The global smart labels market is estimated to rise rapidly and is likely to witness a promising CAGR during the review period. The growing security issues concerning anti-theft is projected to expand the global smart labels market 2020. The technology allows one to track real-time information at a low-cost, which is an important factor resulting in a significant rise of the market. The demand to manage a variety of perishable items has resulted in the expansion of smart labels market. Besides, the immediate access to the information is the speculated to be a significant factor leading to market growth. Hence, the smart labels market has been experiencing exceptional growth at a global level. Besides, the growing cases of food poisoning with unique features of smart labels such as technologies like RFID and smart sensors that assist in real-time tracking have supported the market growth of the global smart labels market. Besides, the technological development in A.R. and IoT is likely to actuate the market growth.
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Market Segmentation
On the basis of application, the worldwide smart labels market can be segregated into electronic & I.T. asset, retail, perishable goods, and others.
On the basis of technology, the worldwide smart labels market can be segregated into sensing label, RFID, electronic shelf label, and others.
On the basis of end-use industry, the worldwide smart labels market can be segregated into Healthcare & pharmaceuticals, Manufacturing & Retail, Automotive, logistics, and FMCG, among others.
On the basis of region, the worldwide smart labels market can be segregated into North America, Europe, APAC and the Rest-of-the-World (RoW).
Regional Analysis
The regional analysis of North America, Europe, APAC and the Rest-of-the-World (RoW) has been carried out. As per the study, the market is estimated to expand significantly during the forecast period. According to the evaluation, the global market is anticipated to be dominated by the APAC region. The APAC region is experiencing an exponential growth owing to the presence of developing economies like India. China and Japan. The adoption of these labels across several manufacturing verticals is the major influencing factor in China and India. The APAC market is estimated to expand considerably by the end of the assessment period.
North America is estimated to hold the second position and is projected to be one of the most profitable markets. The increased demand and availability of high-quality smart labels is estimated to drive market growth. Besides, the increased economic growth in the region allows considerable investments in the retail industry, along with the increasing manufacturing sectors and the security issues increasing is estimated to fuel the demand.
The European market is estimated to be a lucrative emerging market by the end of the forecast period. Technological development and the growing adoption of smart labels across several industry verticals are some of the important factors leading to regional market expansion.
Key Players
The notable players of the global smart labels market are Muhlbauer Holding Ag & Co. Kgaa, CCL Industries Inc., Invengo Information Technology Co. Ltd., Checkpoint Systems Inc., Avery Dennison Corporation, Display data Ltd., Sato Holdings Corporation, Smartrac N.V., Willian Frick & Company, Zebra Technologies Corporation, Intermec Inc., Graphic Label Inc., ASK S.A., Thin Film Electronics ASA, and Alien Technology Inc
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