Smart Labels: Next Big Thing in Packaging Powered by the Internet of Things | Share, Growth, Trends

What are Smart Labels?- Everything You Need to Know!!!

A IoT based smart label refers to an item or product identification slip containing ICT technologies which are not present in conventional bar code data. IoT based Smart Labels enables the consumers to get equipped with additional details with regards to wide range of beverage, food, household, pet care, and personal care products.

The intelligent labels are made up from paper, fabrics or plastics and used as, electronic labels, printed labels, or chip labels. The smart labels enables consumers to gain access to information with their preferred method such as visiting a website and scanning the product codes with the help of smartphone. The high tech tags and labels helps to increase accuracy and productivity along with the enhancement in the product information and inventory management.

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Major Growth Drivers:

Manufacturers and logistics service providers can easily track their products and maintain data for their inventory management
Reduced risk from theft and counterfeiting among retailers
Reduction in training cost, labor cost and the time savings
Automated Reading
High Tolerance
Re-Programmability
Rapid Identification
Reduction in Errors

Key Challenges:

High cost involved in replacing e-display
Compatibility of the smart labels with its interfacing devices

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Technology Used:

RFID, Electronic Article Surveillance, Electronic Shelf Labels, Near Field Communication Tags, and others. The major application for IoT based smart label is to maintain entire device over internet, use of cloud database, and use of sensors for self-controlled temprature.

IoT Component:

Sensors, Gateway and Cloud

Opportunity for Investors:

The IoT based smart label is the next big thing for many sectors especially for packaging industry. The unique features makes smart label a huge opportunity for investors and manufacturers. Rise in industry consolidation and growing technological proliferation of IoT based smart label products, coupled with their usage in various applications is major factor fueling growth of this industry.

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Geographically, the global smart labels industry market is segmented into seven main regions, namely- Western Europe, Eastern Europe, North America, Latin America, Asia Pacific excluding Japan, the Middle East & Africa, and Japan. The historical growth of the Latin America and Asia Pacific economies has been a feature of the 21st century. This economic growth has, to a degree, been another driver for the high levels of growth witnessed in the global smart labels industry market.

Among all the regional markets, Asia Pacific is expected to witness the highest market growth in the coming years. The Middle East & Africa is also anticipated to witness a significant growth in the coming years. Also, the Wal-Mart Stores, Inc. has announced to open more than 1,200 retail stores in the Africa region by 2016 end, which is expected to fuel growth of the market for smart labels in the region. North America, followed by Europe, is expected to hold the largest market share in the global smart labels industry market, due to extensive use of smart labels in logistics industries and the manufacturing & retail sector in the region.

Some of the key players covered in this study on the global smart labels industry market are Avery Dennison Corporation, CCL Industries Inc., SMARTRAC N.V., Invengo Technology BV, Advantech US, Muehlbauer Holding AG & Co. KGaA, Thinfilm, ZIH Corp., Metra Blansko, and TOSHIBA Global Commerce Solutions, Inc.

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