The global smart labels market size reached US$ 8.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 18 Billion by 2027, exhibiting a growth rate (CAGR) of 13.47% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Smart labels act as an innovative label through which anyone can track information about a product through their smart devices. These smart labels not only carry information about the product and the ingredients used in it but also provide information about manufacturers, date of manufacturing and other crucial information. Different industries are currently using smart labels, such as manufacturing, food and beverage, healthcare, automotive, retail, security, FMCG, etc. These smart labels also offer smart traceability of a product and help in maintaining its authenticity. A number of factors are currently driving the market for smart labels.

Industries such as logistics and transportation are greatly benefiting from smart label technology as smart labels help in attaining higher levels of productivity and accuracy in delivery. Moreover, smart labels also help in enhancing inventory management and product information. Smart labels carry significant advantages over barcode-only labels that simply cannot provide the same level of accuracy, readability and the depth of information.

In the retail segment, companies are strongly benefiting from smart label technology. For instance, large retailers along with their suppliers are experiencing better product tracking and inventory management. Organizations are able to achieve huge time savings, which is also leading to reduced labor costs as companies no longer have to rely on a handheld scanners to extract information on products.

Shopkeepers and manufacturers have also benefited from smart label technology as they are extremely efficient in reducing shoplifting and theft. They also aid in strategies to prevent criminals from breaking into drug stores to access prescription drugs. All these products can be easily tracked and monitored using smart tags. This advantage can also be achieved inside the warehouse environment to decrease product theft on the back-end segment of the business.

There is an increasing awareness in the industry about counterfeiting and smart labels are playing a major role in reducing counterfeit attempts in all type of products.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart labels market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on technology, component and end-user.

Breakup by Technology:

Radio-Frequency Identification (RFID)
Electronic Article Surveillance (EAS)
Electronic Shelf Label (ESL)
Sensing Labels
Near Field Communication (NFC)

Breakup by Component:

Batteries
Transceivers
Microprocessors
Memories
Others

Breakup by End-User:

Retail
Logistics and Transportation
Healthcare
Food and Beverage
Aerospace
Data Centers and Libraries
Others

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players being Avery Dennison Corporation, CCL Industries Inc., Checkpoints Systems, Inc., Zebra Technologies Corporation, Intermec Inc., Invengo Technology Pte. Ltd., Sato Holdings Corporation, Thin Film Electronics ASA (Ensurge Micropower ASA), Smartrac N.V. and Muehlbauer Holding AG.

This report provides a deep insight into the global smart labels market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global smart labels market in any manner.

Key questions answered in this report:
How has the global smart labels market performed so far and how will it perform in the coming years?
What are the key regional markets in the global smart labels industry?
What has been the impact of COVID-19 on the global smart labels market?
What are the key technologies in the global smart labels industry?
What are the major components in the global smart labels industry?
What are the key end-user segments in the global smart labels industry?
What are the various stages in the value chain of the global smart labels market?
What are the key driving factors and challenges in the global smart labels market?
What is the structure of the global smart labels market and who are the key players?
What is the degree of competition in the global smart labels market?
How are smart labels manufactured?