October 30, 2019
According to the latest study titled ‘Global Smart Label Market: World Market Review By Technology (RFID, NFC, EAS, ESL), By Application, By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) - By Application (Food & Beverage, Healthcare & Pharmaceutical, Automotive, Retail, Logistics), By Region (North America, Europe, APAC, ROW), By Country (US, Canada, UK, Germany, France, Netherlands, India, China, Japan, South Korea)’ available with Market Study Report LLC, the global smart label market is expected to grow with a CAGR of 7.64% through 2024.
Smart label is an identification tag that integrates technology and help consumers gain access to information of a product either by visiting the website or scanning the code of the product through smartphones. The major benefit provided by these smart labels are automated readings, rapid identification and reduction in any kind of error related to the product. The increase in demand for security and tracking of products is one of the main factors driving the growth of global smart label market.
The study examines the global smart label market in detail and provides information on the revenue accrued by each segment. The report also identifies and analyses the emerging trends in tandem with the driving factors, challenges, and the numerous growth opportunities prevailing in smart label market.
Based on technology, the smart label market is segmented into near field communication, radio frequency identification, electronic article surveillance and electronic shelf labelling. Supported by the emergence of big data and IoT, these technology segments in the smart label market have been witnessing a remarkable growth rate, claims the report. While based on application spectrum, the industry is divided into healthcare and pharmaceutical, food and beverage, automotive, logistics, retail, and others.
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Considering the geographical landscape, the global smart label market is fragmented into regions, namely, Europe, North America, APAC, and rest of the world. Among the regions mentioned, North America is said to have been the dominant growth ground, having accounted for the largest percentage of the global smart label market share in 2019, claims the report.
Some of the vendors that operate in smart label market are Avery Dennison Corporation, Alien Technology, Thin Film Electronics, CCL industries, Intermec, Zebra Technologies Corporation, Smartrac, Nedap, Sato Holdings, and Invengo Information Technology.
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