Global Market Insights, Inc. provides a detailed overview of Smart Labels market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.
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.
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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.
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 industry 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 industry. 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.
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.
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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.