According to the Global RFID Readers Market 2016-2020 report, real-time tracking of goods through the supply chain with RFID helps improve customer service as purchasers can track their orders via the Internet.
RFID readers play a critical role in inventory management and demand is high from retailers and supermarkets. The increasing incorporation of RFID readers in healthcare, retail and transportation is expected to result in growth rates of more than 21% by 2020. The market research analyst estimates that the retail segment will continue to dominate (58% share) in 2020, fuelled by the need to improve inefficiencies in the supply chain.
Potential obstacles to adoption include resistance to change as RFID support means overhauling the existing system, and high costs.
Key players mentioned in the report include Alien Technology, Honeywell, Impinj and Zebra Technologies. Other vendors include Applied Wireless Identification Group, ThingMagic, Datalogic, RF Ideas, TSL, CAEN RFID, Cipher Lab, Fieg Electronics, Unitech, GAO RFID, and Mojix.
In a separate report, Technavio estimates the global real time location systems (RTLS) market in healthcare to generate revenues of US$1.5 billion between 2016 and 2019, with a CAGR of 54% through to 2020. RTLS solutions, enabled by RFID tags, provide a high degree of intelligence in locating assets, which leads to process improvement and faster decision making, the company said.
“A large number of hospitals are deploying RTLS tags to enhance (their) operations and increase profitability, which is one major driver contributing to the growth of the market. RFID tags provide a wide variety of applications such as asset management, for quickly locating equipment such as hospital beds, wheelchairs, ventilators, oxygen cylinders, and infusion pumps. Also, they make use of RTLS tags for monitoring of sensitive equipment, violent patients, and hospital staff,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
The asset monitoring segment dominates the global RTLS market in the healthcare industry, and this segment will continue to lead the market till 2020. The growth of the asset monitoring segment is largely attributed to the increasing deployment of RTLS solutions and increasing penetration of Wi-Fi in hospitals.
The key vendors in the global RTLS market in healthcare industry are AeroScout, Ekahau, HP, and Zebra Technologies. The present competitive environment of the RTLS market in the healthcare industry is expected to intensify following an increase in R&D as well as mergers and acquisitions during the forecast period. The market is also likely to witness territorial acquisitions by leading global players. Key players are additionally expected to diversify geographically with a focus on the Asia Pacific region during the forecast period.
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In a separate report, Technavio estimates the global real time location systems (RTLS) market in healthcare to generate revenues of US$1.5 billion between 2016 and 2019, with a CAGR of 54% through to 2020. RTLS solutions, enabled by RFID tags, provide a high degree of intelligence in locating assets, which leads to process improvement and faster decision making, the company said.
“A large number of hospitals are deploying RTLS tags to enhance (their) operations and increase profitability, which is one major driver contributing to the growth of the market. RFID tags provide a wide variety of applications such as asset management, for quickly locating equipment such as hospital beds, wheelchairs, ventilators, oxygen cylinders, and infusion pumps. Also, they make use of RTLS tags for monitoring of sensitive equipment, violent patients, and hospital staff,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
The asset monitoring segment dominates the global RTLS market in the healthcare industry, and this segment will continue to lead the market till 2020. The growth of the asset monitoring segment is largely attributed to the increasing deployment of RTLS solutions and increasing penetration of Wi-Fi in hospitals.
The key vendors in the global RTLS market in healthcare industry are AeroScout, Ekahau, HP, and Zebra Technologies. The present competitive environment of the RTLS market in the healthcare industry is expected to intensify following an increase in R&D as well as mergers and acquisitions during the forecast period. The market is also likely to witness territorial acquisitions by leading global players. Key players are additionally expected to diversify geographically with a focus on the Asia Pacific region during the forecast period.
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