The global smart labels market is valued at around US$ 9.5 Billion in 2022, registering Y-o-Y growth of 9.6%. Sales of smart labels are projected to increase at a healthy CAGR of 11.2% and attain a valuation of US$ 24.8 Billion by 2030.
The Global Smart Labels Market Study has assessed the market’s potential for future growth and offers information and helpful statistics on the market’s structure and size. In order to assist decision-makers in making wise financial decisions and spotting potential gaps and growth possibilities, the study is designed to offer market intelligence and strategic insights. The study also identifies and assesses key drivers, challenges, opportunities, and restraints in the global smart labels market in addition to changing dynamics and emerging trends.
Throughout the projected period, the market for smart labels is anticipated to expand significantly. Smart labels are electronic tags that are utilised throughout the supply chain to track and trace products. RFID (Radio-Frequency Identification) or NFC (Near Field Communication) technology can be used to read these labels. They are a useful tool for supply chain management because they offer real-time details regarding the location, status, and condition of a product.
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The Major Key Players Are:
- Honeywell International Inc.
- Avery Denison Corporation
- CCL Industries Inc.
- Zebra Technologies Corporation
- SATO Holdings Corporation
- Checkpoint Systems Inc.
- Thin Film Electronics ASA
- others
The market is expanding as a result of the widespread usage of RFID technology in a variety of end-use sectors, including transportation, logistics, healthcare, and retail. Due to the widespread usage of RFID technology in retail outlets for inventory tracking and increased supply chain effectiveness, the retail sector significantly contributes to the market’s growth. RFID tags are used in the healthcare sector to track and trace medical supplies, medications, and other equipment. RFID tags are also used by the logistics and transportation sector to track and trace shipments, enhancing the effectiveness of supply chain operations.
The market for smart labels is segmented based on technology, end-use industry, and geography. The technology segment is further divided into RFID and NFC. RFID is the most widely used technology in the market, and it is expected to dominate the market during the forecast period. NFC technology is also expected to grow at a significant rate during the forecast period, as it is widely used in contactless payment systems.
The end-use industry segment is further divided into retail, healthcare, logistics, transportation, and others. The retail industry is expected to dominate the market during the forecast period, as RFID technology is widely used in retail stores to track inventory and improve supply chain efficiency. The healthcare industry is also expected to grow at a significant rate during the forecast period, as RFID tags are used to track and trace medical equipment, drugs, and other medical supplies.
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The market for smart labels is segmented based on geography into North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the market during the forecast period, owing to the increasing adoption of RFID technology in the retail industry. Europe is also expected to grow at a significant rate during the forecast period, as RFID technology is widely used in the logistics and transportation industry. The Asia-Pacific region is also expected to grow at a significant rate during the forecast period, due to the increasing adoption of RFID technology in the retail and healthcare industries.
In conclusion, the smart label market is expected to grow at a significant rate during the forecast period. The growth of the market is driven by the increasing adoption of RFID technology in various end-use industries such as retail, healthcare, logistics, and transportation. The market is segmented based on technology, end-use industry, and geography, with RFID technology and the retail industry expected to dominate the market during the forecast period.
Key Segments Of Smart Labels Industry Survey
Smart Labels Market By Labelling Technology :
- RFID
- NFC Tags
- EAS
- Sensing Labels
- Electronics Shelf Labels
Smart Labels Market By Printing Technology :
- Flexographic Smart Labels
- Digital Smart Labels
- Gravure Smart Labels
- Screen Smart Labels
Smart Labels Market By End Use :
- Smart Labels for Healthcare
- Smart Labels for Automotive
- Smart Labels for FMCG
- Smart Labels for Logistics
- Smart Labels for Retail
- Others
Smart Labels Market By Region :
- North America Smart Labels Market
- Latin America Smart Labels Market
- Europe Smart Labels Market
- East Asia Smart Labels Market
- South Asia & Pacific Smart Labels Market
- Middle East & Africa (MEA) Smart Labels Market
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