Smart Label Market is Presumed to Reach USD 19.50 Billion by end of 2027
Smart Label Market is Presumed to Reach USD 19.50 Billion by end of 2027
The Global Smart Label Market is escalating at a healthy CAGR of 13.1% and is presumed to reach USD 19.50 billion by end of 2027.
Smart label is referred to as the flat responsive device or identification slip used for providing in depth product data in digital format. Smart labels are alternatively known as electronic labels, intelligent labels, and smart tags. It includes radio frequency identification, electronic article surveillance, QR code and other tags, which helps in delivering product related information. The smart label can also be used for monitoring temperature and quality of the product, which provides consumer safety. Smart label offers an advantage of tracking the product right from the warehouse throughout product shipping. Due to this, it is extensively used in transportation, food & beverage, healthcare, and many other end-use industries.
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SMART LABEL MARKET: Drivers & CHALLENGES
Growing Demand from Packaging Industry
The packaging industry is witnessing transformation at a rapid pace owing to changing consumer preference towards safer, healthier and affordable options. Expanding retail channel, increasing preference towards the processed and packaged food products, higher demand convenience packaging solution is driving the packaging industry. Increasing awareness regarding product labelling to avail higher product benefits is shifting consumers’ interest towards demand for smart labels. Advantages associated with the smart labels such as high tolerance under extreme conditions, lack of human intervention, accurate product data, real time tracking, eliminate the need of relabeling products and among many others, is further fueling its demand across packaging industry.
Increasing adoption in IoT in Transportation
Transportation industry acts as backbone of country’s economy and is growing on the grounds of increasing global trades despite of the headwinds of the trade wars, higher oil imports costs, and increasing economic uncertainty. Rising demand for inventory management through efficient, accurate, and timely operations is driving the demand for IoT based devices. The increasing adoption of IoT in the transportation sector owing to increase spending in public infrastructure construction with increasing adoption of internet for more efficient product transport, asset management, higher security while transportation.
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Higher Penetration of Conventional Label
The growth of the smart label market is projected to get impacted owing to higher popularity and penetration of the conventional labelling. Low awareness regarding the advantages of the smart label coupled with the higher cost associated with the smart labels is dampening the market growth.
Smart label market: Key Segments
- On the basis of technology, the market is segmented into Radio Frequency Identification (RFID), Near-field Communication (NFC), Electronic Article Surveillance (EAS) and Others.
- On the basis of printing, the market is segmented into Thermal Printing, Inkjet Printing, Flexographic Printing, Digital Printing and Others.
- On the basis of Application, the market is segmented into: Food & Beverage, Healthcare, Automotive, Logistics and Transport and Others.
- On the basis of Geography, the market is segmented into: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Smart label MARKET: Report Scope
The report on the smart label market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
List of the leading companies operating in the Smart Label Market include:
- UPM (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- CCL Industries
- ASK SA
- Intermec Inc.
- Honeywell International Inc
- Smartrac N.V.
- Sato Holdings Corporation
- Zebra Technologies Corp
- GLI, LLC
- Other Key Companies
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Smart label MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Smart Label Market, by Technology
Radio Frequency Identification (RFID)
- Active RFID
- Passive RFID
- Semi-passive RFID
Near-field Communication (NFC)
Electronic Article Surveillance (EAS)
- Radio Frequency (RF),
- Acousto-Magnetic (AM)
- Electromagnetic (EM)
Smart Label Market, by Printing
- Thermal Printing
- Inkjet Printing
- Flexographic Printing
- Digital Printing
Smart Label Market, by Application
- Food & Beverage
- Logistics and Transport
Smart Label Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
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About Forencis Research
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