Overview

Smart labels are product recognition slips that comprise advanced technologies than traditional bar code data. RFID tags, EAS (Electronic Article Surveillance) tags, and QR codes are the most common developments in smart labels. The smart labels are manufactured by the combination of three technologies including optical character recognition, radio code, and plain text. Based on their various application, smart labels can be categorized into printable labels, chip labels, and electronic labels. However, with the development of smart labels, they can be used to identify sour food in the refrigerator. Many industries have already adopted this technology due to its ability to access the information instantly.

Key Market Drivers and Restraints: 

Smart labels improve inventory management

Rising use of smart labels in various industries such as retail, logistics, and transportation in order to gain a high level of accuracy and productivity in business operation. Smart label adoption in the retail sector improves product and inventory management which in turn results in advanced data warehouse management. Smart label adoption in the retail sector further optimizes the process and reduces labour cost by decreasing the number of handheld scanners. Further, increasing demand for safety measures against loss, shoplifting, theft, and counterfeiting around the world is anticipated to drive the global smart labels market growth over the forecasted period.

Increasing adoption of smart labels for the enhancement of product branding

The use of smart labels in the packaging industry has created a significant opportunity for marketers in the near future. Most of the product brands are turning to package as a way to give consumers improved experiences in the store, at home and online. Smart labels develop connected packaging that brings the interaction and engagement of the online world to the consumer moment, which ultimately drives the product purchasing. Packages in a home containing smart labels can enhance brand engagement and increase product interactions.

Key End-User:

Healthcare & pharmaceutical end-user industry holds the largest market share

Retail, food & beverage, healthcare & pharmaceutical, automotive, transportation & logistics, and others are some of the end-use industries analysed in this market. Among these, the healthcare & pharmaceutical industry is expected to have a significant market share during the analysis period. In order to become smart, hospitals, labs and other supply chain members are adopting smart labelling technologies such as RFID, etc. With the help of RFID, they can track and trace pallets of medication and every blood sample. In addition to this, they can monitor the temperature of heat-sensitive drugs and have real-time visibility into inventory.

Regional Market Scenario:

Asia-Pacific will be the fastest region in terms of CAGR in this market

Geographic regions included in the global smart labels market study are Asia Pacific, Europe, North America, South America, and Middle East & Africa along with its major countries. Among these regions, Asia Pacific is expected to grow significantly in the global market in a given forecasted period. This can be attributed due to the rising necessity for smart solutions and the growing use of smart labels in numerous industries such as manufacturing, retail, and healthcare in countries like China, Japan, and India. Moreover, North America is anticipated to have the largest share in the overall smart labels market. The reason behind this large market share is the rising utilization of smart devices and digital technology.

Key Market Players

•    Muehlbauer Holding Ag & Co.
•    Thinfilm Electronics
•    SATO Holdings
•    Zebra Technologies Corporation
•    Smartrac N.V.
•    Metra Blansko
•    Advantech U.S.
•    Alien Technology Inc.
•    Avery Dennison
•    CCL Industries Inc.
•    Graphic Label, Inc.
•    Invengo Information Technology Co., Ltd.
•    Others

Market Segments: Smart Labels Market

• By Type
  • Near Field Communication (NFC) Tags
  • Electronic Article Surveillance (EAS) Labels
  • Radio Frequency Identification (RFID) Labels
  • Others
• By Application
  • Inventory Management
  • Perishable Goods
  • Packaging
  • Others
• By End-User
  • Retail
  • Food & Beverage
  • Healthcare & Pharmaceutical
  • Automotive
  • Transportation & Logistics
  • Others
• By Region (tentative)
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Russia
  • Asia Pacific
    • China
    • India
    • South Korea
    • Japan
    • South-East Asia
  • The Middle East and Africa
    • Saudi Arabia
  • South America
    • Brazil

Key Sources

•    Industry Associations
•    Patent Websites
•    Company Annual Reports
•    Company Websites
•    Key industry leaders
•    Technology consultants
•    Others

Key Questions Answered

•    What are the key growth regions and countries?
•    What are the important types and technologies being used?
•    What are the market players doing, in terms of research and development?
•    Which are the new applications for this market?
•    What are the integrations happening?
•    What are the recent news, developments, mergers, or large value deals?

Key Stakeholders

•    Subcomponent Manufacturers
•    Communication Equipment Manufacturers
•    Technology Support Providers
•    Original Equipment Manufacturers (OEMs)
•    Software Service Providers
•    Regulatory Authorities
•    Research and Innovation Organizations
•    Technocrats
•    Suppliers and Distributors
•    Other Channel Partners
•    Quality Control Organizations
•    Environmental Authorities