Further Key findings from the study suggest:
Asia Pacific and the Latin American RFID smart cabinets market are expected to be two of the fastest growing regional markets during the forecast period, at an estimated CAGR of 13.3% and 12.5% from 2014 to 2020, respectively. Rapid rise in RFID technology adoption by healthcare institutions induced by recent economic developments is the most important factor responsible for such high growth rates in these regions.
North America dominated the global RFID smart cabinet demand in 2013, on account of the high usage rates of these cabinets in the U.S. The North America RFID smart cabinets market was estimated at USD 193.6 million in 2013, and was dominated by the U.S. in terms of revenue share at over 80%.