Smart Labels Market

Smart Labels Market Overview

The report is titled as ‘Smart Labels Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the Smart Labels market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market.

The smart labels market is estimated to reach at a value of US$ 9.7 Bn by the end of 2022 and expected to reach at a value of US$ 19.5 Bn by 2030 with a significant CAGR of 9.2%.

Smart Labels Overview

A smart label can be understood as a label that embodies technology that lengthens the contents and functionality of labels or packaging besides the conventional print approaches. The smart labels are available in a wide range of forms, spanning from RFID tags, to QR codes, to near field communication (NFC). These kinds of labels depend on communication with a consumer device, like a smartphone, to alleviate a synergy. One of the simplest examples of smart labels is one imprinted with a QR code. These QR codes allow the consumers to scan by their mobile devices and be linked to content like a web page or cue an application download. Smart tags and labels have the ability to impact the retail experience in a plenty of ways and empower for newer interactions between consumers and products. At the same time, RFID tags, another class of smart labels, carries the potential to enhance the capacity to keep a check on inventory and enable consumers a more convenient and seamless experience when shopping.

Moreover, smart labels incorporate an exclusive capability to enable manufacturers to keep interacting with their consumers even after the first purchase is done and they have taken the product home. Owing to all such properties, the idea of smart label is projected to gain immense traction all across the world, and thus, the global smart labels market is projected to grow significantly over the coming years.

Smart Labels Market Segmentation

The global smart labels market is segmented on the basis of technology, components, printing technology, application, end-user industry, and region.

By Technology

RFID

Electronic Article Surveillance Label

Sensing Label

Dynamic Display Label

By Components

Batteries

Transceivers

Microprocessors

Others

By Printing Technology

Flexographic Smart Labels

Digital Smart Labels

Gravure Smart Labels

Screen Smart Labels

By Application

Retail Inventory

Perishable Goods

Others

By End-User Industry

Food and Beverage

Healthcare and Pharmaceutical

Automotive

FMCG

Logistics

Retail

Others

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Smart Labels Market Key Players

Some of the key participating players in global Smart Labels market are:

Advantech Co., Ltd.

Alien Technology, LLC

AVERY DENNISON CORPORATION

CCL Industries.

GLI, LLC.

Invengo Technology Pte. Ltd.

Mühlbauer Group

SATO HOLDINGS CORPORATION

Checkpoint Systems, Inc.

Smartrac Technology GmbH

METRA BLANSKO s.r.o.

William Frick & Company

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

New product developments and launches

Current product compliance

Reimbursement

Concerns for use of Smart Labels

Advantages of Smart Labels

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s product sales, previous growth rates and market expansion plans are considered to generate market share in the market.

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