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Evolving Market Trends In The Quick Response (QR) Code Labels Industry: Advancements In QR Code Label Technology Enhancing Accessibility And Engagement
Quick Response (QR) Code Labels
What Is the Expected Quick Response (QR) Code Labels Market Size During the Forecast Period?
The quick response (QR) code labels market, valued at $1.48 billion in 2024, is expected to grow to $1.64 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.3%. The market's growth in recent years is driven by improved inventory management, enhanced marketing capabilities, increased smartphone adoption, the demand for quick information access, and advancements in mobile payment systems.
The quick response (QR) code labels market is forecasted to experience rapid growth, reaching $2.49 billion by 2029, with a compound annual growth rate (CAGR) of 11.0%. This growth is driven by factors such as the rise in e-commerce, advancements in augmented reality, increased adoption of digital payments, growing demand for contactless interactions, and wider use in healthcare for information sharing. Key trends in the coming years include integration with IoT, personalized marketing, expanded use in digital menus, enhanced security features, and broader use in smart packaging.
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What Are the High-Growth Segments in the Quick Response (QR) Code Labels Market?
The quick response (QR) code labels market covered in this report is segmented -
1) By Label Type: Sleeve Labels, Glue Applied Labels, Pressure Sensitive Labels, Other Label Types
2) By Material Type: Paper, Plastic, Polyethylene Terephthalate, Poly Vinyl Chloride, Vinyl
3) By Printing Technology: Flexographic, Digital Printing, Offset Lithography, Gravure Printing, Other Printing Technologies
4) By End Use: Food And Beverage, Pharmaceuticals, Personal Care And Cosmetics, Automotive, Homecare And Toiletries, Chemicals, Industrial, Other End Uses
Subsegments:
1) By Sleeve Labels: Shrink Sleeve Labels, Stretch Sleeve Labels, Roll-On Sleeve Labels, Full-Sleeve Labels
2) By Glue Applied Labels: Wet Glue Labels, Dry Glue Labels, Hot Melt Glue Labels, Cold Glue Labels
3) By Pressure Sensitive Labels: Paper-Based Pressure Sensitive Labels, Film-Based Pressure Sensitive Labels, Clear Or transparent Pressure Sensitive Labels, Special Adhesive Pressure Sensitive Labels
4) By Other Label Types: In-Mold Labels, Wrap-Around Labels, Rfid-Embedded Labels, Security Or Anti-Counterfeit Labels, Thermal Transfer Labels
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What Key Drivers Are Expected to Influence Future Quick Response (QR) Code Labels Market Growth?
The rising preference for online transactions is anticipated to boost the quick response (QR) code labels market. Online payments have become more popular due to ease of use, faster processing, and security enhancements. QR code labels support these transactions with fast, contactless scanning. For example, in September 2023, UK Finance reported that contactless payments in the UK increased from 13.1 billion in 2021 to 17.0 billion in 2022. Therefore, rising online payment demand is fueling the QR code labels market.
Which Companies Hold the Largest Share Across Different Quick Response (QR) Code Labels Market Segments?
Major companies operating in the quick response (QR) code labels market are Brother Industries Ltd, Zebra Technologies LLC, CCL Industries Inc., Brady PLC, Cognex Corporation, Bizerba USA Inc, Epson America Inc, HERMA Gmbh, Avery Products Corp, AstroNova Inc, MPI Label Systems, Online Labels LLC, Consolidated Label Co, Citizen Systems Co Ltd, SATO Holdings Corporation, Denso Wave Incorporated, Afinia Label, Holo Security Technologies Pvt Ltd, Coast Label Co, Label Express, Hibiscus Plc, Crown Labels Mfg Co Ltd.
What Trends Are Driving Growth in The Quick Response (QR) Code Labels Market?
Companies in the quick response (QR) code label market are developing advanced solutions such as zap vision technology to enhance product traceability and security. Zap vision technology is a QR code label designed to improve accessibility and user engagement. For example, in November 2023, Bayer Plc, a UK-based life science company, and Zappar, a UK-based augmented reality app developer, introduced Accessible QR codes (AQR) on their Canescool Soothing Gel Cream packaging. This innovation aims to improve access to product information for visually impaired users by optimizing QR codes for use with accessibility apps like Envision, Microsoft SeeingAI, and Zapvision.
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What Are the Emerging Geographies for The Quick Response (QR) Code Labels Market Growth?
North America was the largest region in the quick response (QR) code labels market in 2024. The regions covered in the quick response (QR) code labels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Quick Response (QR) Code Labels Market?
2. What is the CAGR expected in the Quick Response (QR) Code Labels Market?
3. What Are the Key Innovations Transforming the Quick Response (QR) Code Labels Industry?
4. Which Region Is Leading the Quick Response (QR) Code Labels Market?
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