Smart Labels Market Size to Reach USD 22850 Million by 207 at a CAGR of 16% | Valuates Reports

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Apr 12, 2022, 09:00 ET

BANGALORE, India, April 12, 2022 /PRNewswire/ -- The Global Smart Label Market is Segmented by Type (EAS Labels, RFID Labels, Sensing Labels, Electronic Shelf Labels, NFC Tags), by Application (Healthcare & Pharmaceutical, Automotive, Logistics, Retail, Manufacturing): Opportunity Analysis and Industry Forecast, 2021–2027. It is published in Valuates Reports under the Business Services Category.

In 2020, the global Smart Labels market size was USD 8085.8 Million and it is expected to reach USD 22850 Million by the end of 2027, with a CAGR of 16.0% from 2021-to 2027.

Major factors driving the growth of the smart label market are:

Benefits such as the need to reduce food wastage through tracking the quantity of each product, enhanced food safety by tracking movement throughout the supply chain, and the need to prevent counterfeit foods are expected to drive the growth of the smart label market.

Smart labels are also playing a vital role in the marketing and advertising of consumer products. This in turn is expected to further fuel the smart label market growth.

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TRENDS INFLUENCING THE GLOBAL SMART LABELS MARKET

A key trend shaping the smart label market growth is the use of smart labels to reduce food waste and improve food safety. These labels can help reduce food waste by tracing the freshness of the product and making information visible to customers and suppliers. As a result, steps can be taken to prevent food waste. Furthermore, Smart labels add a functional element to packaging by providing a unique digital identity for everyday products that can be used to connect supply chains, optimize inventory, create a unique consumer experience, and protect products from theft and counterfeiting. This factor is expected to further fuel the smart label market growth.

The use of smart labels on food packaging is becoming increasingly popular among manufacturers. A growing market trend is customers' growing interest in the ethical credentials and health benefits of food and beverages. With the increased information capacity of smart labels, more data about the health and ethics of food and beverages can be presented. This in turn is expected to drive the smart label market growth.

These labels are used to enable smart supply chains and also play an important role in consumer product marketing and advertising. This can be accomplished by providing product information as well as analyzing consumer buying patterns based on the information collected by these labels. Cost-cutting across the supply chain by manufacturers to get closer to the nearest level of efficiency has boosted demand and prompted proactive adoption of these solutions to gain the first-mover advantage in the individual end-user industry. This factor is expected to further propel the smart label market growth.

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SMART LABELS MARKET SHARE

Based on type, the RFID segment is expected to be the most lucrative.

Based on application, the Retail segment is expected to be the most lucrative. The retail industry has started using RFID Technology, and it now accounts for the highest number of labels and tags volumes.

Based on region, Asia Pacific is expected to be the most lucrative, due to an increase in potential start-ups, an increase in disposable income, an increase in urbanization and industrialization, and an increase in the retail and health and pharmaceutical industries.

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TOP COMPANIES IN THE SMART LABEL MARKET:

Key players in the smart label market include Checkpoint Systems (CCL), Avery Dennison, Sato Holdings Corporation, Tyco Sensormatic, Smartrac, etc. Global top five manufacturers hold a share of over 35%.

Other Key Players

SES (imagotag)
Zebra
Fujitsu
Honeywell
TAG Company
Paragon ID
Century
Pricer
Alien Technology
Invengo Information Technology
Multi-Color Corporation
Samsung
E Ink
Displaydata

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SIMILAR REPORTS:

- The global Smart Retail market size is projected to reach USD 785 Billion by 2027, from USD 142 Billion in 2020, at a Compound Annual Growth Rate (CAGR) of 28% during 2021-2027.

- The global big data analytics in retail market size was valued at USD 4854 Million in 2020 and is projected to reach USD 25560 Million by 2028 registering a CAGR of 23.1% from 2021 to 2028.

- The global AR in Retail market size is projected to reach USD 6736.2 Million by 2028, from USD 1853.7 Million in 2021, at a Compound Annual Growth Rate (CAGR) of 20.0% during 2022-2028.

- The global Retail Analytics market size is projected to reach USD 4514.8 Million by 2027, from USD 2471 Million in 2020, at a Compound Annual Growth Rate (CAGR) of 9.0% during 2021-2027.

- The electronic shelf label (ESL) market size was valued at USD 624.7 Million in 2018 and is projected to reach USD 2.40 Billion by 2027, growing at a CAGR of 15.9% from 2020 to 2027.

- Due to the COVID-19 pandemic, the global E-Commerce Packaging market size is estimated to be worth USD 26630 Million in 2022 and is forecast to be a readjusted size of USD 64210 Million by 2028 with a CAGR of 15.8% during the review period.

- The global smart retail devices market size was valued at USD 17.43 Billion in 2019 and is projected to reach USD 74.68 Billion by 2027, registering a CAGR of 17.2% from 2020 to 2027.

- Due to the COVID-19 pandemic, the global Passive RFID Tags market size is estimated to be worth USD 2094.8 Million in 2022 and is forecast to a readjusted size of USD 3066.9 Million by 2028 with a CAGR of 6.6% during the review period.

- Global Electronic Article Surveillance (EAS) Labels Market Insights and Forecast to 2028

- Global Radio Frequency Identification (RFID) Smart Label Market Insights and Forecast to 2028

- Global Sensing Labels Market Insights and Forecast to 2028

- Global Near Field Communication (NFC) Tags Market Insights and Forecast to 2028

- Global Smart Tag Market Insights and Forecast to 2028

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