The latest market report published by Credence Research, Inc. is “Global Smart Label Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Smart Label Market generated revenue of around USD 9.1 billion in 2021 and is anticipated to grow a CAGR of over 9.2% during the forecast period from 2022 to 2028 to reach around USD 15.43 billion in 2028.
A smart label, also known as a smart tag, is an extremely flat transponder hidden beneath a conventional print-coded label that includes an antenna, chip, and bonding wires. Numerous features of a smart label include automated reading, rapid identification, programmability, high tolerance, and decreased errors. Smart labels are rapidly becoming a standout among popular innovations in healthcare, retail, consumer goods, and manufacturing. They are regarded as an ideal way to achieve significant efficiencies and profits while maintaining the authenticity of a product. Smart labels also help with traceability from the warehouse to the distribution channels and the supply chain. Growing technical proliferation and digitization are expected to drive demand for smart labels over the forecast period. These smart labels, practically embedded electronic devices with advanced capabilities, provide more product surveillance and better information. However, these smart labels’ mechanical susceptibility and functionality are expected to restrain the global market expansion during the forecast period.
Browse Global Smart Label Market report-https://www.credenceresearch.com/report/smart-label-market
The global smart label market is bifurcated into Labelling Technology, Printing Technology, End Use, and Geography. Based on labeling technology, the market is categorized into RFID, NFC tags, EAS, sensing labels, and electronic shelf labels. Based on printing technology, the global market is segmented into flexographic smart labels, digital smart labels, gravure smart labels, and smart screen labels. Based on the end user, the market is divided into healthcare, automotive, FMCG, logistics, and retail. The market is divided geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2021, North America dominated the global smart label market and accounted for a major market revenue share. North America is one of the most technologically advanced regions in the world, with the presence of the world’s largest economy, the United States. As the most technologically advanced region, smart label technology was first invented and used in the region, gaining popularity worldwide and contributing significantly to the overall economy through revenue generation.
Why to Buy This Report –
- The report examines the global smart label market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
- The report includes competitive landscape information, such as how the market’s key players operate on a global, regional, and country level.
- In-depth analysis of the global smart label market segmentation by labeling technology, printing technology, and end-use.
- The report includes detailed and authentic data for all factors, such as CAGR, supply and demand, consumer purchasing trends, and import-export statistics.
- The smart label market report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
The Global Smart Label Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|By Labelling Technology (2016–2028; US$ Bn)|
|By End Use (2016–2028; US$ Bn)|
|By Printing Technology (2016–2028; US$ Bn)|
|By Geography Segment (2016–2028; US$ Bn)|