- Increasing growth of Internet of Things in developed countries is driving demand.
- Smart labels providers are increasingly focusing to the RFID enabled smart labels.
- The North America market dominated the smart labels market.
In this report, Research Report Insights (RRI) delivers key insights on the global smart labels market in its published report, titled “Smart labels Market by 2026” In terms of revenue, The segment is expected to create incremental opportunity of more than $ 10 billion from 2016 to 2026. In terms of volume, the RFID segment is expected to register a CAGR of 17.1% over the projected period, owing to numerous factors, about which RRI offers thorough insights and forecasts in this report.
The market is segmented based on technology type, end use, printing technology type and region. Based on technology type, the market is sub-segmented into RFID, NFC tags, electronic article surveillance, sensing labels and electronic shelf labels. Among all the technology type segment, RFID segment is expected to account for the highest market share, followed by electronic article surveillance segment over the forecast period. The electronic article surveillance technology type segment is expected to register a significant CAGR of 16.5% during the forecast period in terms of value. The sensing labels segment is projected to register a decent CAGR of 16.3% over the forecast period. The factors fueling demand for smart labels solution is the increasing growth of Internet of Things in developed countries. Moreover, due to the globalization many perishable food items, are exported to different countries which is also expected to further assist to create a huge buzz in the global smart labels market.
To provide in-depth insights on the pattern of demand for smart labels, the market is segmented on the basis of end use such as healthcare, automotive, FMCG, logistics, retail and others (aerospace, library etc.). The healthcare end use segment is projected to grow at a significant CAGR of 18.4% over the forecast period in terms of value. The market has also been segmented by printing technology type which includes flexographic, digital, gravure and screen segments. Flexographic printing technology segment is anticipated to be most attractive segment in terms of value over the forecast period. Gravure printing technology segment accounted for significant market share 29.3% in 2016. However, digital printing technology segment is anticipated to witness maximum growth during the forecast period.
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Organized Retail Sector and Reducing Counterfeiting to Drive Growth of the Global Smart labels Market
A key trend defining the market is that the smart labels providers are increasingly focusing to the RFID enabled smart labels which is gaining traction in the smart labels market due to the property to hold more data than other technology. Moreover, RFID enabled smart labels is active in the tough environment where normal barcode labels are not able to operate.
This report assesses trends driving growth of each segment on the global level and offers potential takeaways that could prove substantially useful to smart labels manufacturers looking to enter the market. The North America market dominated the smart labels market, accounting for maximum revenue share of the market in 2016. Collectively, Western Europe and APEJ markets accounted for over 35.0% revenue share of the global smart labels market in 2016. Among the emerging markets, Asia Pacific excluding Japan is estimated to exhibit a significant CAGR of 18.2% over the forecast period. However, Middle East & Africa region is expected to be slothful during the forecast period.
Some of the key players in the global smart labels market include Avery Dennison Corporation, CCL Industries Inc., Muehlbauer Holding AG, Checkpoints Systems, Inc., Thin Film Electronics ASA, Zebra Technologies Corporation, Sato Holdings Corporation, Invengo Information Technology Co Ltd and Intermec, Inc.. In this report, we have discussed individual strategies followed by these companies in terms of enhancing their product portfolio, creating new marketing techniques, mergers and acquisitions. The ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and company share collectively.