Global RFID Enabled Smart Cabinets Market Size, Trends & Growth Opportunity, By Deployment Type (On Premise, and Cloud), By End Use (Hospitals, Clinic, Bio-Pharmaceutical Companies, and Others), By Region and Forecast till 2027
Global RFID Enabled Smart Cabinets Market
Global RFID Enabled Smart Cabinets Market was valued at USD 987.15 million in 2022 and is slated to reach at USD 1799.27 million by 2027 at a CAGR of 11.29% from 2022-2027.

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.
Impact of COVID-19
The market growth rate for radio-frequency identification (RFID) smart cabinets is positively impacted by COVID-19. In this pandemic era, there is a significant need for medical equipment and supplies. This necessitates effective and efficient inventory management solutions, which are in turn driving up demand for RFID-enabled smart cabinets.

Recent Development
IntelliGuard announced the release of its next-generation "Vendor Managed Inventory" system in September 2020, which includes internet of things capabilities as well as a turn-key solution for medicine inventory distribution.
Market Segmentation
Global RFID Enabled Smart Cabinets Market is segmented into deployment type such as On-Premise, and Cloud. Further, market is segmented into end use such as Hospitals, Clinic, Bio-Pharmaceutical Companies, and Others.
Also, Global RFID Enabled Smart Cabinets Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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
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
Key Questions Addressed by the Report
• What are the Key Opportunities in Global RFID Enabled Smart Cabinets Market?
• What will be the growth rate from 2022 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?

Global RFID Enabled Smart Cabinets Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global RFID Enabled Smart Cabinets Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global RFID Enabled Smart Cabinets Market, By Deployment Type
5.1 Y-o-Y Growth Comparison, By Deployment Type 
5.2 Global RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type 
5.3 Global RFID Enabled Smart Cabinets Market Size and Forecast, By Deployment Type
5.3.1 On-Premise
5.3.2 Cloud
6 Global RFID Enabled Smart Cabinets Market, By End Use
6.1 Y-o-Y Growth Comparison, By End Use
6.2 Global RFID Enabled Smart Cabinets Market Share Analysis, By End Use
6.3 Global RFID Enabled Smart Cabinets Market Size and Forecast, By End Use
6.3.1 Hospitals
6.3.2 Clinics
6.3.3 Bio-Pharmaceutical Companies
6.3.4 Others
7Global RFID Enabled Smart Cabinets Market, By Region
7.1 Global RFID Enabled Smart Cabinets Market Share Analysis, By Region
7.2 Global RFID Enabled Smart Cabinets Market Share Analysis, By Region
7.3 Global RFID Enabled Smart Cabinets Market Size and Forecast, By Region
8North America RFID Enabled Smart Cabinets Market Analysis and Forecast (2022 – 2027)
8.1 Introduction
8.2 North America RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type
8.3 North America RFID Enabled Smart Cabinets Market Size and Forecast, By End Use
8.4 North America RFID Enabled Smart Cabinets Market Size and Forecast, By Country
8.4.1 U.S
8.4.2 Canada
8.4.3 Mexico
9Europe RFID Enabled Smart Cabinets Market Analysis and Forecast (2022 – 2027)
9.1 Introduction
9.2 Europe RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type 
9.3 Europe RFID Enabled Smart Cabinets Market Size and Forecast, By End Use 
9.4 Europe RFID Enabled Smart Cabinets Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4. Rest of Europe
10Asia Pacific RFID Enabled Smart Cabinets Market Analysis and Forecast (2022 – 2027)
10.1 Introduction
10.2 Asia Pacific RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type 
10.3 Asia Pacific RFID Enabled Smart Cabinets Market Size and Forecast, By End Use 
10.4 Asia Pacific RFID Enabled Smart Cabinets Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific
11Latin America RFID Enabled Smart Cabinets Market Analysis and Forecast (2022 – 2027)
11.1 Introduction
11.2 Latin America RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type 
11.3 Latin America RFID Enabled Smart Cabinets Market Size and Forecast, By End Use 
11.4 Latin America RFID Enabled Smart Cabinets Market Size and Forecast, By Country
12Middle East RFID Enabled Smart Cabinets Market Analysis and Forecast (2022 – 2027)
12.1 Introduction
12.2 Middle East RFID Enabled Smart Cabinets Market Share Analysis, By Deployment Type 
12.3 Middle East RFID Enabled Smart Cabinets Market Size and Forecast, By End Use 
12.4 Middle East RFID Enabled Smart Cabinets Market Size and Forecast, By Country
13Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
15.1 Terson Solutions
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Solstice Medical
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 LogiTag
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 WaveMark
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 SATO Vicinity 
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Skytron
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Mobile Aspects Inc
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Invengo Technology
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Nexess
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies

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