RFID Smart Cabinet Market

Introduction

An increasing level of importance placed on asset management by organizations across various industries is the key factor contributing to the growth of global RFID smart cabinet market. RFID Smart Cabinet is a RFID technology-based storage module equipped to track assets and provides control over the cabinet contents. These smart cabinets are equipped with RFID system which enables real-time, item-level tracking at an intermediate or even at the final distribution point. These systems are equipped with alarm system and access control for security and TCP/IP interface to connect with an IT network to provide access to the cabinet and its content remotely. These RFID smart cabinets enable product accountability along with efficient control over the cabinet contents. For example, user can remotely evaluate stocks and identify duplicated products or expired products.

Key Applications of RFID Smart Cabinet

  • Pharmacy – Medicine Tracking and Stock evaluation
  • Hospitals – Medical Equipment Tracking and Control
  • Manufacturing/ service facilities – Equipment, /Tools, /Materials Tracking and Control

Market Dynamics

Radio Frequency Identification (RFID) system is becoming a preferred choice of technology for different use-cases across various industries, because of its ability to transmit larger amounts of information compared to prior technologies like barcodes and has the functionality to read/write information about assets allowing the use of interactive applications. RFID Smart cabinets reduce the manual labour involved in inventory tracking, managing supply, and reduces administrative tasks, as each item stored in the cabinet are equipped with RFID enabled product tag to create an endpoint. The traditional cabinet management processes are highly fallible, as it has poor visibility and lacks control over the cabinet contents, and hence, the demand for smart cabinets integrated with RFID technology is increasing across industry verticals including, healthcare and factory environment. Further, the increasing focus on automating inventory management for high-value medical devices as well as consignment stock in hospital environment coupled with stringent compliance requirements for asset management in healthcare is accelerating the growth of global RFID smart cabinet market.

Competitive Landscape

Some of the key players present in the global RFID smart cabinet market includes  JA Security & Innovations,  Terso Solutions, Palex Medical, NEXESS, SimplyRFiD, Southwest Solutions Group, Grifols, S.A., Logi-Tag Systems, SATO VICINITY PTY LTD, and GAO RFID Inc.

– Delsingh Bright,
Market Research Analyst
Infoholic Research