Accelerated Growth of the Surgical Instrument Tracking Market
According to a report by Grand View Research, the global surgical instrument tracking systems market is expected to reach USD 442.9 million by 2025. The Surgical Instrument Tracking Market has experienced exponential growth rates in recent years, driven by the impact of the UDI regulation and rising need for inventory management. There has been an increasing adoption of medical devices and instrument tracking products by private and public hospitals as they have to deal with a hosts of challenges such as vast inventory management and tracing of instruments and medical devices during surgical operations.
Re-shaping the industry through IoT-empowered Digital Transformation
“Digital Transformation” is the latest tech-related buzzword to take storm in the industrial sector. The increasing prominence of IoT in recent years has given companies the bandwidth to reshape their operational processes and undertake digital transformation. As the movement towards Industry 4.0 goes into full swing, digital transformation is at the forefront of that wave, empowering companies with IoT capabilities to re-think existing industrial processes.
Rethinking Supply Chain Management in a fast-changing digital world
The 4th industrial revolution is making its imprint on industries and manufacturers as more companies begin to adopt IoT technology. With companies digitizing their operational processes, automated inventory management will become more prominent. It will disrupt existing operational processes, requiring companies to rethink the concept of what supply chain mangement means.
Industrial IoT technology powering the future of the smart factory
Manufacturers are increasingly turning to industrial IoT technology to improve factory efficiency and prevent machine failures. Recent trends such as the proliferation of data-powered capabilities and the convergence of the digital and physical worlds have made the transformation of the supply chain increasingly possible. As industries move towards Industry 4.0, the idea of a smart factory is becoming increasingly conceivable where manufacturing is powered by IoT.
An upward trajectory of Asset Management across industries
We are in exciting times for the development of RFID asset management solutions. RFID Asset Tracking has been trending in many industries, as companies are looking to adopt predictive maintenance capabilities to manage their assets. As RFID tag costs are decreasing and RFID tags are becoming more customisable, they become more accessible to companies who wish to utilise RFID technology to manage their assets. 30 years ago, it was only restricted to the large institutions. Currently, there is a lot of potential for the future of RFID Asset Tags. RFID Asset Tag Management cuts down on the inaccuracies of manual recording, allowing companies to save costs. As the “Next Big Thing”, here are some trends to show that RFID Asset Management is becoming increasingly prominent in the industrial scene.