Smart Label Global Market Report 2023

Major players in the smart label market are Avery Denison Corporation, CCL Industries Inc., Checkpoint Systems Inc., Thin Film Electronics ASA, Alien Technology Inc., Zebra Technologies Corporation, SATO Holdings Corporation, Invengo Technology Pte.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smart Label Global Market Report 2023" - https://www.reportlinker.com/p06479721/?utm_source=GNW Ltd., Advantech USA, Muehlbauer Holding AG & Co. KGaA, Smartrac N.V., Multi-Color Corporation, Intermec Inc., SML Group Limited, and CGL Industries Inc.The global smart label market is expected to grow from $8.05 billion in 2022 to $9.38 billion in 2023 at a compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The smart label market is expected to reach $16.47 billion in 2027 at a CAGR of 15.1%.The smart label market consists of revenues earned by entities by providing Dynamic Display Labeling, and electronic article surveillance labelling.The market value includes the value of related goods sold by the service provider or included within the service offering.The smart label market also includes sales of quick response codes, data embedded barcodes, radio-frequency identification, and time temperature indicators which are used for providing smart label services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Smart labels are special labels that contain advanced technology to provide additional information beyond a traditional label. It is used as directions for using or preparing the product, tips for recycling the packaging, warnings about safety and handling, and scrumptious recipes.North America was the largest region in the smart labels market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in smart label report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main components of the smart label are batteries, transceivers, microprocessors, memories, and others.Batteries refer to the power source used to operate electronic components in the label, such as sensors, microprocessors, and wireless communication modules.The various labeling technology includes Radio Frequency Identification (RFID), NFC tags, Electronic article surveillance (EAS), sensing labels, and electronics shelf labels, that uses various printing technology such as flexographic smart labels, digital smart labels, gravure smart labels, and screen smart labels. These are used in various applications such as retail inventory, and perishable goods, and are used in retail, healthcare and pharmaceuticals, food and beverages, consumer electronics, supply chain and logistics, transportation, and others.The increasing demand from end users such as the food and beverage industry is expected to boost the growth of the smart label market going forward.The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food.Smart labels add traceability to the product which is important for tracing the source of the food that helps in preventing fake goods, as a result, increasing demand from end users such as the food and beverage industry increases the demand for the smart label market.For instance, in 2023, according to the Food & Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, the exports of food and drink increased by 31% in 2022 compared to 2021.Additionally, the food and beverages industry have a turnover of US$3.52billion (£10.3 billion) in 2022, accounting for 33% of total Scottish manufacturing. Therefore, the increasing demand from end users such as the food and beverage industry is driving the growth of the smart labels market.Technological advancements are a key trend gaining popularity in the smart label market.Major companies operating in the smart label market are adopting new technologies to sustain their position in the market.For instance, in January 2023, Pod Group a UK-based connectivity solution provider company in partnership with Sodaq, Netherlands-based quality-focused experienced company in the field of the Internet of Things, and Lufthansa Industry Solutions, a Germany-based software company launched a commercial smart label tracking device.This device is used for tracking small and lightweight items in the logistics industry.This smart label uses low-power cellular 5G connectivity standards to send device-related data like location and temperature to a centralized dashboard. This technology keeps the label battery lightweight and optimized battery life that lasts up to 6 months.In October 2021, Barcodes Inc. a US-based barcode, mobile computing, and RFID solutions provider acquired Smart Labels Solutions for an undisclosed amount. This acquisition broadens, diversifies, and strengthens Barcodes Inc.’s product portfolio through the addition of RFID hardware, software, and SLS manufacturing with the integration of RFID solutions. Smart Label Solutions is a US-based process engineering and Radio Frequency Identification (RFID) company that provide smart label solutions.The countries covered in the smart label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The smart label market research report is one of a series of new reports that provides smart label market statistics, including smart label industry global market size, regional shares, competitors with a smart label market share, detailed smart label market segments, market trends, and opportunities, and any further data you may need to thrive in the smart label industry. This smart label market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479721/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________