Advancement in technology has led to a vast impact on various industries including food & beverage, automotive, electronics, packaging, construction, and others. Integration of technology with packaging has introduced advanced and innovative packaging trends such as use of smart packaging techniques, smart labels, digital & 3D packaging printing, high pressure packaging technology, and others. Smart labels, created by Grocery Manufacturers Association (GMA), has gained increase in traction in the packaging industry, owing to the growth in demand for product information by the consumers. These labels are an innovative transparent label associated with digital technology and smart devices that enable consumers to access a detailed information about their products. These are also known as pressure sensitive labels with RFID transponder placed in between the label face stock and its release liner. They provide electronically stored information with the help of these RFID transponders that automatically identifies and tracks the tags attached to the products.
The increase in demand for global smart labels market is also driven by its ability to provide real time visibility of the product and surge in demand for anti-theft devices due to security concerns. Moreover, the prominent rise in consolidated industries and advancement in technological proliferations associated with their significant use in applications, such as healthcare, & pharmaceuticals, logistics, retail inventory, food & beverages, and others, have boosted the growth of global smart labels industry. Thus, the various 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 market in various industries during the forecast period. However, lack of uniform standardized system along with low mechanical susceptibility restrain the growth of global smart labels industry.
The global smart labels market is segmented based on 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.On the basis of application, the market is categorized into retail inventory, perishable goods, and others (pallets tracking, equipment, IT assets, and others). Based on end-user industry, the global smart labels market is divided into retail, health & pharmaceuticals, food & beverage, logistics, fast-moving consumer goods (FMCG), automotive, and others.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). North America accounted for the maximum share in the global market, owing to the widespread use of smart labels in the U.S. Improvement in inventory management system, asset tracking facilities, and consumer good distribution boosted up the retail industry which thereby fueled up the growth of North America smart labels market. Asia-Pacific is expected to witness the highest growth, owing to the rise in potential startups, consumer’s disposable income, increase in urbanization & industrialization along with growth in retail and health & pharmaceutical industries.
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.
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