According to this report, the global smart labels market is expected to be valued at US$ 16.6 Bn by the end of 2025, with a healthy CAGR of 16.0% over the predicted period. The global smart labels market is gaining lucrative opportunities due to rising security concerns. With the rapid growth of manufacturing and retail sector, the growth for the smart labels market has raised up in asset tracking & merchandising.
Global Smart Labels Market: Drivers and Restraints
Increasing demand for smart labels market is mainly driven by the rising demand for anti-theft devices due to security concerns and its ability to provide a real-time view of the product. Main factors such as detailed information and simultaneous identification, real-time location tracking, and re-programmability are likely to influence the growth for the worldwide market for smart labels in various end use industries. Growing adoption of smart labels in the packaging industry, and the use of smart devices and digital technology is likely to boost the growth of the global smart labels market across the globe. Rising disposable income along with growing urbanization in the emerging economies is creating a robust growth of the market. However, the lack of uniformity in standards and mechanical susceptibility are the main challenges the market has to face during the projected period.
Global Smart labels Market: Segmental Analysis
On the basis of segmental analysis, the global market for smart labels is segmented into applications and type. The applications segment is further sub-segmented into Manufacturing, Automotive, Retail, Healthcare & Pharmaceutical, and Logistic. Smart labels are mainly used in the pharmaceutical industries to monitor the shelf life along with threshold detection.
Based on product type, the market is segmented into NFC Tags, EAS Labels, Electronic Shelf Labels, RFID Labels, and Sensing Labels. Sensing labels are used to track and record the changes in environmental, temperature, and oxygen.
Global Smart Labels Market: Regional Analysis
Based on the geographical analysis, Asia Pacific is anticipated to show lucrative growth opportunities during the projected period. North America is also expected to grow at a significant rate due to high adoption of technologies in the retail and manufacturing sectors. Europe is growing at a remarkable rate during the predicted period.
Global Smart Labels Market: Competitive Landscape
Leading players operating into the global market for smart labels include Display data, Checkpoint Systems (CCL), E Ink, Avery Dennison, Samsung, Sato Holdings Corporation, Multi-Color Corporation, Tyco Sensormatic, Invengo Information Technology, Smartrac, Alien Technology, SES (imagotag), Pricer, Zebra, Century, Fujitsu, Paragon ID, Honeywell, and TAG Company.
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