RFID Kanban Systems Market Size Worth $1.1 Billion By 2020

RFID Kanban Systems Market Growth & Trends

The global RFID kanban systems market is expected to reach USD 1.1 Billion by 2020, according to a new study by Grand View Research, Inc. 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 the FIFO system, and the implementation of lean inventory management is expected to boost market growth over the forecast period.

North America held the 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 the 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.

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RFID Kanban Systems Market Report Highlights

• 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 have 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.

RFID Kanban Systems Market Segmentation

Grand View Research has segmented the global RFID Kanban systems market on the basis of region:

RFID Kanban Systems Regional Outlook (Revenue, USD Million, 2012 - 2020)

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • Belgium

  • Poland

  • Netherlands

  • Spain

  • Germany

  • The U.K.

  • France

• Asia

  • China

  • India

  • Japan

  • Australia

• RoW

  • Brazil

  • Argentina

  • Chile

  • GCC