Smart Labels Market Global Industry Analysis, Development, Opportunities, Future Growth and Business Prospects by Forecast To 2027
New York, June 30, 2021 (GLOBE NEWSWIRE) -- Smart
Labels Market Overview: According to a comprehensive research
report by Market Research Future (MRFR), “Smart Labels Market Research Report, Type,
Application, End-use industry and Region - Forecast till 2027” The
market is projected to be worth USD 21.52 billion by 2027, registering a CAGR
of 18.29% during the forecast period (2021 - 2027), The market was valued at
USD 9.3 billion in 2020.
Market Analysis
COVID-19 Pandemic to Have Positive Impact on the Global
Market
The COVID-19 outbreak has caused a significant economic
slowdown, which can be attributed to the imposition of severe lockdowns to
prevent the virus's spread. As a result, substantial slumps have occurred in a
number of industries, forcing companies to modify their growth estimates for
the near future. Certain sectors of the packaging business, such as healthcare
consumables, fresh and processed foods, and FMCG e-commerce, have seen a surge
in demand since the outbreak of the pandemic. As a result, the possibilities
for smart labeling in these sectors appear promising in the coming time.
Swelling demand for masks, gloves, prefilled syringes, and
vials has increased demand for healthcare packaging solutions, resulting in an
increase in the market for RFID smart labels, NFC, and EAS labeling systems for
these products. Prospects have also expanded as a result of the faster
manufacture of COVID-19 testing kits. Furthermore, increased e-commerce sales
as a result of movement restrictions have increased the application prospects
of smart labels. The growing demand for foodstuffs, FMCGs, and healthcare
products have increased the need for packaging solutions such as corrugated
boxes and films that require proper labeling.
Get Free Sample PDF Brochure https://www.marketresearchfuture.com/sample_request/1294
Key Players
The key players in the global smart labels market report
profiled include-
- CCL
Industries Inc.
- Invengo
Information Technology Co. Ltd.
- Checkpoint
Systems Inc.
- Avery
Dennison Corporation
- Displaydata
Ltd.
- Sato
Holdings Corporation
- Smartrac
N.V.
- Willian
Frick & Company
- Zebra
Technologies Corporation
- Intermec
Inc.
- Thin
Film Electronics ASA
- ASK
S.A.
- Graphic
Label Inc.
- Alien
Technology Inc.
- Muhlbauer
Holding Ag & Co. Kgaa.
Increasing Security Concerns
The global smart labels market is driven by several benefits
provided to both businesses and consumers. Furthermore, these are intended to
give real-time product tracking, instantaneous identification, the ability to
re-program, and security assurance against theft and counterfeit practices.
These benefits enable consumers to obtain access to the product's
characteristics and transit details. Furthermore, with the support of real-time
tracking capabilities, these labels offer vendors with updates on product
positions across the supply chain, from product exit from the warehouse and
distribution center to retail outlets.
Flourishing Retail Sector
The retail industry is expanding, especially in developing
and emerging economies. Changing lifestyles as a result of increased per capita
disposable incomes are driving up demand for meat, poultry, and seafood. This
has helped allied industries such as branding and labeling gain traction.
As a result, manufacturers are looking into more advanced
labeling solutions, which has led to the emergence of smart labeling.
Furthermore, smart labels can be used to track product longevity and inventory.
Based on these developments, the worldwide smart label industry is set to soar
to new heights.
Browse In-depth Market Research Report (115 pages) on Smart Labels
https://www.marketresearchfuture.com/reports/smart-labels-market-1294
Market Segmentation
By Technology, RFID to Lead the Global Market
RFID is expected to increase rapidly throughout the forecast
period due to features such as information accuracy, automatic data
acquisition, the flexibility to be put on a variety of substrates, and
real-time tracking. RFID systems are widely used to maintain inventory
management and supply chain management systems in sync. Due to their high
traceability, these are employed in a wide range of industries, including
automotive and FMCG. RFID, in conjunction with asset tracking software, can
help firms synchronize their repair and maintenance processes.
Share your Queries https://www.marketresearchfuture.com/enquiry/1294
Regional Analysis
APAC to Dominate the Global Market
With its rapidly expanding global market, APAC dominates the
global smart labels industry. It will grow at a substantial CAGR over the
projection period. The region is predicted to have strong economic growth,
expanding industrial industries, low labor costs, and greater investment in the
retail sector, all of which will drive demand for smart labels due to security
concerns.
Segmentation of Market covered in the research:
Information by Type (RFID, Electronic Shelf Label, Sensing
Label, & others) by Application (Electronic & IT asset, Retail,
Perishable goods, and others) by End-use industry (Manufacturing & Retail,
Healthcare & pharmaceuticals, Automotive, FMCG, logistics and others) and
Region (North America, Europe, Asia-Pacific, and Rest of the World)
About Market Research Future:
Market Research Future (MRFR) is a global market research
company that takes pride in its services, offering a complete and accurate
analysis with regard to diverse markets and consumers worldwide. Market
Research Future has the distinguished objective of providing the optimal
quality research and granular research to clients. Our market research studies
by products, services, technologies, applications, end users, and market
players for global, regional, and country level market segments, enable our
clients to see more, know more, and do more, which help answer your most
important questions.
Comments
Post a Comment