Global Smart Labels Market is valued approximately USD 7.21 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.68 % over the forecast period 2020-2027. Smart Label is ana flat configured transponder under a conventional print coded label which includes chip, antenna and bonding wires. A smart label is designed to implement advanced technology which leads to advantageous features such as automated reading, quick identification, re-programmability, high tolerance, and reduced errors. As a result, it is being preferred over conventional bar code systems in retail, FMCG, and logistics industries. These are mostly made from plastics, paper, and fibers. The market for smart labels is growing due to growth in industries such as retail, healthcare, manufacturing and Others along with the rise in demand of automated labels such as RFID and EAS. A smart label is designed to receive, record, and transmit digital information which results in a significant reduction of total tracking time. Thus, rising industrial utilization aids to minimize human intervention and errors, owing to its accuracy and efficiency driving the market growth. As in September 2020, Ynvisible Interactive Inc partnered with Agiler Oy, a Finnish high tech company, to develop a prototype of a smart label technology that can verify whether the surfaces in Public spaces have been successfully sterilized or not using modern UVC sterilization technology. Further, increasing investments by companies to improve anti-theft systems preventing inventory damage and revenue loss supports the market growth. In addition, surge in demand for global smart labels market is driven by its capability to provide real-time visibility of the product and rise in demand from the packaging industry. However, lack of uniformity in standardized guidelines impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Smart Labels market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and well established infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing manufacturing facilities and increasing penetration of IoT would create lucrative growth prospects for the Smart Labels market across Asia-Pacific region.
Major market player included in this report are:
Honeywell International Inc.
Avery Denison Corporation
CCL Industries Inc.
Zebra Technologies Corporation
SATO Holdings Corporation
Checkpoint Systems Inc.
Thin Film Electronics ASA
Muehlbauer Holding AG
Invengo Technology Pte. Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Labelling Technology:
Electronics Shelf Labels
By Printing Technology:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Smart Labels Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers