Press release
Smart Label Market to grow from market value of USD 5.68 billion in 2017 to a value of USD 11.34 billion by 2023 | Dominant Players - CCL INDUSTRIES INC, CHECKPOINTS SYSTEMS, INC., ZEBRA TECHNOLOGIES CORPORATION, INTERMEC, INC., SATO HOLDINGS CORPORATION,
Market Analysis:United Kingdom to hold the Largest Market Share in Europe
The country is one of the largest markets in the frozen food market. The consumer’s inclination and spending on frozen foods, in both retail and foodservice sectors coupled with the Food Information for Consumer Regulations in the country, has augmented the global smart label market.
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The emergence of Internet of Things (IOT) is expected to be a key opportunity for the growth of the global smart label market, during the forecast period. As enterprises across the world are setting up more and more direct selling chains all over, the importance of security systems against theft and counterfeiting is paramount these days. These smart labels are not just used as an anti-theft device/tag, but smart chips are installed within the labels enabling the tracking of location as well. Healthcare is expected to witness the fastest growth during the forecast period.
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Market Segments:
Smart Label Market is segmented by:
1. Technology: Electronic Article Surveillance (EAS), RFID, NFC, Electronic shelf labels (ESL)
2. End-user: Retail, Healthcare & Pharmaceutical, Logistics, Manufacturing, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa
Key Developments In The Market
• December 2017 - CCL Industries signed an agreement to acquire Innovia for USD 1.13 billion, a specialty and global producer of co-extruded, bi-axially oriented polypropylene films for labels, packaging & security applications.
• June 2017 - Avery Dennison Corporation acquired Yongle Tape Company Ltd., a manufacturer of specialty tapes and related products in a variety of industrial markets.
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