Global Smart Label Market

Date: 1 August 2019

According to a research report published by Azoth Analytics in June 2019, the Global Smart Label Market was valued at USD 20112.66 million in the year 2018. Global Smart Label market is expected to grow mainly due to factors such as availability of large number of international brands backed by growing technological advancements with rising number of counterfeit products and theft cases in retail outlets has led to the up surge in the installation, which is enhancing the market growth for Smart Label around the world.

The Azoth Analytics research report titled Global Smart Label has analysed and segmented the Smart Label Market by value (USD Million). The report has also further analysed the Smart Label Market by Technology (Radio Frequency Identification, Near Field Communication, Electronic Article Surveillance and Electronic Shelf Labelling) and By Application (Food & Beverage, Healthcare & Pharmaceutical, Automotive, Retail, Logistics and Others). The Global Smart Label Market has been analysed By Region (North America, Europe, Asia Pacific and ROW) and By Country (United States, Canada, United Kingdom, Germany, France, Netherlands, India, China, Japan and South Korea for the historical period of 2014-2018 and the forecast period of 2019-2024.

Global Smart Label market is primarily driven by increasing disposable income of number of households leading to growing capacity for the consumption of packaged food and beverages coupled with booming e-commerce sales as well as increasing government initiatives to adopt the usage of smart labels to reduce congestion and automate payment collection. Furthermore, invisible integrated tags allows the consumer to interact with more merchandise while maintaining inventory security is also a major factor proliferating the market growth. The demand is growing majorly from emerging nations of Asia-Pacific region. 

The market condition of Smart Labels is witnessing rapid yet buoyant growth in historical period due to increasing awareness among the consumers related to the quality of the product and is projected to witness steady growth due to broadening e-commerce segment. The North America region holds the largest market of Smart Labels owing to large consumer base, growing affluent population backed by rise in food and beverage industry with thriving trend of digital payment modes and it is estimated that North America region will continue to hold largest market share in forecasted period while Asia Pacific region is anticipated to project highest growth rate.

By Product type, the segment of Radio Frequency identification labels is predicted to hold its dominant position in the market in historical and forecast period on the account factors such as rising awareness especially among young age consumers with availability of various features such as inventory management, warehousing, supply chain management with growing usage in number of applications such as healthcare, pharmaceutical, transportation, automotive etc. Moreover, Retail industry has witnessed steady growth of smart labels owning to the growing adoption of mobile payment technology coupled with online wallets and rising disposable income of consumers is further propelling the demand for smart labels across the globe. 

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