Global Smart Labels Market Is Likely To Grow At A CAGR Value Of Around 9.3% By 2028

The global Smart Labels market was worth around USD 8924.70 million in 2021 and is estimated to grow to about USD 15216.49 million by 2028, with a compound annual growth rate (CAGR) of approximately 9.3 percent over the forecast period. The report analyzes the smart labels market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the smart labels market.

Smart Labels are labels that are enabled by technology and are capable of performing advanced tasks and are equipped with advanced functionality. The smart labels market is projected to rise at a high CAGR over the forecast period owing to the rising demand for smart products and smart technologies across the world.  The increasing use of multiple new technologies has given rise to the popularity of the smart device and is expected to boost demand for smart labels through 2028.

Smart Labels enable features like tracking and provide additional information about the products or services. Increasing technological proliferation, rising use of technology, rapid digitization, and urbanization across the world are some other factors that drive the smart labels market growth through 2028

However, the high costs of smart labels are expected to act as a restraining factor to the smart labels market potential over the forecast period. This will result in slow adoption of smart labels and will hamper the overall market growth in the long turn. Mechanical susceptibility issues that affect the functionality of these devices are also expected to hinder smart labels market growth and smart labels companies are increasing research and development to deal with these issues and optimize their business models.

smart labels sales dropped in 2020 as the COVID-19 pandemic emerged and resulted in a negative growth trend for smart labels market growth. Lockdown restrictions made it worse for the global smart labels marketplace in 2020 and resulted in losses for smart labels manufacturers.

A drop in demand was noticed as international trade was hampered due to the closure of multiple sales and distribution channels under the lockdown restrictions. Moreover, these factors restricted the adoption of new technologies and also had a negative impact on their research and developments.

The smart labels market is anticipated to make a comeback in the post-pandemic era as the world returns to normal and we see a hike in the popularity of smart technologies. Especially North America is expected to be the most prominent region in the global smart labels marketplace.

Browse the full “Smart Labels Market By Technology (EAS labels, RFID labels, Sensing labels, Electronic shelf/dynamic display labels,NFC tags), By End-Use Industry (FMCG, Retail, Automotive, Logistics, Manufacturing, Healthcare, Others (aerospace, library, construction, and postal services)), By Component (Batteries, Transceivers, Microprocessors, Memories, Others (antenna and another basic components)), By Application (Electronics and IT asset, Equipment, Retail & Inventory tracking, Pallet, Perishable goods, Others (reusable goods, security access, patient care smart wrist bands, and general assets)), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/smart-labels-market

The global Smart Labels market is segregated based on technology, component, end use industry, application, and region. Based on end use industry, the global market is distinguished into FMCG, Retail, Automotive, Logistics, Manufacturing, Healthcare, Others (aerospace, library, construction, and postal services). The retail segment will lead the smart labels market growth and account for a substantial share over the forecast period in the global market.

Asia Pacific region is expected to grow at the fastest CAGR in the global Smart Labels industry landscape. Increasing technological proliferation and rapid adoption of cloud technologies and high internet penetration are expected to be the prominent trends in the smart labels marketplace. India, China, and Japan are expected to be the major countries to watch out for in this region. North America will account for a major revenue share and maintain a dominant stance through 2028. The United States will be the most lucrative market in this region owing to the rapid adoption of smart labels and the increasing popularity of smart technologies.

Key players functioning in the global Smart Labels market include 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.)

Recent developments:

• In January 2020, Checkpoint Systems launched a new IoT platform that is capable of enabling Halo an RFID solution built by the company and will help retailers in optimizing their supply chains.  

Global Smart Labels market is segmented as follows:

By Technology

• EAS labels
• RFID labels
• Sensing labels
• Electronic shelf/dynamic display labels
• NFC tags

By End-Use Industry

• FMCG
• Retail
• Automotive
• Logistics
• Manufacturing
• Healthcare
• Others (aerospace, library, construction, and postal services)

By Component

• Batteries
• Transceivers
• Microprocessors
• Memories
• Others (antenna and other basic component)

By Application

• Electronics and IT asset
• Equipment
• Retail & Inventory tracking
• Pallet
• Perishable goods
• Others (reusable goods, security access, patient care smart wrist bands, and general assets)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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