Smart Label market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.
The smart label market was valued at USD 7.38 billion in 2019 and is expected to reach USD 15.21 billion by 2025, at a CAGR of 13.7% over the forecast period 2020- 2025.
The Smart Label market is highly competitive and consists of a number of major players: Avery Dennison Corporation, CCL Industries Inc., Checkpoints Systems Inc., Honeywell Productivity and Workflow Solutions (Intermec Inc.), Invengo Information Technology Co. Ltd, Muehlbauer Holding AG & Co., Sato Holdings Corporation, Smartrac NV, Thin Film Electronics ASA, Zebra Technologies Corporation and Others
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Scope of the Report
A smart label is an item identification slip that contains more advanced technologies than conventional bar code data. SmartLabel gives easy and instantaneous access to detailed information about thousands of food, beverage, personal care, household, and pet care products. The most common enhancements in smart labels are QR codes, Electronic Article Surveillance (EAS) tags and specially configured RFID tags.
Key Market Trends
Smart Labels and Tags are being Widely Adopted by the Retail Industry
– With new technologies making their way into the retail sector, the industry is expected to continue its increase in sales. Thus, owing to rising sales and increasing technological developments, smart technologies, including smart labels and tags, are being widely adopted by the retail industry. Smart labels provide detailed information about individual items on store shelves, ensuring authenticity and supply-chain integrity while creating new opportunities for brands to engage with customers. These devices are installed with smart chips enabling the tracking of the product and location.
– The need to control inventory management process where a retailer can keep a track of the stocked goods and make sure there is surplus inventory to avoid the product being out of stock is the major factor driving the demand for smart labels in retail. Inventory management is key to keep costs down and profits up, and enables to stay ahead in the competition. Various RFID systems, such as handheld scanners, point-of-sale scanners, and Electronic Article Surveillance (EAS) gate antennas, are being used for this purpose.
– Furthermore, with increasing cases of shoplifting and customer and employee thefts, the need to manage inventory has risen over the past few years. Thus, to better manage retail stores in the country, inventory management is gaining traction, which creates the need for smart labeling solutions and this trend is being widely accepted by retail stores across the world. However, the advent of RFID technology has offered protection from theft, as items will be tracked when leaving the store and exact product information can be sent directly to security staff.
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North America Holds the Major Market Share
– North America is the largest market for smart labels globally, with the United States accounting for the major share in the region. The huge market in the country can be attributed to the vast presence of retail stores, both small and big.
– The country has been led by retail giants, such as Walmart and others, driving the upsurge in activity, largely contributing to the smart label market growth in the country. Walmart has been putting electronic identification tags on men’s clothing, like jeans, as the world’s largest retailer tries to gain more control over its inventory.
– However, with the increasing use of RFID tags, the country is investing in recovering the loss due to shoplifting. RFID tags attached to garments at the manufacturing phase are not only set off alarms, as shoplifters and employees attempt to leave a store with stolen items, but also providing actionable data for lost items, from the factory to sale.
– Moreover, the US Department of Defense (DOD) and the Food and Drugs Association (FDA) have encouraged the use of RFID technology for supply chain management and for tracking and tracing products. The United States leads the world, with the largest sophisticated population. This has affected the food industry and packaging techniques.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Smart Label Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2025 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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