An inventory tag system consists of wireless computer, barcode scanner, industrial PC, barcode printer and a software. These systems are used to manage the complete lifecycle of particular product, track their location for ensuring that assets are not missing or stolen. A tag is a label attached to a product for providing identification details of the products. Every product offered to the consumers comes with a unique tag. The inventory tag is also used to identify the variety of a product. An inventory tracking system aids in purchasing process, forecasting the sales and preventing theft from employees or customers. In line with this, efficient management of the inventory is a key factor to reduce the demand-supply gap and minimize losing out on customers. Efficient management of inventory further reduces the transportation costs and uneconomical overstock.
Efforts towards standardization, rapid industrialization across the globe, stringent regulations towards packaging by the regulatory bodies, assurance to consumers about the product, increase in security measures against theft are the major factors that drive the growth of the market. However, lack of knowledge about the technology and dearth of skilled workers restrain the market growth.
The inventory tag system market is segmented on the basis of material, technology, end user, printing method, and geography. The material segment includes paper, plastic, and metals used to prepare the tags. By technology, the market is categorized into barcodes, radio frequency identification, and others. Based on user, it is divided into industrial, retail, logistics, and others. The printing method includes flexography printing, digital printing, screen printing, offset printing, and letterpress printing. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The key players operating in the market include 3M, Alien Technology, Avery Dennison Corporation, Brady Corporation, Cenveo Corporation, Checkpoint Systems Inc., Hewlett-Packard Development Company, L.P., Smartrac N.V., Tyco International Plc., and ZIH Corporation.
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global inventory tag system market.
- In-depth analysis is done by constructing market estimations for the key market segments between 2017 and 2023.
- Extensive analysis of the global market by material and technology helps to understand the types of tags that are currently used along with the variants that are expected to gain prominence in the future.
- Competitive intelligence of the market helps in understanding the competitive scenario across the regions of the world.
Inventory Tag System Market Key Segments:
- Radio Frequency Identification (RFID)
- Flexography Printing
- Digital Printing
- Screen Printing
- Offset Printing
- Letterpress Printing
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
- Alien Technology.
- Avery Dennison Corporation
- Brady Corporation
- Cenveo Corporation.
- Checkpoint Systems Inc.
- Hewlett-Packard Development Company, L.P.
- Smartrac N.V.
- Tyco International Plc.
- ZIH Corporation