Asset Tags Market Size, Share, Trends and Forecast To 2032

Asset Tags Market Insights

The global asset tag market had a value of USD 1.92 billion in 2023, and Zion Market Research forecasts that it will increase to USD 3.32 million by the end of 2032. The market is expected to grow with a CAGR of 5.60% during the forecast period.

This study provides an analysis of the growth drivers, growth restrictions, and influence on demand that are associated with the Global Asset Tags Market over the time of forecasting. Additionally, it will assist in navigating and investigating the possibilities that are becoming available in the Asset Tags Market.

Asset Tags Market: Overview

The asset tags are used as a serial number or as a barcode so that the movement of the products or assets can be tracked. latest trends in the market have increased the demand for various products that need to be transported to various places and to different continents. In this scenario, the asset tags prove helpful to keep the consumer updated about the location of their asset.

Asset Tags Market: Facts

The Redpine Signals have developed WiSeMote asset tags. This tag is available in single band and dual band. The tags can also function in the Redpine RPX mode, in which Redpine provides the overall location services. The tags also contain telemetry information and an emergency button that is helpful in configuring notifications and system alarms.

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Asset Tags Market: Segmentation

The global market for asset tags is fragmented into its raw materials, label type, size, and end-use.

Based on the raw materials, the global market is segregated into metal asset tags and plastic asset tags.

The metal asset tags are further sub-segmented according to their usage, such as for curved surfaces and for flat surfaces.

Based on the label type, the market is categorized into numbers and barcodes.

Based on the size, the market is divided into 0.625" x 1.75", 0.5" x 1.75", 0.5" x 1.25", 1.25" x 2", 0.75" x 2", 0.75" x 1.5", and others.

Based on the end user, the market is bifurcated into property ID tags, hospitals, anti-theft labels, school bar codes, churches, and others.

Asset Tags Market: Growth Factors

The rise in the requirement for tracking and identifying products has increased the demand for asset tags. The introduction of the asset tags has eliminated the need to stand in long lines in retail stores in order to identify the products. With the help of the laser scanners, the products can be identified quickly, making them more user-friendly. Due to growing globalization and e-retail platforms, it is becoming increasingly important to track the sources of the products' supply and purchases, which is why manufacturers and retail stores are favoring asset tags.

Millions of products are being manufactured by OEMs, which increases the requirement for a speedy identification process of the products so that they can be repaired and maintained. There are factors that will limit the growth of the market, including the sale of the products by consumers after a certain period of usage, and there are numerous second-hand buyers who do not prefer buying products that have asset tags.

Asset Tags Market: Report Scope

Asset Tags Market: Regional Analysis

The region that is dominating the asset tags market is North America. There is speedy market growth in the Asia-Pacific region owing to factors such as the huge consumer base and the growing number of retail stores. Owing to a mature market and consumer base, the market is showing favorable growth in the Western European region. Owing to the increasing number of emerging economies, the Asia Pacific region will develop significantly in the asset tag market in the coming years.

Asset Tags Market: Competitive Players

The key market players that are involved in the asset tags market include

• Alpha Signs
• Premier Holotech
• AB&R
• Redpine Signals
• Custom Labels
• Brother International Corporation
• Labels China.

The Global Asset Tags Market segments are as follows:

By Materials

• metal asset tags
• plastic asset tags.

By Label type

• numbers
• barcodes.

By size

• 0.625" x 1.75"
• 0.5" x 1.75"
• 0.5" x 1.25"
• 1.25" x 2"
• 0.75" x 2"
• 0.75" x 1.5"
• others.

By End User

• property ID tags
• hospitals
• anti-theft labels
• school bar codes
• churches
• others.

Asset Tags Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provide

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonies to companies in order to fortify their foothold in the market.