Press release
Inventory Tags Market Set to Reach $7.62 Billion by 2029 with 6% Yearly Growth
Inventory Tags Market Size
The escalation in deceptive merchandise is predicted to fuel the expansion of the inventory tags market. Deceptive merchandise refers to goods or services knowingly misrepresented or inaccurately labeled, intended to dupe customers or seek undue advantage in the commercial market. Factors attributing to this trend include the low cost of such products, lenient regulations, corruption, and ineffective enforcement. Inventory tags serve to diminish the presence of such products by enabling tracking through the supply chain and substantiating their genuineness. As reported by Business Wire, an India-based magazine in 2021, there has been a 47% increase in counterfeit medical products compared to 2020. This hike in fake products has been specifically noted in the case of vaccines, COVID-19 test kits, medicines, antibiotics, and sanitizers. Thus, the proliferation of deceptive merchandise is propelling the growth of the inventory tags market.
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How will the growth rate of the inventory tags market shape industry trends by 2034?
The market size for inventory tags has exhibited steadfast expansion in recent years. Predictions show it will expand from $5.76 billion in 2024 to $6.02 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%. The growth observed in the historic period can be credited to the adoption of barcode technology, the advancement of RFID tags, traditional inventory management systems, the standardization of tagging systems, and the implementation of QR codes.
The market size for inventory tags is projected to experience considerable growth in the coming years, expanding to "$7.62 billion in 2029 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth during this forecast period can be ascribed to the increasing demand for real-time tracking, optimization of the supply chain, incorporation of cloud-based solutions, and an emphasis on security and anti-theft initiatives. Key trends during this forecast period are expected to include progress in RFID, security and anti-counterfeiting actions, sustainability efforts, increased durability and lifespan, along with a focus on data analytics.
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What trends are poised to drive the future success of the inventory tags market?
The inventory tags market is increasingly embracing technological advancements, a trend that is quickly gaining traction. In order to maintain their standing in the market, firms that participate in this sector are integrating new technologies. An illustrative example is SimplyRFiD, an American firm specializing in RFID technology, which introduced the Popsicle RAIN RFID Flag Tag in March 2023. This RFID tag is versatile enough to be utilized in numerous sectors such as pharmaceuticals, electronics, and automotive where accurate product tracking and identification is essential. The Popsicle is uniquely crafted with a see-through adhesive part and a non-sticky RFID flag, making it a perfect labeling solution for solid-surface products while simultaneously allowing product details to remain visible.
Which primary segments of the inventory tags market are driving growth and industry transformations?
The inventory tags market covered in this report is segmented -
1) By Type: Plastic, Paper, Metal, Other Types
2) By Printing Technology: Offset Printing, Digital Printing, Flexography Printing, Gravure Printing, Other Printing Technologies
3) By End-Users: Industrial, Commercial, Retail, Other End-Users
Subsegments:
1) By Plastic: Polyethylene Tags, Polypropylene Tags, Vinyl Tags
2) By Paper: Glossy Paper Tags, Kraft Paper Tags, Recycled Paper Tags
3) By Metal: Aluminum Tags, Stainless Steel Tags, Brass Tags
4) By Other Types: Fabric Tags, Magnetic Tags, RFID Tags
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Which geographical regions are pioneering growth in the inventory tags market?
North America was the largest region in the inventory tags market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global inventory tags market during the forecast period. The regions covered in the inventory tags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the inventory tags market landscape?
Major companies operating in the inventory tags market include Avery Dennison Corporation, 3M Company, Zebra Technologies Corporation, Brady Corporation, Alien Technology Corporation, Cenveo Corporation, Checkpoint Systems Inc., Johnson Controls International plc, Ivaanshi Printpack Private Limited, G.M. Label Manufacturing Ltd., Arora Print Packers Pvt. Ltd., Globe Traders Pvt. Ltd., SATO Corporation, Honeywell International Inc., HID Global Corporation, Datalogic S.p.A., Invengo Technology Pte. Ltd., Smartrac N.V., FineLine Technologies Inc., William Frick & Company Inc., Metalcraft Technologies Inc., Nexqo Technology Co. Ltd., Confidex Ltd., MSM Solutions Ltd., NXP Semiconductors N.V., Omni-ID Ltd., Camcode Limited
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What Is Covered In The Inventory Tags Global Market Report?
• Market Size Forecast: Examine the inventory tags market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the inventory tags market for a structured understanding.
• Key Players Overview: Analyze major players in the inventory tags market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the inventory tags market.
• Segment Contributions: Evaluate how different segments drive overall growth in the inventory tags market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the inventory tags market.
• Industry Challenges: Identify potential risks and obstacles affecting the inventory tags market.
• Competitive Landscape: Review strategic developments in the inventory tags market, including expansions, agreements, and new product launches.
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