Market Analysis
The global smart labels market is predicted to grow at a healthy CAGR by 2021, states the recent Market Research Future (MRFR) analysis. A smart label, simply put, is an item identification slip that is used for tracking information regarding a product using a smart device. These labels carry crucial information like ingredient details, pricing details, product details, the date of manufacturing, manufacturer details, and others. Some of its benefits include re-programmability, reduction in errors, rapid identification, automated reading, and high tolerance. Smart labels have extensive applications in logistics, FMCG, automotive, healthcare and pharmaceuticals, manufacturing and retail, and others.
Various factors are propelling the global smart labels market share. As per the current MRFR report, such factors include the presence of emerging economies, burgeoning demand for automated labels like EAS and RFID, booming manufacturing, healthcare, and retail industries, increasing use in the retail industry to improve inventory management & product information, and growing demand for safety measures against shoplifting, counterfeiting, loss, and theft. Additional factors adding market growth include the use of smart labels to reduce labor cost, offer real-time tracking solutions, rising technological advances in printed electronics, & increasing emergence of technologies like dynamic display labels and electronic shelf labels.
On the contrary, high cost, lack of unformal standards, high complexity of device interoperability & technologies, and the ongoing COVID-19 impact are factors that may impede the global smart labels market growth over the forecast period.
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global smart labels market based on type, application, and end use.
By type, the global smart labels market is segmented into sensing label, shelf label, electronic, RFID, and others. Of these, the RFID segment will lead the market over the forecast period.
By application, the global smart labels market is segmented into perishable goods, retail, electronic and IT asset, and others. Of these, the perishable goods segment will dominate the market over the forecast period.
By end use industry, the global smart labels market is segmented into logistics, FMCG, automotive, healthcare and pharmaceuticals, manufacturing and retail, and others. Of these, the manufacturing and retail segment will command the largest share in the market over the forecast period.
Regional Analysis
Based on the region, the smart labels market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). Of these, the APAC region will lead the market over the forecast period. Rapid financial growth, mounting manufacturing industries, huge investments in the retail sector, economical labor, the presence of emerging economies, and booming industries like manufacturing, retail, and healthcare, are adding to the global smart labels market growth in the region.
The global smart labels market in North America is predicted to have the second-largest share over the forecast period. Burgeoning demand in logistics, retail, and manufacturing industries is adding to the global smart labels market growth in the region.
The global smart labels market in Europe is predicted to have favorable growth over the forecast period. A boost in the count of data centers is adding to the global smart labels market growth in the region.
The global smart labels market in the RoW is predicted to have sound growth over the forecast period.
Key Players
Key contenders profiled in the global smart labels market report include Muhlbauer Holding Ag & Co. Kgaa, Alien Technology Inc., Graphic Label Inc., ASK S.A., Thin Film Electronics ASA, Intermec Inc., Zebra Technologies Corporation, Willian Frick & Company, Smartrac N.V., Sato Holdings Corporation, Displaydata Ltd., Avery Dennison Corporation, Checkpoint Systems Inc., Invengo Information Technology Co. Ltd., and CCL Industries Inc.
Browse complete report @
https://www.marketresearchfuture.com/reports/smart-labels-market-1294
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Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. The data is compared against third-party agencies and reputed organizations for estimating valuations and revenue projections.
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