The latest report by IMARC Group, titled “Smart Labels Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” offers a comprehensive analysis of the industry, which comprises insights on smart labels market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global smart labels market witnessed strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 14% during the forecast period (2021-2026).
Smart labels refer to transparent configured transponder tags that are embedded with an antenna, chip and bonding wires for product authentication. Some of the commonly utilized smart labels include barcodes, electronic article surveillance (EAS) tags and QR codes. Generally used to provide product safety assurance, they provide pertinent information about the products, including manufacturing and expiration dates, ingredient details, and nutritional contents.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Smart Labels Market Trends:
The global market is primarily driven by significant growth in the retail sector. Along with this, the increasing incidences of shoplifting and thefts across the globe have encouraged numerous companies to adopt smart labels as it provides real-time visibility of the products. Furthermore, the widespread adoption of these labels across the food and beverages and healthcare sectors for asset tracking is further providing an impetus to the market growth. Some of the other factors contributing to the market growth include extensive research and development (R&D) activities conducted by key players.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Avery Dennison Corporation
- CCL Industries Inc
- Checkpoints Systems, Inc
- Zebra Technologies Corporation
- Intermec, Inc.
- Invengo Information Technology Co Ltd
- Sato Holdings Corporation
- Thin Film Electronics ASA
- Smartrac N.V.
- Muehlbauer Holding AG
Smart Labels Market Segmentation:
Our report has categorized the market based on region, type, component type and end use industry.
Breakup by Type:
- RFID
- Electronic Article Surveillance
- Electronic Shelf Label
- Sensing Label
- Near Field Communication
Breakup by Component Type:
- Batteries
- Transceivers
- Microprocessors
- Memories
- Others
Breakup by End-user:
- Retail
- Logistics and Transportation
- Healthcare
- Food and Beverage
- Aerospace
- Data Centers
- Libraries
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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