Smart Label Market Overview
Smart labels are a recent technological step to ensure security of products by having real-time data. These labels help in merchandise tracking which can make it an alluring component for myriad industries. The global smart label market is expected to grow substantially with an impressive CAGR during the forecast period (2016-2021). Market Research Future’s (MRFR’s) detailed report on the same market has shown potentials of the market in creating scopes for further expansion.
The global smart labels market has several facts playing in favor of the progress such as the interests shown by myriad industries, real-time tracking procedure, re-programmability, simultaneous identification, and others. Its features have increased product safety and security owing to which the smart label market is now enjoying traction from diverse segments.
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Companies have been launching significant strategic moves to ensure their personal growth, along with the holistic one for the market. These tactical decisions often depend on changing market dynamics. MRFR in their report on the smart label market enlisted several companies like
- Invengo Information Technology Co. Ltd.
- CCL Industries Inc.
- Avery Dennison Corporation
- Checkpoint Systems Inc.
- Sato Holdings Corporation
- Displaydata Ltd.
- Willian Frick & Company
- Smartrac N.V.
- Intermec Inc.
- Zebra Technologies Corporation
- ASK S.A.
- Thin Film Electronics ASA
- Alien Technology Inc.
- Graphic Label Inc.
- Muhlbauer Holding Ag & Co. Kgaa for a better analysis.
In May 2019, UPS announced that they have completed their expansion work of Louisville Centennial ground package sortation and distribution facility. The facility would have all the advanced packaging process technologies of UPS. The high-speed label applicator of the facility can place smart labels on products at 3 per second speed which will help in the identification of the UPS products and improve the logistic network.
Smart Label Market Segmentation
Type, technology, application, and end-user industry are segments described in the report of the global smart label market published by MRFR. This segmentation aims at providing a detailed analysis of the market to ensure better prospects and is backed by volume-based and value-based reading.
Based on types, the global smart labels market can be segmented into radio frequency identification (RFID), electronic shelf label, sensing label, & others. The RFID mode is gaining momentum, along with sensing label segment.
Based on the applications, the smart labels market includes retail, perishable goods, electronic & IT asset, and others. For perishable products, such integration is important as it with real-time data can initiate actions.
Based on the end-use industry, the smart labels market comprises manufacturing & retail, healthcare & pharmaceuticals, automotive, FMCG, logistics, and others. The logistics segment is evolving with the rising demand for product delivery via e-commerce sites. The healthcare & pharmaceuticals segment can also improve significantly owing to the surge in demand for delivery services in time.
North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are the four major regions in which MRFR had segmented the global smart label market for better geographical analysis. This would also trigger an understanding of the differing dynamics influencing regional markets.
With the growth in the manufacturing sector, the smart label market is bound to witness some whopping surge in the APAC region. Countries such as India, China, and Japan are making remarkable progress in not just introducing the idea but integrating it as well. Presence of several developing economies are also expected to trigger growth for the region. Investments are flowing in for the retail sector and security concerns are emerging as major concerns for the global smart label market.
North American region is gaining grounds from the fast integration of the advanced technology. The regional market is benefiting from the easy acceptance of latest technologies, high investment capacity, and huge industrial clusters.
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Growth in data centers and SME groups in businesses are triggering high growth for the European smart label market. Countries are investing to benefit from the logistic facilities that smart label market provides.
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