Smart Labels Will Reform the Packaging Industry and Provide Lucrative Business During Forecast Period 2019 to 2026

  • 13 Mar 2019
  • Packaging & Labelling

Smart labels are becoming a standout amongst popular innovations across the retail, healthcare, consumer goods and manufacturing sector among others, they are perceived as a perfect approach to accomplish noteworthy efficiencies and profit while giving the genuineness of a product. Furthermore, smart labels assist in traceability right from the warehouse, the distribution channels and throughout the supply chain. 

The most common developments in smart labels are Electronic Article Surveillance (EAS) tags, QR codes and specially configured RFID tags.

Smart Labels to Revolutionise Retail & FMCG

The ability to provide real-time tracking and present customers with comprehensive knowledge about products using digital technology and smart devices is fostering the growth of the global smart labels market. 

Smart labels and sensing labels are preferred profoundly in F&B industries due to their ability to track the change in temperature, carbon dioxide, oxygen, or other environmental factors that could affect the quality of the product. Hence the perishable goods segment is estimated to grow at the highest CAGR during the forecast period. 

RFID technology has potentially endless applications for maintaining accuracy and adding value to the healthcare industry. RFID labelling serves an extensive microcosm of the healthcare industry as a whole, with, movement of pharmaceuticals and samples, diagnostic testing, and patient care, and medication dispensing all happening under one roof. Smart labelling privileges hospitals and the entire healthcare industry from primary care offices to diagnostics labs to the pharmaceutical supply chain from end-to-end traceability enhanced productivity and improved inventory management.

Global Smart Labels Market, by Product Type

+ RFID
+ Electronic Surveillance Label
+ NFC Tags Sensing Label
+ Dynamic Label 
 

RFID Labels to Witness Highest Growth

RFID labels are increasingly gaining traction owing to attributes such as traceability, providing assistance with operations of inventory management and synchronised supply chain management. RFID labels play a crucial role in the process of repairs and maintenance combined with real-time tracking and maintaining the genuine credibility of a product. Owing to the widespread use of RFID labels in various industries, this segment is poised to value over US$ 5500 by 2026. 

Global Smart Labels Market, by Component
+ Microprocessors
+ Transceivers
+ Memories
+ Batteries
Memories are projected to grow at the highest CAGR,  owing to its increasing use in asset tracking and inventory management.
 

Global Smart Labels Market, by End User

+ Automotive
+ Retail 
+ Healthcare
+ Industrial Manufacturing
+ Consumer Goods
The healthcare industry is anticipated to grow at the highest CAGR. Increasing usage of this technology in spoil detection of test samples, hospital goods, drugs, and medical equipment is expected to drive demand across the healthcare sector.

Global Smart Labels Market, by Region 
+ Europe  
+ North America  
+ APAC  
+ Latin America
+ Rest of World
North America to Play a Pivotal Role in Growth of Smart Label Market. North America is the biggest market for smart labels globally, with the United States accounting for the dominant share in the region. The market growth in the United States can be attributed to a large presence of retail stores. Retail giants, such as Target, Walmart and others, are boosting the activity, broadly contributing to the growth of the smart label market in the country. Walmart has been placing electronic identification tags on items of clothing, to prevent theft, and to gain more control over its inventory.

Competitive Landscape:  
+ Tier 1 players- established companies in the market with a major market share  
+ Tier 2 players 
+ Emerging players which are growing rapidly 
+ New Entrants  


Major firms in the market are Avery Dennison Corporation, CCL Industries Inc., Toshiba Global Commerce Solutions, Inc., Muhlbauer Holding Ag & Co. KGaA., Smartrac N.V., Thin Film Electronics ASA, Advantech US, Zebra Technologies, Metra Blansko, Graphic Label, Inc., Invengo Technology BV, and Checkpoint Systems.

FutureWise Takeaways  
+ Growth prospects  
+ SWOT analysis 
+ Key trends 
+ Key data-points affecting market growth  
 

Objectives of the Study:

+ To provide with an exhaustive analysis on the global smart labels market on the basis of product type, component, end-user and region   
+ To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) 
+ To evaluate and forecast micro-markets and an overall market  
+ To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East 
+ To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
+ Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

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