24th January 2020 – Smart
Label Market research report interprets definition, an investigation of
significant progress in the market. It provides overall industry survey,
product description, wide array of applications, top players, and development
forecast. It enhances understanding about that market along with new business
trends.
The global smart label market size is
expected to value at USD 16.12 billion by 2025. The market is subject to
witness a substantial growth due to the growing implementation of smart label
identification methods over conventional labeled identification method. Other
factors responsible for the sustained growth of smart label market include cost
effectiveness and wide accessible range of products.
The rising demand of smart labels from
various sectors such as hospitals, surgical clinics, treatment centers, and
various labs, in order to achieve precise results and consistent performance,
is driving the market growth. Increasing popularity of smart labeling technique
among end-users is one of the major driving factors for the expansion of the
smart label market, in the recent years. Globally, the smart label industry is
predicted to grow at higher CAGR in the forecast period, providing numerous
opportunities for market players to invest for research and development in the
market
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Smart labels are designed in order to
store, monitor and transmit digital information that helps in reducing overall
tracking time. Smart labels help to minimize human intervention and errors
during various industrial process, owing to their high-end precision and
efficiency. The smart label offers advanced solutions for challenges such as
theft and shoplifting faced by retailers and manufacturers by delivering
anti-theft and anti-counterfeit system.
The demand for identification and
diagnostic of compound and bio-chemical substances on account of vast number of
fields such as drugs, atmospheric analysis, bio-technology, health care and
food analysis, military and residential airborne organic and compound agent
testing and real time compound and biological manufacturing process monitoring,
is gaining a higher traction.
The smart label industry is broadly
categorized into six major segments based on the application type such as
retail sector, logistic industry, Fast Moving Consumer Goods (FMCG) industry,
manufacturing sector, automotive industry, and healthcare & pharmaceutical
industry. The retail sector is considered as one of the fastest growing segment
in the smart label industry with substantial revenue generation in the last few
years. Growing popularity of smart labels in the retail segment is attributed
to the increasing incidences related to shop theft and shoplifting. The
healthcare & pharmaceutical segment has also witnessed substantial growth
owing to the rising adoption in spoil detection of hospital goods, test samples,
medical equipment, and drugs.
The smart label market is divided by
region as North America, Europe, Asia-Pacific, Latin America and Africa. North
America has shown major growth in recent years owing to the rise in the
implementation of latest technologies in labeling industry, prevalence of
incidences involving shop theft and shoplifting, and existence of
well-established industrial infrastructure. Asia-Pacific region is predicted to
hold major market share in the smart label industry with massive growth in
forecast period.
Countries such as India, China, Japan
and Singapore are leading the Asia-Pacific market with rapid urbanization,
rising disposable income, growing economic trends, and significant investment
by leading industry players considering potential growth opportunities in the
region. The key players in the theft and shoplifting are Avery Dennison Co.,
CCL Industries, Inc., Zebra Technologies Co., Alien Technology, Inc., Intermec,
Inc., Checkpoint Systems, Inc.
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