Global Smart Label Market Comprehensive Study: Forecasted Market Size And Growth Rate | Avery Denison Corporation, CCL Industries Inc., Checkpoint Systems Inc., Thin Film Electronics ASA, Alien Technology Inc., Zebra Technologies Corporation, SATO Holding

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2681

The Business Research Company offers in-depth market insights through Smart Label Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The smart label market size has grown rapidly in recent years. It will grow from $9.38 billion in 2023 to $10.91 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to retailer demand for efficiency, supply chain optimization, cost reduction strategies, increased counterfeit concerns, data analytics integration.

The smart label market size is expected to see rapid growth in the next few years. It will grow to $18.9 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to brand authentication, consumer demand for sustainability, e-commerce growth, personalized consumer experiences, health and safety concerns, connected packaging ecosystem. Major trends in the forecast period include iot integration, qr code proliferation, anti-counterfeiting measures, product innovations, mobile app integration.

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Market Segmentation:
The smart label market covered in this report is segmented -

1) By Component: Batteries, Transceivers, Microprocessors, Memories, Other Components
2) By Labeling Technology: Radio Frequency Identification (RFID), NFC Tags, Electronic Article Surveillance (EAS), Sensing Labels, Electronics Shelf Labels
3) By Printing Technology: Flexographic Smart Labels, Digital Smart Labels, Gravure Smart Labels, Screen Smart Labels
4) By Application: Retail Inventory, Perishable Goods
5) By End-User: Retail, Healthcare And Pharmaceuticals, Food And Beverages, Consumer Electronics, Supply Chain and Logistics, Transportation, Other End Users

Major Driver - Surging Demand From The Food And Beverage Industry Propels The Smart Label Market
The increasing demand from end users such as the food and beverage industry is expected to boost the growth of the smart label market going forward. 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, as a result, increasing demand from end users such as the food and beverage industry increases the demand for the smart label market. For instance, in Febuary2023, according to the Food & Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, the exports of food and drink increased by 31% in 2022 compared to 2021. Additionally, the food and beverages industry have a turnover of US$3.52billion (£10.3 billion) in 2022, accounting for 33% of total Scottish manufacturing. Therefore, the increasing demand from end users such as the food and beverage industry is driving the growth of the smart labels market.

Competitive Landscape:
Major companies operating in the smart label market report are Avery Denison Corporation, CCL Industries Inc., Checkpoint Systems Inc., Thin Film Electronics ASA, Alien Technology Inc., Zebra Technologies Corporation, SATO Holdings Corporation, Invengo Technology Pte. Ltd., Advantech Pvt. Ltd., Muehlbauer Holding AG & Co. KGaA, Smartrac N.V., Multi-Color Corporation, Intermec Inc., SML Group Limited, CGL Industries Inc., Centre for Process Innovation, PRAGMATIC SEMICONDUCTOR LIMITED, ShipBob Inc., UnitedMasters, Accroma Labtec Ltd., Smart Planet Technologies Inc., Adrich, Uwitechnology Ltd., Cypak AB, General Mills Inc., PepsiCo Inc., Mondelez International, The Coca-Cola Company, Unilever plc, William Frick & Company, Honeywell International Inc., Scanbuy Inc.

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Top Trend - Technological Advancements Reshape The Landscape Of The Smart Label Market
Technological advancements are a key trend gaining popularity in the smart label market. 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, a 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 such as location and temperature to a centralized dashboard. This technology keeps the label battery lightweight and optimized battery life that lasts up to 6 months.

The Table Of Content For The Market Report 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
…..
27. Smart Label Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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