New York, NY, Oct. 04, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Smart Labels Market by Technology (RFID, Electronic Article Surveillance Label, Sensing Label, and Dynamic Display Label), by End-user Industry (Food & Beverage, Healthcare & Pharmaceutical, Automotive, Fast-Moving Consumer Goods (FMCG), Logistics, Retail, and Others), and by Application (Retail Inventory, Perishable Goods, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024”. According to the report, global smart labels market was valued at approximately USD 5.22 billion in 2017 and is expected to generate revenue of around USD 16.29 billion by the end of 2024, growing at a CAGR of around 17.64% between 2018 and 2024.
The major benefits provided by the smart labels are high tolerance, automated reading, rapid identification, reduction in errors, and re-programmability. Increase in the use of smart labeling mainly benefits the manufacturers and service providers, as they can easily track their products and record the information for their inventory management. In addition to this, reduction in labor cost, training cost, and also the time savings are the noteworthy factors positively impacting the market. Increased demand for the security and tracking solutions is the major factor driving the smart labels market growth. Moreover, the growing retail sector is also the strong factor driving the growth of the market. Growing retail sector leads to the rising demand for the smart labels in merchandise and asset tracking. In addition to this, increase in the adoption of smart labels in packaging industry results in the ability to offer detailed data to the customers about the products with the use of smart devices.
Browse through 81 Tables & 25 Figures spread over 110 Pages and in-depth TOC on “Global Smart Labels Market: Type, Technology, Applications, Size, Share and Forecast, 2017 – 2024”.
Request Free Sample Report of Global Smart Labels Market Report @ https://www.zionmarketresearch.com/sample/smart-labels-market
On the basis of technology, the smart labels market is divided into RFID, electronic article surveillance label, sensing label, and dynamic display label. RFID is anticipated to be the dominant sector during the forecast period. The growth is accredited to the features offered by the RFID which include information accuracy, real-time tracking, and automatic data capture, among others. RFID systems are highly preferred to maintain the record for inventory management and supply chain management. RFID is also preferred in different industry sectors such as FMCG and automotive, due to the high traceability feature.
Based on the end-user industry, the smart labels market is categorized into healthcare & pharmaceutical, food & beverage, fast-moving consumer goods (FMCG), logistics, retail, and others. On the basis of application, the smart labels market is fragmented into retail inventory, perishable goods, and others. Perishable goods held a major market share in 2017 and are estimated to remain dominant in the upcoming years. Sensing labels used in this industry leads to the ability to record and track the changes in temperature, oxygen, and other environmental changes. Moreover, smart labels are majorly used in the food & beverage and pharmaceutical industries to monitor the shelf life coupled with the threshold detection.
Download Free Report PDF Brochure: https://www.zionmarketresearch.com/requestbrochure/smart-labels-market
Based on the region, Asia Pacific is projected to be dominant during the forecast period. The Asia Pacific accounted for a major market share in 2017 in terms of revenue and is anticipated to continue the trend in upcoming years. Rapid urbanization coupled with the increasing disposable income in the emerging countries such as India, China, and South Korea has propelled the growth in logistics, FMCG, and retail industries in this region. This, in turn, results in increasing demand for the smart labels in the industries.
Europe is anticipated to show significant market growth. The UK contributes the largest market share in this region. The country holds the largest market for luxury goods, clothing, frozen food, and personal care products which leads to the rising demand for the smart labels. Moreover, the requirement of anti-theft models coupled with the rising security concerns is primarily driving the market growth in this region.
Browse the full "Smart Labels Market by Technology (RFID, Electronic Article Surveillance Label, Sensing Label, and Dynamic Display Label), by End-user Industry (Food & Beverage, Healthcare & Pharmaceutical, Automotive, Fast-Moving Consumer Goods (FMCG), Logistics, Retail, and Others), and by Application (Retail Inventory, Perishable Goods, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/smart-labels-market
North America market is estimated to have a considerable market share. The growth is attributed to the advancement in the technology in various sectors such as pharmaceuticals, food & beverages, logistics, and others. Moreover, rising security concerns of the enterprises have also contributed to the market growth in this region.
The global smart labels manufacturers, vendors, and service providers include Sato Holdings Corp., Thin Film Electronics ASA, CCL Industries, Inc., Alien Technology Inc., Checkpoint Systems, Inc., Avery Dennison Corporation, Invengo Information Technology, Smartrac N.V., Graphic Label, Inc., Zebra Technologies, ASK S.A., Muhlbauer Holding Ag & Co. Kgaa., and Graphic Label, Inc.
Inquire more about this report before purchase @ https://www.zionmarketresearch.com/inquiry/smart-labels-market
This report segments the smart labels market as follows:
Smart Labels Market: Technology Segment Analysis
- Paper & Paperboard
- Foam Plastics
- Plastics and Others
Smart Labels Market: End-user Segment Analysis
- Flexible
- Rigid
- Foam
Smart Labels Market: Application Segment Analysis
- Food & Beverages
- Consumer Usable
- Electronics
- Personal Care
- Medicines
- Others
Smart Labels Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
Related Reports:
- End-of-line Packaging Market: https://www.zionmarketresearch.com/report/end-of-line-packaging-market
- Aseptic Packaging Market: https://www.zionmarketresearch.com/report/aseptic-packaging-market
- Retort Packaging Market: https://www.zionmarketresearch.com/report/retort-packaging-market
- Rigid Packaging Market: https://www.zionmarketresearch.com/report/rigid-packaging-market
- Flexible Packaging Market: https://www.zionmarketresearch.com/report/flexible-packaging-market
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Follow Us LinkedIn: https://www.linkedin.com/company/zion-market-research
Follow Us Twitter: https://twitter.com/zion_research
Blog: http://www.intenseresearch.com | http://www.mrsresearchgroup.com | http://www.marketresearchtrade.com | https://qyresearchgroup.com | http://marketnreports.com | https://zmrnewsjournal.us | http://www.e-marketresearch.com
Contact Us:
Joel John
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com
Blog: http://zmrblog.com