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Smart Labels Market, Report Study, Demand, Key Players, and Forecast by 2028

Smart Labels Market

Market Overview

Smart labels market growth is expected to achieve a CAGR of 18.41% with a market value of $22827 million by the year 2028. Smart Labels Market, created by Grocery Manufacturers Association (GMA), has gained traction in the packaging industry, owing to growth in the demand for product information through smart devices. These labels act as the innovative transparent label associated with digital technology and smart devices that enable consumers to access a piece of detailed information about their products. The growth of the global Smart Labels Market will enable consumers to gain enhanced information visibility on the purchased products. Due to the enterprises ‘ security concerns, an increase in demand for effective anti-theft devices contributes to the significant rise in the demand for the global smart labels industry.

Moreover, a significant rise in consolidated industries and technological advancements associated with the use in various applications, such as healthcare, & pharmaceuticals, logistics, retail inventory, food & beverages, and others, have further boosted the growth of the global smart labels market. Thus, the features of smart labels, like real-time location tracing, re-programmability, and others like simultaneous identification & detailed information, are expected to fuel the demand for the global smart labels industry in various sectors during the forecast period.

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The global smart labels market has witnessed an increase in adoption in the packaging industry, owing to the ability to provide detailed information to customers about products using digital technology and smart devices.

 Market Segmentation

The global smart labels market is segmented based on the product type, application, end-user industry, and geography.

 Based on the type, it is classified into radio frequency identification (RFID), electronic article surveillance labels (EAS), sensing labels, and others like dynamic display labels.

 The global smart labels market is categorized into retail inventory, perishable goods, and pallets tracking equipment and IT assets.

 Based on the end-user industry

The global industry is divided into retail, health & pharmaceuticals, food & beverage, logistics, fast-moving consumer goods that as FMCG, and others like automotive.

 Geographically, the global smart labels market is functional across North America, Europe, Asia-Pacific, and LAMEA.

 Regional Analysis

North America is the largest market for smart labels globally, with the United States accounting for a significant region share. The country’s huge market can be attributed to the vast presence of small and big retail stores.

The presence of retail giants, such as Walmart, lead the United States market. This is driving the upsurge in activity, mainly contributing to the growth of smart labels in the country. Walmart, in the US has been placing electronic identification tags on products like men’s clothing, like jeans, as the retailer tries to gain more control over its inventory.

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Some of the prominent market players are mentioned as follows:

  • Invengo Information Technology Co., Ltd.
  • Zebra Technologies
  • Graphic Label, Inc.
  • SATO Holdings

 Industry News

In November 2020, one of the prominent market companies – Saanbuy Inc., introduced the SmartLabel tool in Canada. The tool helps the consumers complete access to detailed information about the products by scanning the QR code printed on the packages.

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