Global Smart Labels Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Smart Labels Market: Overview

“The global Smart Labels market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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A smart label is an item identification slip used to track information about a product through smart devices. Smart labels carry various crucial information such as manufacturer details, date of manufacturing, product details, pricing details, ingredient details, and others.

A smart label is widely used in industries such as logistics and transportation to gain a high level of productivity and accuracy in delivery. Similarly, the use of smart labels in the retail industry aids in enhancing inventory management and product information which in turn results in advanced data warehouse management.

Moreover, the rising demand for safety measures against theft, loss, counterfeiting, and shoplifting across the globe is expected to register significant adoption of smart labels in various industry verticals. The aforementioned are major factors expected to boost the growth of the global smart labels market in the coming 10 years.

In addition, increasing the adoption of smart labels in the retail industry for optimization and reducing labor costs by reducing the number of handheld scanners is another factor expected to support the growth of the target market.

Smart labels are reliable and offer easy real-time tracking solutions coupled with reduced tracking time and human intervention.

In addition, a smart label is currently a single product that can be used instead of multiple existing technologies to offer automatic identification of various products, brands, items, and many more in various industries across the globe. These factors are expected to support the growth of the global smart labels market in the near future.

Furthermore, increasing demand for smart labels in logistics, increasing technological advancements in printed electronics, and the rising emergence of technologies such as electronic shelf labels, dynamic display labels, and others are expected to create high revenue opportunities for players in the target market.

However, the high cost associated with smart label integration and the high complexity associated with device interoperability and technologies is major factors expected to restrain growth of the global market to a certain extent.

Global Smart Labels Market: Segment Analysis

In the technology segmentation, the radio frequency identification (RFID) labels segment is expected to account prominent revenue share in the global market, owing to the high installation of RFID tags and readers in various industries across the globe.

Global Smart Labels Market: Regional Analysis

On the basis of region, the global smart labels market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these regions the market in the Asia Pacific is expected to register the highest CAGR in the global market, owing to high demand for smart solutions and the increasing adoption of smart labels in various sectors such as healthcare, retail, and manufacturing in emerging countries in the region.

Whereas, defeating counterfeiting operations by installing smart labels and increasing utilization of digital technology and smart devices are major factors expected to register significant revenue growth in the North American market followed by the market in Europe.

Global Smart Labels Market Segmentation:

Segmentation, by Technology:

• Sensing Labels
• Electronic Shelf Labels
• Near Field Communication (NFC) Tags
• Electronic Article Surveillance (EAS) Labels
• Radio Frequency Identification (RFID) Labels

Segmentation, by End-Use Industry:

• Retail
• Logistics
• Healthcare
• Automotive
• Manufacturing
• Fast-Moving Consumer Goods (FMCG)
• Others (Aerospace, Construction, Postal Services, etc.)

Segmentation, by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa