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Smart Labels Market

Packaging, Construction, Mining & Gases

MarketsandMarkets projects that the smart labels market will grow from USD 4.45 Billion in 2016 to USD 10.03 Billion by 2021, at an estimated CAGR of 17.65%. The market for smart labels is growing due to growth in industries such as retail, healthcare, and manufacturing, and rise in demand of automated labels such as RFID and EAS. The emerging economies such as India, South Africa, and Brazil possess a great potential for the smart labels market.

This market is segmented on the basis of technology, component, end-use industry, and application. In terms of technology, RFID labels held the largest market share, in terms of value, while dynamic display labels were projected to grow at the highest CAGR. The retail & inventory tracking segment accounted for the largest share in this market, in terms of both, volume and value, among all applications. The components segment was dominated by batteries.

In terms of end-use industry, the market is segmented into retail, logistics, manufacturing, healthcare, and others. The healthcare segment is projected to grow at the highest rate, during the forecast period. In terms of application, the market is classified as electronics and IT asset, equipment, retail & inventory tracking, pallets, and perishable goods. The perishable goods segment is projected to be the market leader during the forecast period.

In terms of region, the market for smart labels is segmented into North America, Europe, Asia-Pacific, and Rest of the World. The Asia-Pacific region is projected to grow at the highest CAGR among all the regions by 2021. This is mainly due to emerging economies in China and India and the growing industries such as healthcare, retail, and manufacturing.

Smart Label Market

There few restraints that influence the smart labels market are lack of unformal standards as there are different standards developed by American National Standards Institute (ANSI) and International Organization for Standardization (ISO) for RFID labels.

The strategy of new product launches was majorly adopted by most of the players in this market. Companies such as Avery Dennison Corporation (U.S.), CCL Industries, Inc. (Canada), Checkpoint Systems, Inc. (U.S.), Smartrac N.V. (The Netherlands), Zebra Technologies Corporation (U.S.), Alien Technology Inc. (U.S.), Sato Holding Corporation (Japan), and Intermec Inc. (U.S.) were the key players who adopted this strategy to increase the reach of their offerings, improve their production capacity, and establish focus on core operations. Companies also emphasized on agreements & partnerships to increase their business operations in the fast-growing regions. The companies such as CCL Industries, Inc. (Canada), Avery Denison Corporation (U.S.), Thin Film Electronics ASA (Norway), Smartrac N.V. (The Netherlands), and Checkpoint Systems, Inc. (U.S.) have a strong product portfolio. Along with the same, these players have a strong distribution network and influencing presence in the developed as well as developing economies.

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