DUBLIN--(BUSINESS WIRE)--The "Smart Labels Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global smart labels market is projected to grow at a CAGR of 10.09% to reach US$9,795.594 million by 2025, from US$5,501.481 million in 2019.
A rising number of digitally literate people across developing countries is expected to act as a catalyst in the rise of this market. The strict regulations by the governments with respect to the product information to be labeled on the product itself are expected to fuel the demand for smart labels even more.
Rapid technological advancement and rising digitally literate and tech-savvy populations are major demand drivers of the market
Big Data, Internet of Things (IoT), digital printing innovations are some of the illustrations of technological upgradations that are leading the growth of the smart print labels market. The technology provides access and security to the products remotely. Rising sales of electronic goods and growing awareness regarding consumer rights is a major reason for the success of this market. Consumers tend to receive product-related information on an app in their handsets. E-commerce giants such as Amazon, and retail stores like Walmart, are employing smart labels to manage their supply chains and logistics.
Mergers and Acquisitions are also taking place in this market to help companies remain competitive in the rising demand scenario. For instance, in 2019, Avery Dennison acquired an RFID (Radio-frequency identification) Division of Smartrac to supplement its smart tags or labels product portfolio. Vice President of Avert Dennison, Francisco Melo, said, We believe in a future where every physical item will have a unique digital identity and digital life, which will transform the visibility of products throughout the supply chain, all the way to the consumer, helping to improve efficiencies, increase sustainability, and enhance consumer experience.
Geographically, Asia-Pacific is expected to grow rapidly due to the increasing investment by major retail players
Asia-Pacific region is expected to grow at a high CAGR throughout the forecast period owing to the rising sales of packaged food items. Growing FMCG and Healthcare sectors in this region are also expected to boost the sales of smart labels. Also, smart labels can monitor the temperature of the product and alarm off the seller if a threat is detected. This is fueling the market for smart labels in developed and developing economies to reduce wastage of resources.
Key Topics Covered
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Smart Labels Market Analysis, by Technology
5.2. Electronic Article Surveillance (EAS)
5.4. Sensing Label
5.6. Electronic Shelf Label (ESL)
6. Global Smart Labels Market Analysis, by End-user Industry
6.4. Transport & Logistics
7. Global Smart Labels Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. The Middle East & Africa
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Avery Dennison Corporation
9.2. CCL Industries Inc.
9.3. Zebra Technologies Corporation
9.4. Smartrac N.V.
9.5. Alien Technology
9.6. SATO Holdings Co. Ltd.
9.7. Muehlbauer Holding AG
9.8. Invengo Information Technology
9.9. Thin Film Electronics
9.10. Checkpoints Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ysuohj