure and other regulatory measures, which is crucial to the development of the RFID smart cabinet market in the next six years.

The study also showed:

The Asia Pacific and Latin America RFID smart cabinet markets are expected to be the two fastest growing regional markets, with an estimated CAGR of 14.1% and 13.0%, respectively, from 2016 to 2022. The rapid adoption of RFID technology among medical institutions is the most important factor contributing to the high growth rates in these regions.

RFID medical consumable cabinet

North America dominated the global RFID smart cabinet demand in 2015 due to high usage of these cabinets in the United States. The North American RFID smart cabinet market was USD 276.4 million. In the U.S. market, the United States dominated the market with a revenue share of over 80% , the RFID smart cabinet market is dominated by players competing on the basis of technology and price.

RFID smart medicine cabinet

In contrast, in China, RFID technology is still developing at a rapid pace, and the market for RFID smart cabinets has just begun and is far from market saturation. A large number of RFID technology hardware manufacturers and software solution providers have emerged in China. They combine the latest RFID technology with actual application needs and can customize smart cabinets for various purposes, such as: smart cabinets for surgical clothing management, Hospital valuable medicine management cabinets, police special equipment IoT intelligent management cabinets, railway inspection and maintenance tool management cabinets, aviation tool management cabinets, automatic commodity vending cabinets, bank Asset MANAGEMENT cabinets, etc. Their various forms can meet various uses in production and life. In the future, we will also focus on the development and application of RFID technology and introduce more RFID hardware and software products to the market.