Frequently Asked Questions:
The smart label market also suffered from the COVID-19 pandemic, which resulted in a decline of over 3.2% in revenue generated in 2020.
North America accounted for the highest share in the global smart label market regarding value and volume.
Technological advancement, rise in disposable household income, feasible real-time tracking of goods, increasing adoption of the product by the healthcare and eCommerce sectors, and growing demand for security and anti-theft smart labels are all driving the global market growth.
The RFID labels segment had a major share in 2021, with more than 35% of the market revenue. Besides, NFC tags segment is projected to witness the fastest growth.
The retail segment had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period.