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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Smart Labels 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.
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.
Smart Labels Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global smart labels market attained a value of USD 10.41 billion.
The market is expected to grow at a CAGR of 12.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 30.05 billion by 2032.
The major drivers of the market are growing adoption of smart labels by healthcare and ecommerce industries, and rising disposable incomes.
The adoption of Internet of Things (IoT) technology and introduction of smart labels with built-in alarms to prevent shoplifting and robbery are the key trends guiding the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The leading technologies in the market are radio-frequency identification (RFID), electronic article surveillance (EAS), electronic shelf label (ESL), sensing labels, and near field communication (NFC), among others.
The significant components of smart labels in the market are batteries, transceivers, microprocessors, and memories.
Retail, logistics and transportation, healthcare, food and beverage, aerospace, and data centres and libraries, among others, are the major end uses in the market.
The leading players in the global smart labels market are Avery Dennison Corporation, CCL Industries Inc., Smartrac Technology GmbH, Mühlbauer Group, Checkpoint Systems, Inc, and Zebra Technologies Corp, among others.
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