Anticipated to reach a robust US$ 1.6 Billion in 2022, the RFID Kanban System market is projected to undergo a stellar Compound Annual Growth Rate (CAGR) of 18.1% from 2022 to 2032, ultimately reaching an impressive US$ 8.4 Billion.
A cornerstone of the market’s appeal has been the inherent mobility offered by RFID technology, a compelling factor driving its adoption. Looking forward, the landscape is set to experience a transformative shift as cloud-based data storage seamlessly integrates with RFID systems. This synergy is expected to amplify the benefits offered, unveiling a realm of possibilities.
With data stored in the cloud, real-time access becomes a reality, amplifying stock accuracy, replenishment processes, and product availability. Notably, the integration of cloud services is poised to catalyze productivity and precision throughout the expansive supply chain, resulting in heightened efficiency for vital stakeholders, including warehouse personnel and IT experts.
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Key Takeaways:
● Growing demand for restocking of products the demand for RFID box segment to grow at a CAGR of 17.5% during the forecast period
● The U.S. market is expected to reach US$ 3 Billion by 2032, growing at a CAGR of 17.9% by the forecast period.
● Growing demand for automation businesses in China are expected to grow at a CAGR of 17.4% from 2022-2032.
● Multi-Bin RFID Kanban Systems is expected to grow at a CAGR of 17.9% during the forecast period.
● A growing demand for inventory management of drugs in Japan is projected to drive market growth at a CAGR of 16.2% during the forecast period.
RFID Kanban Systems: Competitive Landscape
New technologies and increasing technological innovations in the market will benefit manufacturers. Strategic partnerships can allow a company to expand its operational capabilities. Business expansion can be made smarter and more dynamic to reduce security breaches and power outages.
● In December 2021, InvoTech Systems, Inc., a leader in trusted identity solutions, was acquired by HID Global, a worldwide provider of trusted identity solutions. As a result of the acquisition, HID Global’s RFID portfolio grows even further to provide a comprehensive range of advanced textile inventory management solutions for uniforms, linens, and laundry operations.
● In April 2022, Chipotle Mexican Grill is going to test radio-frequency identification (RFID) technology in nearly 200 of their restaurants and distribution center in Chicago. This test has been developed in collaboration with the RFID Lab at Auburn University. In order to enhance inventory and traceability, the company plans to utilize the technology. With this new technology, Chipotle will be able to respond quickly to concerns about food safety and quality.
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Key Segments Covered In The RFID Kanban Systems Market Report
RFID Kanban Systems Market by Type:
- Single Bin RFID Kanban Systems
- Multi-Bin RFID Kanban Systems
RFID Kanban Systems Market by Component:
- RFID Kanban Systems Box
- RFID Kanban Systems Base
- RFID Kanban Systems Shelf/Cabinet
- RFID Kanban Systems Electronic Shelf Displays
- Other RFID Kanban System Components
RFID Kanban Systems Market by Application:
- RFID Kanban Systems for Supply Chain Inventory Management
- RFID Kanban Systems for Equipment Identification
- RFID Kanban Systems for Track and Trace Solutions
- RFID Kanban Systems for Other Applications
RFID Kanban Systems Market by Data Center Type:
- RFID Kanban Systems for Enterprise Data Centers
- RFID Kanban Systems for Managed Data Centers
- RFID Kanban Systems for Colocation Data Centers
- RFID Kanban Systems for Cloud and Edge Data Centers
RFID Kanban Systems Market by Vertical:
- RFID Kanban Systems for BFSI
- RFID Kanban Systems for Government and Public Sector
- RFID Kanban Systems for IT and ITeS
- RFID Kanban Systems for Manufacturing
- RFID Kanban Systems for Healthcare and Life Science
- RFID Kanban Systems for Telecommunications
RFID Kanban Systems Market by Region:
- North America RFID Kanban Systems Market
- Europe RFID Kanban Systems Market
- Asia Pacific RFID Kanban Systems Market
- Middle East and Africa RFID Kanban Systems Market
- Latin America RFID Kanban Systems Market
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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