Smart Label Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Smart Label Market
The smart label market size was valued at USD 10.60 billion in 2022, and the market is now projected to grow from USD 12.09 billion in 2023 to USD 34.97 billion by 2030, exhibiting a CAGR of 16.4% during the forecast period of 2023-2030.
Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the smart label market growth. The COVID-19 pandemic affected a number of businesses globally, including the machinery used in wine production. As a result, there might have been delays in production and delivery, which made it difficult for vineyards to get necessary equipment. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions.
Growing need to strengthen food security and reduce food loss to fuel smart label market growth during projected period. Demand for products is also influenced by strict labeling laws in the food and pharmaceutical industries as well as rising consumer knowledge of labeling on packaged items. The other reasons propelling the market expansion are the growing significance of cutting down on paper waste, conserving resources, and improving operational efficiency across a range of sectors. Food loss is a global challenge. One of the main causes of food loss or waste is customer ignorance of the numerous date markers, like ""use by"" or ""best before,"" that appear on product labels. Various governments, environmental agencies, and corporations are constantly searching for efficient ways to decrease food and packaging waste. One such invention that can help businesses increase sales and profit margins while simultaneously enhancing food safety, product information, and visibility is the smart label.
Smart labels to promote innovation and adoption in a range of industries for product traceability and verification will propel smart label market growth during projected period. Illegal copies or impersonations of genuine things are known as counterfeits. Trademark counterfeiting and large-scale copyright piracy endanger respectable producers and customers. Fake goods are an issue for a variety of manufactured commodities, including medicines, cosmetics, and medical equipment.
Comprehensive Analysis of Smart Label Market
The smart label market and information & communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the technology benefit management industry. These segmentations are methodically segregated by technology and by end users. The technology segmentations include, Electronic Article Surveillance (EAS) Security, RFID, Sensing Labels, Near Field Communication Tag, and QR Code/2D Barcode), By End-User segmentations include Retail, Healthcare & Pharmaceuticals, Food & Beverages, Consumer Electronics, Supply Chain and Logistics, Transportation, and Others (Automotive and Manufacturing.
The North America region lead the smart label market by benefitting a market size of USD 3.73 billion in 2023 due to increasing use of smart labels in a variety of industries and inventory management.
The top players in the market play a crucial role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players include, Avery Dennison Corporation (U.S.), CCL Industries (Canada), Honeywell International Inc (U.S.), Zebra Technologies Corp. (U.S.), Alien Technology, LLC. (U.S.), Multi-Color Corporation (U.S.), Invengo Information Technology Co., Ltd. (China), Insignia Technologies Ltd. (BioCity Glasgow), Covectra, Inc. (U.S.), VCQRU (India) these market players provide a level-playing competitive landscape.
In January 2023, To stop fraud, Toppan, a packaging and printing company, introduced paper-based NFC tag labels. Paper is used for the new NFC tag rather than the conventional PET film.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 16.4% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Technology
Electronic Article Surveillance (EAS) Security
RFID
Sensing Labels
Near Field Communication Tag
QR Code/2D Barcode
By End-User
Retail
Healthcare & Pharmaceuticals
Food & Beverages
Consumer Electronics
Supply Chain and Logistics
Transportation
Others (Automotive and Manufacturing)
By Region
North America (By Technology, By End-User, and By Country)
South America (By Technology, By End-User, and By Country)
Europe (By Technology, By End-User, and By Country)
The Middle East & Africa (By Technology, By End-User, and By Country)
Asia Pacific (By Technology, By End-User, and By Country)
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Smart Label Key Players Market Share/Ranking, 2022
- 5. Global Smart Label Market Size Estimates and Forecasts, By Segments, 2019-2030
- 5.1. Key Findings
- 5.2. By Technology (USD)
- 5.2.1. Electronic Article Surveillance (EAS) Security
- 5.2.2. RFID
- 5.2.3. Sensing Labels
- 5.2.4. Near Field Communication Tag
- 5.2.5. QR Code/2D Barcode
- 5.3. By End-User (USD)
- 5.3.1. Retail
- 5.3.2. Healthcare & Pharmaceuticals
- 5.3.3. Food & Beverages
- 5.3.4. Consumer Electronics
- 5.3.5. Supply Chain and Logistics
- 5.3.6. Transportation
- 5.3.7. Others (Automotive, Manufacturing)
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. South America
- 5.4.3. Europe
- 5.4.4. Middle East & Africa
- 5.4.5. Asia Pacific
- 6. North America Smart Label Market Size Estimates and Forecasts, By Segments, 2019-2030
- 6.1. Key Findings
- 6.2. By Technology (USD)
- 6.2.1. Electronic Article Surveillance (EAS) Security
- 6.2.2. RFID
- 6.2.3. Sensing Labels
- 6.2.4. Near Field Communication Tag
- 6.2.5. QR Code/2D Barcode
- 6.3. By End-User (USD)
- 6.3.1. Retail
- 6.3.2. Healthcare & Pharmaceuticals
- 6.3.3. Food & Beverages
- 6.3.4. Consumer Electronics
- 6.3.5. Supply Chain and Logistics
- 6.3.6. Transportation
- 6.3.7. Others (Automotive, Manufacturing)
- 6.4. By Country (USD)
- 6.4.1. U.S.
- 6.4.2. Canada
- 6.4.3. Mexico
- 7. South America Smart Label Market Size Estimates and Forecasts, By Segments, 2019-2030
- 7.1. Key Findings
- 7.2. By Technology (USD)
- 7.2.1. Electronic Article Surveillance (EAS) Security
- 7.2.2. RFID
- 7.2.3. Sensing Labels
- 7.2.4. Near Field Communication Tag
- 7.2.5. QR Code/2D Barcode
- 7.3. By End-User (USD)
- 7.3.1. Retail
- 7.3.2. Healthcare & Pharmaceuticals
- 7.3.3. Food & Beverages
- 7.3.4. Consumer Electronics
- 7.3.5. Supply Chain and Logistics
- 7.3.6. Transportation
- 7.3.7. Others (Automotive, Manufacturing)
- 7.4. By Country (USD)
- 7.4.1. Brazil
- 7.4.2. Argentina
- 7.4.3. Rest of South America
- 8. Europe Smart Label Market Size Estimates and Forecasts, By Segments, 2019-2030
- 8.1. Key Findings
- 8.2. By Technology (USD)
- 8.2.1. Electronic Article Surveillance (EAS) Security
- 8.2.2. RFID
- 8.2.3. Sensing Labels
- 8.2.4. Near Field Communication Tag
- 8.2.5. QR Code/2D Barcode
- 8.3. By End-User (USD)
- 8.3.1. Retail
- 8.3.2. Healthcare & Pharmaceuticals
- 8.3.3. Food & Beverages
- 8.3.4. Consumer Electronics
- 8.3.5. Supply Chain and Logistics
- 8.3.6. Transportation
- 8.3.7. Others (Automotive, Manufacturing)
- 8.4. By Country (USD)
- 8.4.1. U.K.
- 8.4.2. Germany
- 8.4.3. France
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Benelux
- 8.4.8. Nordics
- 8.4.9. Rest of Europe
- 9. Middle East & Africa Smart Label Market Size Estimates and Forecasts, By Segments, 2019-2030
- 9.1. Key Findings
- 9.2. By Technology (USD)
- 9.2.1. Electronic Article Surveillance (EAS) Security
- 9.2.2. RFID
- 9.2.3. Sensing Labels
- 9.2.4. Near Field Communication Tag
- 9.2.5. QR Code/2D Barcode
- 9.3. By End-User (USD)
- 9.3.1. Retail
- 9.3.2. Healthcare & Pharmaceuticals
- 9.3.3. Food & Beverages
- 9.3.4. Consumer Electronics
- 9.3.5. Supply Chain and Logistics
- 9.3.6. Transportation
- 9.3.7. Others (Automotive, Manufacturing)
- 9.4. By Country (USD)
- 9.4.1. Turkey
- 9.4.2. Israel
- 9.4.3. GCC
- 9.4.4. North Africa
- 9.4.5. South Africa
- 9.4.6. Rest of MEA
- 10. Asia Pacific Smart Label Market Size Estimates and Forecasts, By Segments, 2019-2030
- 10.1. Key Findings
- 10.2. By Technology (USD)
- 10.2.1. Electronic Article Surveillance (EAS) Security
- 10.2.2. RFID
- 10.2.3. Sensing Labels
- 10.2.4. Near Field Communication Tag
- 10.2.5. QR Code/2D Barcode
- 10.3. By End-User (USD)
- 10.3.1. Retail
- 10.3.2. Healthcare & Pharmaceuticals
- 10.3.3. Food & Beverages
- 10.3.4. Consumer Electronics
- 10.3.5. Supply Chain and Logistics
- 10.3.6. Transportation
- 10.3.7. Others (Automotive, Manufacturing)
- 10.4. By Country (USD)
- 10.4.1. China
- 10.4.2. India
- 10.4.3. Japan
- 10.4.4. South Korea
- 10.4.5. ASEAN
- 10.4.6. Oceania
- 10.4.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Avery Dennison Corporation
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. CCL Industries
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Honeywell International Inc
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Zebra Technologies Corp.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Alien Technology, LLC.
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Multi-Color Corporation
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Invengo Information Technology Co., Ltd.
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Insignia Technologies Ltd.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Covectra, Inc.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. VCQRU
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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