Smart Labels Industry Market - Key Growth Factors and Industry Analysis 2017-2024
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Increasing demand for the reliable anti-theft devices is the key factor driving growth of the global smart labels industry market currently. The smart labels come with various features, such as re-programmability, real time tracing, and simultaneous identification, which are further driving growth of the market in logistics and manufacturing related industries. Furthermore, rise in industry consolidation and growing technological proliferation of smart label products, coupled with their usage in various applications such as healthcare & pharmaceuticals, manufacturing & retail, food & beverages, and logistics, is another major factor fueling growth of the global smart labels industry.
Besides, rapid urbanization, coupled with increasing disposable income of the buyers in developing regions, is also boosting growth of the market for global smart labels. Increasing security concerns related to anti-theft devices, globally, are also expected to drive demand for smart labels in the coming years. Meanwhile, the key restraint for the growth of the global smart labels industry is the lack of mechanical susceptibility and constant standards.
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On the basis of end-user industry, the global smart labels industry market is segmented into:
Healthcare & Pharmaceuticals
Manufacturing & Retail
Food & Beverages
Others (includes data center & library and aerospace)
Currently, the manufacturing & retail segment is the largest end users of smart labels. The growth of this segment is mainly attributed to the rise in number of supermarkets in developing economies.
On the basis of application, the global smart labels industry market is segmented into:
Electronics & IT Assets
On the basis of type, the global smart labels industry market is segmented into:
Electronic Article Surveillance Label (EAS)
Dynamic Display Label
Electronic Shelf Label (ESL)
RFID is anticipated to emerge as the largest segment in terms of value in the global smart labels industry market in the coming years. Furthermore, it is anticipated to continue its dominance in the coming years due to increasing demand for networking, RFID labels, and electronics & IT assets, mainly in developing countries of Asia Pacific.
Geographically, the global smart labels industry market is segmented into seven main regions, namely- Western Europe, Eastern Europe, North America, Latin America, Asia Pacific excluding Japan, the Middle East & Africa, and Japan. The historical growth of the Latin America and Asia Pacific economies has been a feature of the 21st century. This economic growth has, to a degree, been another driver for the high levels of growth witnessed in the global smart labels industry market. Among all the regional markets, Asia Pacific is expected to witness the highest market growth in the coming years. The Middle East & Africa is also anticipated to witness a significant growth in the coming years. Also, the Wal-Mart Stores, Inc. has announced to open more than 1,200 retail stores in the Africa region by 2016 end, which is expected to fuel growth of the market for smart labels in the region. North America, followed by Europe, is expected to hold the largest market share in the global smart labels industry market, due to extensive use of smart labels in logistics industries and the manufacturing & retail sector in the region.
Some of the key players covered in this study on the global smart labels industry market are Avery Dennison Corporation, CCL Industries Inc., SMARTRAC N.V., Invengo Technology BV, Advantech US, Muehlbauer Holding AG & Co. KGaA, Thinfilm, ZIH Corp., Metra Blansko, and TOSHIBA Global Commerce Solutions, Inc.
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