San Francisco, Jan. 27, 2016 (GLOBE NEWSWIRE) -- Global RFID Kanban Systems Market is expected to reach USD 1.1 Billion by 2020. Increasing cases of stock outs, over inventory, clerical errors and growing demand for real time asset and inventory tracking are some factors expected to drive market growth over the next six years. Furthermore, high cost incurred due to medication expiration, increasing demand for FIFO system and the implementation of lean inventory management is expected to boost market growth over the forecast period.
North America held majority of the market in 2013, with revenue estimated at USD 97.5 million. Economic development, increasing demand for process optimization, rising awareness level amongst healthcare organizations pertaining to the benefits associated with RFID kanban systems are some major drivers of this market.
The presence of a large gap between the need for hospital inventory management and availability of real time inventory management solutions has resulted in high growth potential for the U.S. market. RFID based kanban systems have been incorporated by certain healthcare facilities. However, a large percentage of hospitals have yet to make this transition.
Browse Full Research Report With TOC On "RFID Kanban Systems Market Size, Report, 2020" at: http://www.radiantinsights.com/research/rfid-kanban-systems-market-analysis-by-region-north-america-u-s-canada-mexico-europe-belgium-poland-netherlands-spain-germany-uk-france-asia-pacific-china-india-japan-australia-brazil-argentina-chile-gcc-and-segment-forecasts-to-2020
Further key findings from the study suggest:
- The U.S. RFID kanban systems market was valued at USD 76.9 million in 2013. The incorporation of RFID kanban systems brings down the overall inventory ordering, shortage, carrying and purchase costs by as much as 30%. This cost reduction incentive acts as the most important driver for the RFID based kanban systems market in the region.
- The Japanese RFID kanban systems market is expected to grow at a CAGR of over 23.8% from 2014 to 2020. Owing to the fact that the kanban system was initially developed in Japan, there has been significant development since then in the country for the purpose of automating the two bin kanban system. There has been prototype deployment of RFID kanban systems in Japan and it is expected that there will be growing demand for further such implementation in the Japanese hospitals to further improve healthcare services.
- Some key market players of RFID Kanban systems include Brooks Automation, Grifols, Hurst Green Plastics Ltd., Wurth Group, Bollhoff Group, Pepperl+Fuchs, Datelka, Metra Tec GmbH, Logi-Tag and Mattteo
- In order to develop cost effective and technologically advanced products, manufacturers in the market are involved in rigorous R&D. For Instance, LogiTag released a new mobile app for hospital inventory management and charge capture.
Browse All Reports of This Category at: www.radiantinsights.com/catalog/medical-devices
RFID Kanban Systems Regional Outlook (Revenue, USD Million, 2012 - 2020)
- North America
- S.
- Canada
- Mexico
- Europe
- Belgium
- Poland
- Netherlands
- Spain
- Germany
- UK
- France
- Asia
- China
- India
- Japan
- Australia
- RoW
- Brazil
- Argentina
- Chile
- GCC
Related Reports by Radiant Insights:
- Telecom Cable Market –
http://www.radiantinsights.com/research/global-telecom-cable-market-2014-2018
- Sweetener Market –
http://www.radiantinsights.com/research/global-sweetener-market-2014-2018
About Radiant Insights
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
Contact Details:
Michelle Thoras
Corporate Sales Specialist, USA
Radiant Insights, Inc
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
Email: sales@radiantinsights.com