Smart Labels Market Size to Boom With Increasing Demand From Packaging, Automotive, Construction, Healthcare, FMCG, and Retail Sector by 2028 | Radiant Insights, Inc.
SAN FRANCISCO, Jan. 8, 2020 /PRNewswire/ -- Global Smart Labels Market is estimated to expand at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe. This is attributed to their ever-increasing demand in packaging, automotive, construction, healthcare, FMCG, and retail. The market is likely to get catalyzed by need for automated and streamlines operations in the businesses.
Smart labels do render reliability and simple operation. The other benefits include theft protection and aversion of counterfeiting. As such, the manufacturers are investing extensively in lessening revenue loss and inventory damage due to shop lifting and theft. It's a known fact that "counterfeit" results in poor performance of product along with brand deterioration; thereby threatening safety of consumers. Growing focus on reduction of counterfeit problems is expected to create a positive impact on smart labels market; especially from automotive and manufacturing sectors.
The latest trends catching up on this count include enhancements like electronic article surveillance tags and specifically configured RFID tags. The configuration consists of bonding wires, chip, and antenna. They aid in having the goods tracked and are also designed for recording, receiving, and transmitting digital information; which, in turn, does reduce tracking time on significant basis. The best part of smart labels is that human intervention holds minimal share.
The smart labels market is segmented by technology, application, end-user, and geography. By technology, the segmentation goes like NFC tags, sensing, EAS, RFID, and electronic shelf or dynamic display. RFID is expected to hold the largest market share due to automatic data capture, information security, real-time tracking, and flexibility regarding several substrates. By application, the market says pallet, security access, electronic & IT asset, perishable goods, reusable goods, retail & inventory tracking, and smart wrist bands for patient care.
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By end-user, the smart labels market comprises FMCG, retail, automotive, logistics, aerospace, manufacturing, postal services, construction, and healthcare. By geography, the same market states North America, Europe, Asia Pacific, LATAM, and MEA. North America rules the roost due to immediate adoption of technology. Europe comes in second with Asia Pacific likely to hold the hopes high. This is due to the fact that India is turning out to be a hub of FMCG.
The players contributing to the market include Zebra Technologies, Checkpoint Systems, Invengo Technology BV, Graphic Label, Inc., Advantech US, Thin Film Electronics ASA, Smartrac N.V., CCL Industries Inc., and Avery Dennison Corporation.
This report provides detailed historical analysis of global market for Smart Labels from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Smart Labels market.
Access 118 page research report with TOC on "Global Smart Labels Market" available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/2013-2028-report-on-global-smart-labels-market
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