Healthcare Industry RFID Smart Cabinets Market Trends, 2020 | Page 2

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In the U.K. and Germany, huge funds are injected into the healthcare sectors by both governmental
organizations and NGOs. Germany dominates the Europe RFID cabinets market owing to high R&D
investments in RFID applications. With focus on RFID technologies, the government of Germany had invested
around USD 260 million in the year 2007. Furthermore, the country declared that technological
developments fuel applications of RFID technologies not only in the healthcare sector but also in its
telecommunications industry. The need for effective inventory manage ment strategies and the prevention of
pilferage of assets & inventories can fuel the global industry during the forecast period.
Owing to surging demand from India and China, Asia Pacific is expected to be a rapidly growing region from
2012 to 2020. Furthermore, technological developments and improvements in healthcare infrastructure in
China and India could effectively contribute to regional progress. Execution of the 12 year plan in China may
lead manufacturers to invest robustly in the region. Favorable governmental regulations, the expanding
telecommunications sector, and widespread awareness among patients are factors that drive the RFID
industry in India. Proliferation of retail stores selling products with RFID tags can positively impact the overall
industry during the forecast period.
Prominent industry participants are Tagsys RFID Group; Stanley Innerspace; LogTag; Mobile Aspects Inc.; and
Terson Solutions Inc. among others. The global RFID smart cabinets market is a highly fragmented one with a
large pool of suppliers and a host of domestic manufacturers in China. Mergers and acquisitions are key
business expansion strategies adopted by several companies. In February 2016, Nordic ID launched the
Nordic ID AR52 area reader. It is a fixed reader that is equipped with sixteen external antenna ports. It is the
centre point for connecting the antennas that can be adjusted and controlled individually.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/medical-
devices-industry
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