Electronic article surveillance is a technological method for preventing shoplifting from retail stores, pilferage of books from libraries or removal of properties from office buildings. Special tags are fixed to merchandise or books.
RFID labels are highly preferred to maintain the synchronized supply chain management and inventory management systems in the organization. Due to the traceability property of RFID labels, they are used in a variety of end-use industries such as automotive, retail, healthcare, manufacturing, and FMCG. Combined with an asset tracking software program, RFID labels are the foundation for a synchronize process of repairs, maintenance, and inventory control for enterprises. In addition, RFID labels are very crucial label types when it comes to maintaining the true authenticity of products.
Electronic Shelf Label, also known by the acronym ESL. It is the latest solution for inventory and price management in the retail sector, based on the use of advanced IT technology. ESL replaces conventional paper price tags attached to the shelves of supermarkets and department stores with, for example, LCDs and electronic paper (E-paper) that show information on product price, sales promotions, etc.
The Smart Labels industry was 5,052 million USD in 2017 and is projected to reach 16,590 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of 16.0% between 2017 and 2025. The market is driven by various end-user industries, such as automotive, healthcare & pharmaceutical, logistic, retail, manufacturing, etc. as the downstream consumption usually follows with developed and rapid economic growth areas, such as BRICS, the developed areas’ company prefers investing to underdevelopment regions these years.
The key players are Checkpoint Systems (CCL), Avery Dennison, Sato Holdings Corporation, Tyco Sensormatic, Smartrac, SES (imagotag), Zebra, Fujitsu, Honeywell, TAG Company, Paragon ID, Century, Pricer, Alien Technology, Invengo Information Technology, Multi-Color Corporation, Samsung, E Ink, Displaydata and so on.
Increase in demand for effective anti-theft devices, owing to security concern of the enterprises contribute to the significant rise in the demand for the global smart labels industry.
The global smart labels market has witnessed an increase in adoption in the packaging industry, owing to the ability to provide a detailed information to the customers about products with the use of digital technology and smart devices. In addition, increase in demand for global smart labels market is driven by its ability to provide real-time visibility of the product and rise in demand for effective anti-theft devices, owing to security concerns. Moreover, significant rise in consolidated industries and technological advancements associated with the use in various applications, such as healthcare, & pharmaceuticals, logistics, retail inventory, food & beverages, and others, have further boosted the growth of global smart labels market.
The Smart Labels market is characterized by the presence of many vendors. These vendors are increasingly competing against each other based on factors such as access to raw materials, economies of scales, product innovations, and ability to recycle as the cost of raw materials is very high. Vendors in Smart Labels market are focusing on gaining faster access to the raw materials and lowering the manufacturing costs of Smart Labels. They are also focusing on customization of products as per end-user industries.
Smart Labels has gained increase in traction in the packaging industry, owing to growth in the demand for product information through smart devices. These labels acts as an innovative transparent label associated with digital technology and smart devices that enable consumers to access a detailed information about their products. The growth in global smart labels industry is expected to enable consumers to gain enhanced information visibility on the purchased products.
The low labor costs, excellent industrialization, a huge scope for FDI, emerging economic conditions, and an excellent hold on industries such as automotive, retail, manufacturing, construction, and healthcare have played a key role in the growth of the market for smart labels in the Asia-Pacific region.
Rapid industrialization has led to increased disposable income and is a major factor for the growth of the Smart Labels market in Asia Pacific, especially in China. A critical factor for growth in China is availability of raw materials at lower prices coupled with the presence of large number of suppliers and producers. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, imports & exports, consumer consumption and capital investment for over two decades.
The Global Smart Labels Market Research Report 2018 report released by QYResearch provides a basic overview of the Smart Labels industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures.
The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the Smart Labels industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.
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