Global Smart Labels industry is projected to reach 16594.49 million USD by 2025
Published Date: 2018/10/19
A smart label is an item identification slip that contains more advanced technologies than conventional bar code data. The most common enhancements in smart labels are EAS Labels, RFID Labels, Sensing Labels, Electronic Shelf Labels, NFC Tags, etc.
The Smart Labels industry was 5052.54 million USD in 2017 and is projected to reach 16594.49 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of 16.03% between 2017 and 2025. The market is driven by various end-user industries, such as automotive, healthcare & pharmaceutical, logistic, retail, manufacturing, etc. as the downstream consumption usually follows with developed and rapid economic growth areas, such as BRICS, the developed areas’ company prefers investing to underdevelopment regions these years.
The key players are Checkpoint Systems (CCL), Avery Dennison, Sato Holdings Corporation, Tyco Sensormatic, Smartrac, SES (imagotag), Zebra, Fujitsu, Honeywell, TAG Company, Paragon ID, Century, Pricer, Alien Technology, Invengo Information Technology, Multi-Color Corporation, Samsung, E Ink, Displaydata and so on.
Increase in demand for effective anti-theft devices, owing to security concern of the enterprises contribute to the significant rise in the demand for the global smart labels industry.
The global smart labels market has witnessed an increase in adoption in the packaging industry, owing to the ability to provide a detailed information to the customers about products with the use of digital technology and smart devices. In addition, increase in demand for global smart labels market is driven by its ability to provide real-time visibility of the product and rise in demand for effective anti-theft devices, owing to security concerns. Moreover, significant rise in consolidated industries and technological advancements associated with the use in various applications, such as healthcare, & pharmaceuticals, logistics, retail inventory, food & beverages, and others, have further boosted the growth of global smart labels market.
The Smart Labels market is characterized by the presence of many vendors. These vendors are increasingly competing against each other based on factors such as access to raw materials, economies of scales, product innovations, and ability to recycle as the cost of raw materials is very high. Vendors in Smart Labels market are focusing on gaining faster access to the raw materials and lowering the manufacturing costs of Smart Labels. They are also focusing on customization of products as per end-user industries.
Significant and lasting barriers make entry into this market difficult. These barriers include, but are not limited to: (i) product development costs; (ii) capital requirements; (iii) intellectual property rights; (iv) regulatory requirement; and (v) Transitions’ unfair methods of competition.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.
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