Inventory Tag Market to Reach USD 7.39 Billion by 2032 with Rising Demand in Asset Monitoring and Tracking

Market Size in 2022: USD 5.20 Billion

Expected CAGR: 4.6%

Leading Market Trends: Advancements in RFID and IoT-based inventory tags for enhanced tracking capabilities

 The global inventory tag market is poised for steady growth, projected to expand from USD 5.20 billion in 2022 to USD 7.39 billion by 2032, driven by increasing demand for effective asset tracking and monitoring solutions across multiple industries. According to a new report by Emergen Research, the adoption of inventory tags has become integral in various sectors, such as manufacturing, automotive, aviation, and retail, as companies seek to improve inventory management, optimize storage, and streamline order fulfillment processes.

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Inventory tags provide practical and efficient solutions for monitoring assets, making them a valuable tool in managing logistics and reducing operational delays. Advances in digital inventory tagging, particularly with Radio Frequency Identification (RFID) and Internet of Things (IoT) technologies, have bolstered their appeal, enabling real-time tracking of assets. This enhanced visibility allows companies in manufacturing, warehousing, and distribution to handle materials more efficiently and control costs effectively. Automated data transmission via RFID and IoT-enabled tags also ensures that organizations have real-time information on their physical assets, significantly improving their logistics systems.

Despite these advantages, the high costs associated with implementing and integrating inventory tags remain a challenge, which could limit growth in certain sectors. Additionally, the complexity of tagging diverse items across multiple settings poses operational challenges for some organizations.

Segment Highlights

Material Segment: Plastic inventory tags are anticipated to lead the market due to their versatility and durability in varied environments. Ideal for both indoor and outdoor settings, plastic tags are resistant to harsh conditions, including moisture, humidity, and temperature fluctuations, making them a preferred choice for warehouse applications and general inventory management.

Application Segment: Inventory tags used for inventory management are expected to experience consistent growth. These tags allow businesses to monitor and track their assets in real-time, giving companies comprehensive oversight of their inventory. By providing detailed information on inventory items, tags play a vital role in supply chain management and help organizations improve operational efficiency.

Regional Insights: North America held the largest share of the global inventory tag market in 2022, largely driven by strong demand from the retail and manufacturing sectors. The region's regulatory requirements, including the Fair Packaging and Labelling Act (FPLA) and the Uniform Packaging and Labelling Regulation (UPLR), further drive the adoption of inventory tags for accurate product labeling. The continued growth of e-commerce in the U.S. is also expected to support market expansion, as online retailers increasingly rely on inventory tags to ensure accurate stock levels and efficient logistics.

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Industry Developments

In a significant industry development, SATO, a global leader in barcode printing and labeling, partnered with Xerafy in August 2021 to introduce a range of advanced RFID labels designed for automotive, manufacturing, and healthcare applications. These new Metal Skin RFID labels offer enhanced traceability and visibility for asset management, making it easier for companies to track both metallic and non-metallic items. Compatible with SATO's RFID-enabled printers, these labels represent a versatile solution for industries that require flexible and reliable tagging.

Emergen Research has segmented the global inventory tag market on the basis of label type, print type, technology, application, end-use, and region.

Label Type Outlook (Revenue, USD Billion; 2019-2032)
Plastic
Paper
Metal
Others

Print Type Outlook (Revenue, USD Billion; 2019-2032)
Dot matrix printing
Thermal printing
Laser printing
Screen printing
Inkjet printing
Dot matrix printing
Flexographic printing
Others

Technology Outlook (Revenue, USD Billion; 2019-2032)
Barcode
Radio-Frequency Identification (RFID)
(Near Field Communication (NFC)
QR codes
Internet of Things (IoT)
Others

Application Outlook (Revenue, USD Billion; 2019-2032)
Inventory management
Material Requirements Planning (MRP)
Fleet management
Asset tracking
Production and quality control
Maintenance and compliance
Others

End-use Outlook (Revenue, USD Billion; 2019-2032)
Retail
Manufacturing
Warehousing and distribution
Automotive
Aviation and aerospace
Healthcare and pharmaceuticals
Others

Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

This release was published on openPR.