Global Smart Labels Market Growth Analysis - Forecast Trends, Market Size, Share and Outlook (2024-2032)

Global Smart Label Market Size

The global smart labels market size reached a value of USD 10.41 billion in 2023. The market is further expected to grow at a CAGR of 12.5% in the forecast period of 2024-2032 to reach a value of approximately USD 30.05 billion by 2032.

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North America is the world's largest smart labels market, with the United States accounting for the largest share in the region. The massive market in the region can be attributed to the significant presence of retail stores, both small and large. The country was led by retail giants, like Walmart and others, which contributed to an upsurge in operations, primarily leading to the development of the smart label industry. Walmart has put electronic identification tags on men's apparel, including jeans, as the world's largest retailer is seeking to maintain greater control of its inventory.

Properties and Applications

Smart labels work as an innovative label that allows anyone to track product information through their smart devices. These smart labels not just provide information on the product as well as the ingredients used in it, but also provide information on the manufacturer, date of manufacture, and other crucial information. Smart labels are currently used by different industries, like manufacturing, healthcare, automotive, food and beverage, retail, security, FMCG, and others. These smart labels also offer a smart traceability of the product and help to maintain its authenticity.

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On the basis of technology, the smart labels market can be divided into:

• Radio-Frequency Identification (RFID) 
• Electronic Article Surveillance (EAS) 
• Electronic Shelf Label (ESL)  
• Sensing Labels
• Near Field Communication (NFC)
• Others

Based on the component, the industry can be divided into:

• Batteries
• Transceivers
• Microprocessors
• Memories

The end-use sectors of the product can be segmented as follows:

• Retail
• Logistics and Transportation
• Healthcare
• Food and Beverage
• Aerospace
• Data Centres and Libraries
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

The applicability of smart labels in a broad range of vertical sectors is among the key factors boosting the smart labels market development. In the healthcare industry, these labels help to track the use and storage of medications and to regulate the inventory. They are also used in assisted living facilities to monitor the position of patients, their body temperature, and the dampness of dressings or diapers. In addition, these labels provide improved and managed inventory management for the efficient monitoring of products by maintaining the credibility of the supply chain in the logistics industry. In addition, the demand for smart labels among e-commerce companies has been boosted to reduce the reliance on handheld scanners to collect product information, improve time productivity, and reduce training and labour costs. Smart labels containing built-in alarms are useful for preventing robberies and shoplifting incidents. In addition, with the introduction of Internet of Things (IoT) technology, many companies are developing sensors that can be printed on smart labels at a lower cost compared to silicone sensors. These factors are expected to propel the growth of the smart labels market in the coming years.

Competitive Landscape of Smart Label Industry

The report gives a detailed analysis of the following key players in the global smart labels market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Avery Dennison Corporation
• CCL Industries Inc.
• Smartrac Technology GmbH
• Mühlbauer Group
• Checkpoint Systems, Inc
• Zebra Technologies Corp
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Smart Labels Market Report Snapshots

Smart Labels Market Size

Smart Labels Market Analysis

Smart Labels Companies