Smart Labels Market Overview:
Smart Labels Market created by Grocery Manufacturers Association (GMA), has gained increase in traction in the packaging industry, owing to growth in the demand for product information through smart devices. These labels acts as an innovative transparent label associated with digital technology and smart devices that enable consumers to access a detailed information about their products. The growth in global smart labels industry is expected to enable consumers to gain enhanced information visibility on the purchased products. Increase in demand for effective anti-theft devices, owing to security concern of the enterprises contribute to the significant rise in the demand for the global smart labels industry.
The global smart labels market has witnessed an increase in adoption in the packaging industry, owing to the ability to provide a detailed information to the customers about products with the use of digital technology and smart devices. In addition, increase in demand for global smart labels market is driven by its ability to provide real-time visibility of the product and rise in demand for effective anti-theft devices, owing to security concerns. Moreover, significant rise in consolidated industries and technological advancements associated with the use in various applications, such as healthcare, & pharmaceuticals, logistics, retail inventory, food & beverages, and others, have further boosted the growth of global smart labels market. Thus, the features of smart labels including real-time location tracing, re-programmability, and simultaneous identification & detailed information are expected to fuel the demand for the global smart labels industry in various sectors during the forecast period. However, lack of uniformity in standardized guidelines for smart labels is one of the major challenges restraining the market growth.
The key players operating in the global smart labels market include CCL Industries Inc., Thinfilm Electronics, Zebra Technologies Corporation, CCL Industries, Alien Technology Inc., Invengo Information Technology Co., Ltd., SATO Holdings, Zebra Technologies, and Graphic Label, Inc.
The global smart labels market is segmented on the basis of product type, application, end-user industry, and geography. On the basis of type, it is classified into radio frequency identification (RFID), electronic article surveillance labels (EAS), sensing labels, and dynamic display labels. Based on application, it is categorized into retail inventory, perishable goods, and others (pallets tracking, equipment, IT assets, and others). On the basis of end-user industry, the global smart labels industry is divided into retail, health & pharmaceuticals, food & beverage, logistics, fast-moving consumer goods (FMCG), automotive, and others. Geographically, it is analysed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).
The RFID labels segment generated the maximum revenue in the market, owing to its extensive applications in industries for automatic data capturing, information accuracy, and real-time tracking. Asia-Pacific is expected to exhibit the highest growth in the global smart labels market, owing to the rise in potential start-ups, growth in disposable income, increase in urbanization & industrialization, and surge in retail and health & pharmaceutical industries.
Top Impacting Factors
The global smart labels industry is driven by various benefits provided for the consumers as well as the companies. In addition, these are designed to provide real-time tracking of products, simultaneous identification, ability to re-program, and security assurance against theft & counterfeit practices. These advantages help consumers to gain access to the product characteristics and transit details of the product. In addition, these labels with the help of real-time tracking ability provide updates to the vendors about the product locations throughout the supply chain right from product exit from the warehouse and distribution centre to retail stores.
Rise in Number of Industry Consolidations and Technological Explorations
Rapid surge in population and rapid urbanization have led to the growth of various industries such as retail, food & beverage, healthcare & pharmaceuticals, and others to meet the consumers increasing demands These industries have various applications of smart labels, such as packaging, printing, and labels which thereby fuels the growth of global smart labels market.
Increase in Population and Rapid Urbanization
Rapid urbanization due to increase in population across various geographies is one of the major factors driving the adoption of smart labels technology across industries. Moreover, rise in disposable income and significant applications of smart devices to enable consumers to receive appropriate information about the products boost the growth of global smart labels market.
Rise in Tech Savvy Consumers Associated With Increase in technological Developments
Smart packaging provides enhanced customer interface, owing to the availability of technologically advanced and developed devices, which is also expected to increase the ratio of tech-savvy consumers. Therefore, the demand for technologically driven ways of accessing information has witnessed an enormous growth. Moreover, increase in number of tech savvy consumers use advanced forms of media & technology platforms, thus enabling the innovation of global smart labels industry to grow at a fast pace.
Poor Mechanical Susceptibility Restrains the Growth
The appropriate functioning (reading or encoding) of smart labels is hampered if they consist of metal or foil based and liquid based. In liquid based, RFID signal is being absorbed by the labels leading to unreadable tag. Thus, poor mechanical susceptibility characteristic lead to inefficient functioning of smart labels, thereby restraining the growth of global smart labels market
- This report provides a comprehensive analysis of the present & future market trends and opportunities for the growth of the global smart labels market from 2017 to 2023.
- Extensive analysis of segments, drivers, restraints, and trends related to the market in different geographies is provided.
- A detailed analysis of the top factors that impact the global market is provided.
- This report offers an insight into the competitive landscape in terms of strategies and product developments of smart labels market.
- It involves a detailed quantitative analysis of the current smart labels market and estimations throughout the forecast period.
Smart Labels Market Key Segments:
By Product Type
- Electronic Article Surveillance Label (EAS)
- Sensing Label
- Dynamic Display Label
By End-user Industry
- Food & Beverages
- Healthcare & Pharmaceuticals
- Retail Inventory
- Perishable Goods
- North America
- Rest of Europe
- Rest of APAC
- Latin America
- Middle East
- Advantech U.S.
- Alien Technology Inc.
- Avery Dennison
- CCL Industries Inc.
- Graphic Label, Inc.
- Invengo Information Technology Co., Ltd.
- Muehlbauer Holding Ag & Co.
- Thinfilm Electronics
- SATO Holdings
- Zebra Technologies Corporation
- Checkpoint Systems, Inc.
- Smartrac N.V.
- Metra Blansko
- TOSHIBA Global Commerce Solutions, Inc.
- Willian Frick & Company
- Intermec Inc.
- ASK S.A.