The latest report by IMARC Group, titled “Smart Labels Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global smart labels market size witnessed strong growth during 2015-2020. Smart labels are responsive electronic devices that are embedded in various products to offer enhanced functionality. These labels enable consumers to access detailed information about the ingredients, manufacturer, and manufacturing date of purchased products. In addition, smart labels are configured with a chip, antenna, and bonded wires that minimize human errors by providing real-time location tracking, automated reading, better traceability, rapid identification, and re-programmability for numerous items.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Smart Labels Market Trends:
The market is primarily driven by the significant growth in the packaging and e-commerce industries. Smart labels are used to provide detailed information regarding the packages with the help of digital technology and smart devices. They also provide real-time visibility and are useful in eliminating or lowering the number of theft and shoplifting incidents, which are propelling the demand for smart labels. In addition to this, technological advancements, such as the introduction of Big Data, the Internet of Things (IoT) and digital printing, have enabled several leading companies to create sensors printed on smart labels at a lower cost than silicon sensors. Besides this, the growing awareness regarding consumer rights and the growing penetration of smartphone applications are also fueling the market growth. Furthermore, governments in various countries are imposing strict measures to disclose product information to the public by necessitating the incorporation of smart labels in products. Looking forward, the market is expected to grow at a CAGR of around 14% during the forecast period (2021-2026).
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Avery Dennison Corporation
- CCL Industries Inc
- Checkpoints Systems, Inc
- Zebra Technologies Corporation
- Intermec, Inc.
- Invengo Information Technology Co Ltd
- Sato Holdings Corporation
- Thin Film Electronics ASA
- Smartrac N.V.
- Muehlbauer Holding AG
Smart Labels Market Segmentation:
Our report has categorized the market based on region, type, component type and end use industry.
Breakup by Type:
- RFID
- Electronic Article Surveillance
- Electronic Shelf Label
- Sensing Label
- Near Field Communication
Breakup by Component Type:
- Batteries
- Transceivers
- Microprocessors
- Memories
- Others
Breakup by End-user:
- Retail
- Logistics and Transportation
- Healthcare
- Food and Beverage
- Aerospace
- Data Centers
- Libraries
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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