Smart Labels Market to Grow at a CAGR of 17.0% through 2026
Posted by harshada on April 19th, 2018
According to the research findings from Future Market Insights’ report, titled “Smart Labels Market: Global Industry Analysis and Opportunity Assessment, 2016–2026,” nearly 400,000 thousand units of smart labels sold globally in 2016 were accounted by Radio-Frequency Identification (RFID) technology, which amounted to an estimated US$ 2,493.9 million. Surging demand for RFID tags in the global retail industry have instrumented the boost in sales of smart labels, globally. Furthermore, the advantages of RFID smart labels in maintaining, tracking and updating stock & inventory databases is predicted to continue driving their demand around the globe in the coming years.
According to Future Market Insights,
Request For TOC @https://www.futuremarketinsights.com/askus/rep-gb-2704
Key highlights of the research report exhibit RFID as the dominant labelling technology, however, Electronic Article Surveillance (EAS) and sensing labels are also expected to gain traction while independently registering a rise at more than 16% CAGR over the forecast period. By the end of 2026, global retail industry will be the largest end-user of smart labels by procuring global revenue share of more than 30%. On the other hand, healthcare, automotive and logistics will be considered as lucrative end-user industries for smart labels, collectively accounting for sales of more than 1,561,000 thousand units by 2026-end.
Flexographic and gravure printing technologies are predicted to dominate the global smart labels market in terms of revenues. Over the forecast period, more than US$ 8 billion revenues are will be accounted by flexographic smart labels, while smart labels manufactured through gravure printing technology will amass an estimated US$ 6.4 billion market value.
North America’s smart labels market is anticipated to procure over 40% of the global revenues, throughout the forecast period. Avery Dennison Corporation, CCL Industries Inc., Checkpoints Systems, Inc., Zebra Technologies Corporation, and Intermec, Inc., are some of the leading players in the global smart labels market that are based in the US and Canada. Smart label revenues in Asia-Pacific excluding Japan (APEJ) region are projected to rise at the fastest CAGR – 18.2%, while Western Europe smart labels market is likely to reach an estimated US$ 3.6 billion market value by the end of 2026. Other companies participating in the growth of global smart labels market include, Sato Holdings Corporation, Smartrac N.V., Invengo Information Technology Co Ltd., Thin Film Electronics ASA, and Muehlbauer Holding AG.
Like it? Share it!
About the Authorharshada
Joined: July 4th, 2017
Articles Posted: 522
More by this author