Press release
Smart Label Market Analysis 2023: Market Growth Rate, Growth Revenue And Top Opportunities By 2032
Smart Label Market
The Business Research Company's Smart Label Global Market Report 2023 identifies increasing demand from end users such as the food and beverage industry as the major driver for the Smart Label market's growth in the forecast period. The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food. Smart labels add traceability to the product which is important for tracing the source of the food that helps in preventing fake goods.
The global smart label market size is expected to grow from $8.05 billion in 2022 to $9.38 billion in 2023 at a compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The smart label market size is expected to reach $16.47 billion in 2027 at a CAGR of 15.1%.
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Major competitors in the Smart Label market are Avery Denison Corporation, CCL Industries Inc., Checkpoint Systems Inc., Thin Film Electronics ASA, Alien Technology Inc., Zebra Technologies Corporation.
A key trend in the Smart Label market includes technological advancements. Major companies operating in the smart label market are adopting new technologies to sustain their position in the market. For instance, in January 2023, Pod Group a UK-based connectivity solution provider company in partnership with Sodaq, Netherlands-based quality-focused experienced company in the field of the Internet of Things, and Lufthansa Industry Solutions, a Germany-based software company launched a commercial smart label tracking device. This device is used for tracking small and lightweight items in the logistics industry. This smart label uses low-power cellular 5G connectivity standards to send device-related data like location and temperature to a centralized dashboard.
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The Smart Label market is segmented -
• By Component: Batteries, Transceivers, Microprocessors, Memories, Other Components
• By Labeling Technology: Radio Frequency Identification (RFID), NFC Tags, Electronic Article Surveillance (EAS), Sensing Labels, Electronics Shelf Labels
• By Printing Technology: Flexographic Smart Labels, Digital Smart Labels, Gravure Smart Labels, Screen Smart Labels
• By Application: Retail Inventory, Perishable Goods
• By End-User: Retail, Healthcare And Pharmaceuticals, Food And Beverages, Consumer Electronics, Supply Chain and Logistics, Transportation, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Smart Label market.
The Business Research Company's "Global Smart Label Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Smart Label Market Include:
1. Executive Summary
2. Smart Label Market Characteristics
3. Smart Label Market Trends And Strategies
4. Smart Label Market - Macro Economic Scenario
5. Smart Label Market Size And Growth
………………………………………………………….
26. Africa Smart Label Market
27. Smart Label Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Label Market
29. Smart Label Market Future Outlook and Potential Analysis
30. Appendix
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