QR Code Labels Market size and forecast, 2017-2027
QR Code labels: Market Dynamics
The global QR Code labels market is expected to be driven by the increasing growth of automotive industry in the developing economies of Asia Pacific. QR code labels are widely used by the automotive manufacturing company to track the parts of the vehicle during manufacturing. Companies are adopting QR code labels for their advertising strategy because it offers an approach to access the products website quickly than by the conventional URL. Moreover, mounting development of smartphone application is expected to further propel the growth of QR code labels in the near future, as smartphone can scan the QR codes and translate it into a useful information. Furthermore, increasing acceptance of QR code in food industry is anticipated to further boost the growth of QR code labels because it provides the nutritional fact of the product, recipes and discount codes. In addition, industrial manufacturers are also inclined to adopt QR code labels to minimize the training cost by assuring proper product training video. In addition, retail industry is experiencing a healthy growth that can further positively impact the growth in the QR code labels market.
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QR Code labels: Market Segmentation
The global QR code labels market is segmented on the basis of material type, end use industry
Based on the material type the global QR code labels market is segmented into:
Based on the end use industry the global QR code labels market is segmented into:
Cosmetic & personal care
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QR Code labels Market: Regional outlook
In terms of geography, the global QR code labels market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. Asia pacific region is expected to register highest growth as compared to the other region during the forecast period. Developing economies like India, china and ASEAN countries are the most lucrative market for the QR code labels manufacturer owing to the increasing number of smartphone users coupled with the rising growth of organized retail sector. North America is also anticipated to witness massive growth over the forecast period. Moreover, Europe is also expected to observe a steady growth during the forecast period. However, Middle East & Africa region is anticipated to be sluggish throughout the forecast period.
QR code labels Market: Key players
Some of the key players in the global QR code labels market are Tapp Label Technologies Inc., Avery Products Corporation., Unipress corporation, Afinia label Inc., Lintec Label & Print Solutions, Country labels etc.
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