The latest report by IMARC Group, titled “Smart Labels Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the industry, which comprises insights on smart labels market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global smart labels market size reached US$ 10.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 29.7 Billion by 2032, exhibiting a growth rate (CAGR) of 11.4% during 2024-2032.
Smart Labels Market Trends:
The global market is primarily driven by the rising need for anti-theft measures in retail and logistics sectors. Furthermore, the growing popularity of smart labels in the healthcare industry, where accurate and timely information is crucial, propels market growth. The rapid advancements on the Internet of Things (IoT) technology, which integrates smart labels into broader connected systems, also contribute to their increased use. Moreover, the expanding e-commerce sector, with its need for efficient logistics and inventory systems, accelerates the demand for smart labels.
Besides, the stringent regulations in the food and beverage industry regarding traceability and safety enhance the utilization of smart labels for compliance purposes. Additionally, the shift towards automation in various industries underscores the importance of smart labels in streamlining operations. The increasing consumer preference for authenticity verification and brand protection further drives market growth, as smart labels offer reliable solutions for these needs.
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Smart Labels Market Scope and Growth Analysis:
The global market scope is broadening due to the development of more sophisticated and multifunctional smart labels. Market analysis indicates a significant adoption of RFID, NFC, and electronic article surveillance (EAS) technologies within smart labels, providing diverse functionalities and improving operational efficiencies. The rising emphasis on sustainability and eco-friendly solutions also broadens the market scope, with manufacturers focusing on developing recyclable and biodegradable smart labels.
Additionally, the integration of smart labels with blockchain technology for secure and transparent supply chain management is gaining traction, expanding their application base. The global reach of e-commerce platforms facilitates the widespread use of smart labels for better inventory and shipment tracking. Furthermore, the growing investments in research and development by key market players to innovate and improve smart label technologies contribute to the market expansion. The increasing awareness and adoption of smart packaging solutions in consumer goods also enhance the market scope, as they provide value-added benefits to both manufacturers and consumers.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Avery Dennison Corporation
- CCL Industries Inc
- Checkpoints Systems, Inc
- Zebra Technologies Corporation
- Intermec, Inc.
- Invengo Information Technology Co Ltd
- Sato Holdings Corporation
- Thin Film Electronics ASA
- Smartrac N.V.
- Muehlbauer Holding AG
Smart Labels Market Segmentation:
Our report has categorized the market based on region, type, component type and end use industry.
Breakup by Type:
- RFID
- Electronic Article Surveillance
- Electronic Shelf Label
- Sensing Label
- Near Field Communication
Breakup by Component Type:
- Batteries
- Transceivers
- Microprocessors
- Memories
- Others
Breakup by End-user:
- Retail
- Logistics and Transportation
- Healthcare
- Food and Beverage
- Aerospace
- Data Centers
- Libraries
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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