The most recent study conducted by Report Ocean, titled “Global RFID Kanban System Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the RFID Kanban System. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global RFID Kanban System Market is valued approximately USD $ million in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028. The RFID Kanban System can be defined as firmly established system utilized for managing the replenishment of production material across different industries such as manufacturing, healthcare, and BFSI among others. In RFID kanban system-colored cards are exchanged with RFID (radio frequency identification) enabled tags which automatically send a signal with the help of software, which is integrated with the organization’s procurement department regarding inventory status.
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The increasing spending on digital transformation (DX) technologies and rising third-party logistics (3PL) industry worldwide as well as recent strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to Statista – In 2022, the worldwide spending on digital transformation (DX) is estimated at USD 1800 billion and the spending is projected to grow to USD 2800 billion by 2028. Furthermore, leading market players are working towards new acquisitions to increase their geographical footprints. For instance, in January 2022, Texas, US based Retail RFID (radio-frequency identification) technology and solutions provider SML acquired Sweden-based retail customer experience platform provider, Sumzed AB.
Sumzed AB specializes in non-RFID and RFID solutions, including price checker, point of information, fitting room support, call for assistance and digital signage. This acquisition would enable SML to expand its market presence in Northern Europe. Also, growing penetration of e-commerce platforms coupled with rising automation across different industries are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, security concern associated with cyber-attacks impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global RFID Kanban System Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing automation across different industries and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of 3PL logistics sector and rising automotive sector in the region, would create lucrative growth prospects for the global RFID Kanban System Market across the Asia Pacific region.
Major market players included in this report are:
Brooks Automation Inc.
Datelka
Grifols S A
Hurst Green Plastics Ltd
LogiTag Systems
MATTTEO
MetraTec GmbH
Palex Medical SA (Bidco Palex S.L.)
Pepperl+Fuchs SE
Scan Modul B.V.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Single Bin RFID Kanban System
Multi-Bin RFID Kanban System
By Component
RFID Box
RFID Base
RFID Shelf/Cabinet
Electronic Shelf Displays
Others
By Application:
Supply Chain Inventory Management
Equipment Identification
Track and Trace Solution
Others
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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