Smart Labels Market share forecast to witness considerable growth from 2016 to 2024

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Smart Labels market share research by
applications and regions for 2016-2024 Global
Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
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Overview of Smart Labels Market

• The smart labels market is segmented on the basis
  of components, technology, applications, and
  end-use industry. Based on components used, the
  market is segmented into transceivers, batteries,
  memories, microprocessors, and antenna. Memories
  are projected to exhibit considerable growth,
  owing to its increasing use in asset tracking and
  inventory management.
• Smart Labels Market size is anticipated to
  witness growth during the forecast period, owing
  to the increase in applications in retail, FMCG,
  healthcare, construction, automotive, and
  packaging. Growing need for streamlined and
  automated operations in businesses is expected to
  foster smart labels market growth.
• The technology provides benefits such as simple
  functioning and reliability. Some other
  advantages include prevention against
  counterfeiting and theft protection, which are
  expected to escalate the smart labels market
  growth. Companies are increasingly investing to
  improve anti-theft systems to reduce inventory
  damage and revenue loss due to theft and shop
  lifting.

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• Counterfeit is one of the serious issues, which
  leads to brand deterioration poor product
  performance and threatens consumer safety.
  Increasing focus of the industries to reduce
  counterfeit problems is anticipated to impact
  smart labels market demand positively,
  particularly from manufacturing and automotive
  sectors.
• Smart label is an identification slip that
  contains advanced technologies than legacy bar
  codes. The enhancements in smart labels include
  specifically configured RFID tags and electronic
  article surveillance tags.
• These are configured with antenna, chip, and
  bonding wires, which help in tracking of goods
  and are also designed to record, receive, and
  transmit digital information, which reduces
  tracking time significantly. Growing industrial
  use of this technology minimizes human
  intervention, reduce errors and, increase
  efficiency accuracy, thus propelling smart
  labels market development.

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• Technological advancements such as simultaneous
  identification, ability to reprogram and
  real-time tracking, in addition to growing
  integration of smart labels with varied
  applications in retail and logistics are expected
  to fuel smart labels market growth. It enables
  high tolerance capability and automated
  interpretation from distance that helps in
  eliminating error and enhancing efficiency.
  Growing penetration of smart labels in assets and
  merchandises tracking further contributes to the
  industry growth.
• Installation cost associated with the smart
  labels market coupled with the lack of constant
  standards and low mechanical susceptibility is
  anticipated to restrain its growth over the
  future. For instance, different standards are
  developed for RFID labels by International
  Organization for Standardization (ISO) and
  American National Standards Institute (ANSI).
• Smart labels market on the basis of technology,
  are classified into RFID, EAS, Sensing, NFC tags,
  and dynamic display or electronic shelf. RFID is
  projected to grow fast during prediction period,
  owing to its features such as information
  accuracy, automatic data capture, flexibility to
  be applied on several substrates, and real-time
  tracking. RFID systems are highly chosen to
  maintain synchronized inventory management and
  supply chain management systems.

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• These are used in variety of industry sector such
  as automotive and FMCG, due to high traceability.
  RFID, combined with asset tracking software, can
  synchronize process of repairs and maintenance
  for organizations. Dynamic display in the smart
  labels market will also witness significant
  growth, owing to its ability to display product
  information and pricing for accuracy and easy
  price management.
• Smart labels market on the basis of applications
  segments are equipment, electronic IT asset,
  pallet, retail inventory tracking, security
  access, perishable goods, smart wrist bands for
  patient care, and reusable goods. Perishable
  goods segment is expected to gain traction over
  the future in the smart labels market.
• Sensing labels are used in this industry, owing
  to its ability to track changes in oxygen,
  temperature, and other environmental factors.
  These are being widely used in shelf-life
  monitoring and threshold detection in
  pharmaceutical and food beverage industries.
• Smart labels market end-use industries that uses
  this technology include retail, FMCG, logistics,
  automotive, manufacturing, aerospace, healthcare,
  postal services and construction. Increasing
  usage of this technology in spoil detection of
  test samples, hospital goods, drugs, and medical
  equipment is expected to drive demand across
  healthcare sector.

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• Asia Pacific is anticipated to be the fastest
  growing smart labels market over the forecast
  timeframe, owing to the rapid industrialization,
  low labor costs, and increasing FDI opportunities
  in the retail sector. The growth is attributed to
  changing economic conditions, rapid urbanization,
  increasing per capita income, and flourishing
  industries in automotive and food beverages
  sector.
• Players in the smart labels market include Avery
  Dennison Corporation, CCL Industries Inc.,
  Toshiba Global Commerce Solutions, Inc.,
  Muhlbauer Holding Ag Co. KGaA., Smartrac N.V.,
  Thin Film Electronics ASA, Advantech US, Zebra
  Technologies, Metra Blansko, Graphic Label, Inc.,
  Invengo Technology BV, and Checkpoint Systems.
• Smart labels market players are increasingly
  focusing on improving product portfolio and
  production capacity expansion. For instance,
  Checkpoint Systems launched 16 new products from
  2011 to 2016 and signed partnerships and
  agreements with regional players to expand their
  business operations. Smartrac N.V. launched 10
  new products to increase their customer base and
  expand product portfolio. As expansion strategy,
  the company also signed agreements with companies
  in six different countries including South Korea,
  US, and Argentina. Major manufacturers are
  investing in RD to come up with
  application-specific products.

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Methodology

• Market
  research reports Key analytical components

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