Press release
Smart Labels Market Size, CAGR, Sales Analysis & Opportunity 2022-2030
Smart Labels Market
Ascending disposable incomes owing to rapid urbanization and improving living standards is stimulating demand for various consumer goods across the traditional and e-commerce retail segments respectively. There is an increase in footfalls across brick and mortar stores for purchasing various products.
As a result, demand for proper packaging solutions is on the rise. Manufacturers are abandoning conventional barcodes in favour of advanced smart label solutions such as RFIDs and NFCs to provide clear information regarding product formulation, expiry and manufacturing process.
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Key Takeaways from the Smart Labels Market Report
Global smart labels market is slated to expand at a value CAGR worth 11.2% from 2022-2030
RFID labelling to witness prolific adoption, comprising almost 60% of the revenue share by 2030
Digital printing technology is likely to acquire 480 BPS attributed to the need for clear labelling and information provision
Retail & logistics industries to collectively account for over half of the revenue share
North America to remain market hegemon, APEJ to register a dexterous growth trajectory
COVID-19 Impact Analysis
In spite of witnessing a major slump across key industry verticals, the market for smart labels is anticipated to remain sustained in the wake of surging demand for processed foods, healthcare consumables and FMCGs.
Consumers are availing the aforementioned products via e-commerce channels due to social distancing, which requires vendors to package and label the goods properly and deliver them to their customers.
Hence, RFID and QR aided labelling are witnessing widespread adoption.
During this unprecedented era when personal hygiene takes precedence over everything else, it is imperative for manufacturers to ensure that healthcare and disinfectant products are adulteration free, thus increasing the need for proper inventory tracking solutions, thus uplifting smart labels growth prospects.
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Competitive Landscape
Market players are focusing on expanding their global outreach through diversification of product portfolios, collaborations, product launches and doling out customized labelling solutions for various industries.
For instance,
In September 2020, Avery Dennison Corporation introduced a completely biodegradable tag fastener for the apparel industry. The tag is highly eco-friendly, being able to decompose upon exposure to soil microbes and leaving behind no micro-plastics or other harmful substances.
In November 2020, CCL Industries Inc., a leading player in the smart labels market, announced the acquisition of Super Enterprises Printing (Malaysia) Sdn, a leading supplier of decorative panels, liquid crystal & touch screen display covers, and in-mould decorated components for the consumer electronics and automotive sectors across Asia.
Key Companies Profiled
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.
OPRFID Technologies
Key Segments Of Smart Labels Industry Survey
By Labelling Technology:
RFID
NFC Tags
EAS
Sensing Labels
Electronics Shelf Labels
By Printing Technology:
Flexographic Smart Labels
Digital Smart Labels
Gravure Smart Labels
Screen Smart Labels
By End Use:
Smart Labels for Healthcare
Smart Labels for Automotive
Smart Labels for FMCG
Smart Labels for Logistics
Smart Labels for Retail
Others
By Region:
North America Smart Labels Market
Latin America Smart Labels Market
Europe Smart Labels Market
East Asia Smart Labels Market
South Asia & Pacific Smart Labels Market
Middle East & Africa (MEA) Smart Labels Market
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients
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