Global smart label market was valued at USD 4.21 trillion in 2015. It is projected to grow at a CAGR exceeding 14% between 2016 and 2025. Smart labels act as an electronic device embedded in the object's body that acts as an identification slip. They can be equipped with an antenna, chip, and bonding wires that allow for real-time tracking and identification of goods and assets.
Smart labels are designed to use advanced technology. They have many advantages such as automatic reading, fast identification, reprogrammability, high tolerance and reduced errors. Smart labels are preferred to traditional bar codes in the retail, FMCG and logistics industries. They are mostly made of plastics, paper, or fibers.
U.S. smart-label market revenue by application, 2014-2025 (USD Million).
In the recent past, the U.S. was a major consumer of smart labels in the world. The U.S. market has seen improvements in asset tracking and inventory management. In 2015, retail inventory was the largest segment of the market, followed closely by perishable goods.
Smart labels are designed to record, transmit, and receive digital information. This results in significant time savings. This is why smart labels are being increasingly used in industry to reduce human intervention and errors.
Smart labels provide effective solutions to major problems faced by manufacturers and retailers. This smart label is used widely to prevent shoplifting and theft. To prevent loss of revenue and inventory damage from shoplifting or theft, companies are increasing their anti-theft systems. This will in turn increase the demand during the forecast period.
Counterfeiting is another major problem in many industries. It can lead to poor product performance, brand deterioration, and threaten consumer safety. The demand for counterfeit products is expected to rise as more people are aware of the dangers.
The demand for smart labels has increased in recent years due to rapid economic growth, urbanization and an increase in per capita income in emerging countries. The market will be constrained by the high cost of smart label tracking systems installation in emerging economies. Market growth is expected to be impeded by low susceptibility and lack of uniformity in standardization systems.
RFID was the most used technical variety in 2015 and accounted for more than 65% of global demand. RFID labels offer key benefits such as flexibility, real-time tracking, data accuracy, automatic data capture and the ability to be applied to multiple substrates.
The use of dynamic display labels is expected to rise significantly. A dynamic display of pricing and product information would allow for easy price management and accuracy. This segment is expected to see the fastest growth over the forecast period.
The market's major components include transceivers and memories, batteries, and microprocessors. In 2025, the market will be dominated by the batteries segment.
The fastest growing segment among all the components is expected to be memories. This market segment is expected to see an increase in usage for asset tracking and inventory management over the forecast period.
In 2015, retail inventory accounted for more than 20% of the global smart label market. Retailers will likely drive significant demand for retail inventory applications over the forecast period due to their protection against shoplifting and theft.
Over the next few years, the perishable goods component is expected to experience the highest growth rate of any component. Smart label is widely used for shelf life monitoring and threshold detection of perishable goods, such as medicines, beverages, and food.
Retail was the largest consumer segment of smart label, accounting for more than 18.0% of the market in 2015. In the past, the key segments of this market were logistics and fast moving consumer goods (FMCG).
Volume of global smart label market by end-user in 2015 (million units).
The fastest growing segment of the market is expected to be healthcare & pharmaceuticals. The demand for healthcare and pharmaceutical products will rise due to increased spoil detection in hospital goods, medical equipment, and drugs.
Asia Pacific accounted for more than 35% of global demand and was the largest region market. Rising disposable income and rapid urbanization have fueled the growth in retail, logistics, FMCG, and other industries in these areas. This has resulted in a growing need for smart labels in end-user sectors.
Asia Pacific is expected to experience the fastest growth with an estimated CAGR over 11% in terms volume between 2016 and 2025, owing to economic development in countries like China, Japan, India South Korea, Singapore, Malaysia, Singapore, South Korea, South Korea, and Singapore. A large portion of the market will be in North America by 2025 due to the high demand from the U.S.
Avery Dennison Corporation, CCL Industries, Inc, Zebra Technologies Corporation, Alien Technology Inc, Intermec Inc, Checkpoint Systems, Inc are the key players in this market. These companies are primarily focused on expanding their product portfolios and increasing production capacity. To develop products that are suitable for specific applications, major manufacturers invest heavily in research and innovation.
Manufacturers are working hard to increase their presence in emerging markets. To increase their market share, the companies encourage collaboration and joint ventures.
This report predicts revenue growth and volume at the global, regional and country levels. It also provides analysis of industry trends for each sub-segment from 2014-2025. Up Market Research has divided the global smart label market based on technology, component, application and end-user.
Technology Outlook (Volume: Million Units; Revenue USD Million; 2014-2025)
Electronic Article Surveillance Labels (EAS)
Acousto-Magnetic EAS (AM)
Microwave EAS
Electro-Magnetic EAS
UHF, Gen 2 RFID EAS
RFID labels
Low Frequency (LF RFID)
RFID with high frequency (HF)
Ultra-High Frequency RFID (UHF)
Sensing labels
Position/Tilt Sensing labels
Chemical Sensing Labels
Humidity Sensing labels
Labels for Temperature Sensing
Electronic Shelf/Dynamic Labels
Near Field Communication (NFC), Tags
Component Outlook (Volume, Million Units; Revenue, USD Million; 2014 - 2025)
Transceivers
Memories
Batteries
Microprocessors
Other
Application Outlook (Volume: Million Units; Revenue USD Million; 2014-2025)
Retail Inventory
Perishable Goods
Electronic and IT Assets
Equipment
Pallets tracking
Other
End-user Outlook (Volume: Million Units; Revenue USD Million; 2014-2025)
Automotive
Fast Moving Consumer Goods
Healthcare & pharmaceutical
Logistic
Retail
Manufacturing
Other
Regional Outlook (Volume of Million Units, Revenue USD Million, 2014-2025)
North America
The U.S.
Europe
The U.K.
Germany
Asia Pacific
China
Japan
Central & South America
Brazil
MEA
Up Market Research published a new report titled “Smart Label Market research report which is segmented by Technology (RFID, EAS), by Component (Transceivers, Memories), By Players/Companies memories, transceivers, batteries, microprocessors The batteries segment is projected to dominate the market in 2025”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Smart Label Market Research Report |
By Technology | RFID, EAS |
By Component | Transceivers, Memories |
By Companies | memories, transceivers, batteries, microprocessors The batteries segment is projected to dominate the market in 2025 |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 214 |
Number of Tables & Figures | 150 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Technology (RFID, EAS), by Component (Transceivers, Memories).
Smart Label Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Smart Label Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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