Smart Labels Market Trends, Segments, Regional Analysis and Key Players: Avery Dennison Corporation, CCL Industries, Toshiba Global Commerce Solutions, Muhlbauer Holding Ag & Co. KGaA., Smartrac N.V., Thin Film Electronics ASA, Advantech US, Zebra Technol

Smart Labels Market is segmented on the basis of components, technology, applications, and end-use industry. Based on components used, the market is segmented into transceivers, batteries, memories, microprocessors, and antenna. Memories are projected to exhibit considerable growth, owing to its increasing use in asset tracking and inventory management.

Smart Labels Market size is anticipated to witness growth during the forecast period, owing to the increase in applications in retail, FMCG, healthcare, construction, automotive, and packaging. Growing need for streamlined and automated operations in businesses is expected to foster smart labels market growth.

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Technological advancements such as simultaneous identification, ability to reprogram and real-time tracking, in addition to growing integration of smart labels with varied applications in retail and logistics are expected to fuel smart labels market growth. It enables high tolerance capability and automated interpretation from distance that helps in eliminating error and enhancing efficiency. Growing penetration of smart labels in assets and merchandises tracking further contributes to the industry growth.

Installation cost associated with the smart labels market coupled with the lack of constant standards and low mechanical susceptibility is anticipated to restrain its growth over the future. For instance, different standards are developed for RFID labels by International Organization for Standardization (ISO) and American National Standards Institute (ANSI).

Smart labels market on the basis of applications segments are equipment, electronic & IT asset, pallet, retail & inventory tracking, security access, perishable goods, smart wrist bands for patient care, and reusable goods. Perishable goods segment is expected to gain traction over the future in the smart labels market. Sensing labels are used in this industry, owing to its ability to track changes in oxygen, temperature, and other environmental factors. These are being widely used in shelf-life monitoring and threshold detection in pharmaceutical and food & beverage industries.

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Smart labels market end-use industries that uses this technology include retail, FMCG, logistics, automotive, manufacturing, aerospace, healthcare, postal services and construction. Increasing usage of this technology in spoil detection of test samples, hospital goods, drugs, and medical equipment is expected to drive demand across healthcare sector.

Asia Pacific is anticipated to be the fastest growing smart labels market over the forecast timeframe, owing to the rapid industrialization, low labor costs, and increasing FDI opportunities in the retail sector. The growth is attributed to changing economic conditions, rapid urbanization, increasing per capita income, and flourishing industries in automotive and food & beverages sector.

Players in the smart labels market include Avery Dennison Corporation, CCL Industries Inc., Toshiba Global Commerce Solutions, Inc., Muhlbauer Holding Ag & Co. KGaA., Smartrac N.V., Thin Film Electronics ASA, Advantech US, Zebra Technologies, Metra Blansko, Graphic Label, Inc., Invengo Technology BV, and Checkpoint Systems.

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