The global smart labels market reached a valuation of $9 billion in 2023 and is anticipated to surge to $39.2 billion by 2029, with a remarkable CAGR of 15.9% during the period from 2023 to 2029. Smart labels are specialized tags that can be affixed to or printed on packaging materials, offering valuable product information. These labels utilize printed paper, plastic, or fabric, enhanced with advanced intelligent inlay technology that allows them to digitally capture and convey more information than is physically printed on the label itself.
Smart labels have gained significant traction in the packaging industry due to the growing demand for product information accessibility through smart devices. These labels represent an innovative and transparent labeling solution integrated with digital technology and smart devices, enabling consumers to access detailed information about their purchased products. The global smart labels market's expansion is poised to empower consumers with heightened visibility into product information. Moreover, the increasing need for robust anti-theft measures, driven by enterprise security concerns, contributes significantly to the surging demand for smart labels in the market.
The market has experienced a surge in adoption within the packaging industry due to its capacity to provide comprehensive product information through the integration of digital technology and smart devices. Furthermore, the increasing demand for the market is propelled by its ability to offer real-time product visibility and the growing need for robust anti-theft solutions driven by security concerns. Additionally, the market has witnessed substantial growth due to the consolidation of various industries and technological advancements, which find applications in sectors such as healthcare, pharmaceuticals, logistics, retail inventory, food and beverages, among others. Consequently, smart labels, equipped with features such as real-time location tracking, re-programmability, and simultaneous identification with detailed information, are poised to drive demand across diverse sectors during the forecast period. However, the absence of uniform standardized guidelines for smart labels remains a significant challenge, restraining market growth and affecting the global smart labels market size.
Moreover, the outbreak of the COVID-19 pandemic had a substantial impact on industries such as construction, manufacturing, hospitality, and tourism. Manufacturing activities experienced restrictions and interruptions, leading to decreased production of various equipment and reduced market demand, thereby hindering market growth. Nevertheless, industries are gradually resuming their regular manufacturing and services, signaling the recovery of dust control systems companies and the smart labels market by the end of 2023.
The RFID labels segment emerged as the top revenue generator in the market, owing to its widespread applications in industries for automatic data capture, enhanced information accuracy, and real-time tracking capabilities. Asia-Pacific is poised to exhibit the most significant growth in the global smart labels market, driven by the increasing potential of start-ups, rising disposable income levels, urbanization and industrialization trends, and the surge in retail, healthcare, and pharmaceutical industries.
The RFID smart labels market is poised for substantial growth in the forecast period, driven by heightened market competition, which has led to the availability of cost-effective RFID solutions on a global scale. The increased adoption of RFID solutions across the healthcare and manufacturing sectors further fuels market expansion during this period. Additionally, the proliferation of regulations and government initiatives across various industries is expected to drive growth in the smart labels market.
However, the high costs associated with RFID installation, purchase, and maintenance, along with concerns about data security and privacy, are likely to impede market growth. On the positive side, the growing adoption of RFID tags for Industry 4.0, Internet of Things (IoT), and smart manufacturing solutions presents lucrative opportunities for the smart labels market.
The rapid population growth and urbanization have spurred the expansion of various industries, including retail, food and beverage, healthcare, and pharmaceuticals, to meet the rising demands of consumers. These industries have found diverse applications for smart labels in areas such as packaging, printing, and labeling, driving market growth and offering promising prospects for the global smart labels market.
Furthermore, electronic shelf labels (ESLs), also known as digital price tags, are wireless display systems used by retail stores to showcase product prices. Typically affixed to the front edge of retail shelves, ESLs directly connect to the store's ERP and point of sale (POS) systems, reducing labor costs associated with pricing management, enhancing pricing accuracy, and enabling dynamic pricing. Each ESL system features an LCD or e-ink display that presents product prices and Universal Product Codes (UPCs). The automation trend in the retail industry is a key growth driver for the electronic shelf label market. The need for more cost-efficient and time-saving alternatives to paper labels also fuels market growth. Moreover, the utilization of electronic shelf labels improves operational efficiency by providing real-time product positioning information. However, the high installation and infrastructure costs, coupled with a relatively low return on investment, may impede the growth of the smart labels market.
The smart labels market exhibits segmentation based on product type, application, end user, and region. In terms of product type, the market is divided into RFID, electronic article label, sensing label, and dynamic display label. The market's application categories include retail inventory and perishable goods. End users are classified into retail, healthcare, logistics, and others. Geographically, the market is analyzed across North America (comprising the U.S., Canada, and Mexico), Europe (including Germany, the UK, France, Italy, and the rest of Europe), Asia-Pacific (encompassing China, India, Japan, South Korea, and the rest of Asia-Pacific), and LAMEA (covering Latin America, the Middle East, and Africa).
As of 2023, the RFID segment held the dominant position in the smart labels market in terms of revenue, while the sensing label segment is projected to experience the highest CAGR during the forecast period. In terms of application, the retail inventory segment led the market in 2023, with the perishable goods segment expected to demonstrate the highest CAGR in the near future. Among end users, the retail segment claimed the top spot in revenue generation in 2023, while the healthcare segment is anticipated to achieve the highest CAGR during the forecast period. Geographically, Asia-Pacific secured the highest revenue in 2023, and LAMEA is predicted to register the highest CAGR during the forecast period.
Key players profiled in the smart labels market report include Advantech, Alien Technology, AVERY DENNISON CORPORATION, CGL Industries Inc., Graphic Label, Inc., Invengo Information Technology Co., Ltd., Meuhlbauer Holdings AG & Co., SATO Holdings, Thin Film Technology, and Zebra Technologies Corp.
Major companies in the market have adopted strategies such as business expansion and acquisition to enhance their offerings and provide superior products and services to customers in the smart labels market.
Smart Labels Market Report Highlights
Market Size By 2029
USD 39.2 billion
CAGR of 15.9%
2023 - 2029
By Product Type
By End User
Key Market Players
SATO Holdings, Graphic Label, Inc., Alien Technology, AVERY DENNISON CORPORATION, Meuhlbauer Holdings AG & Co., CGL Industries Inc., Zebra Technologies Corp., Invengo Information Technology Co., Ltd., Thin Film Technology, advantech
Smart labels represent the fusion of technology and the packaging industry, offering real-time tracking capabilities, instant product identification, and detailed product information. The growing concerns regarding security and anti-theft measures have further driven the demand for smart labels.
Continuous innovation has been a hallmark of this market, aimed at enhancing performance. For instance, Greek Lake Labels introduced tri-panel smart labels, tailored to provide extensive data, particularly catering to the horticulture industry.
As of 2023, North America held the largest share in the global smart labels market, primarily due to the extensive adoption of smart labels in the United States. This region is expected to maintain its leadership position, driven by advancements in inventory management systems, asset tracking capabilities, and the flourishing retail industry.
The global smart labels market is poised for significant growth during the forecast period, fueled by the expansion of the healthcare and pharmaceutical sectors, as well as the sustained growth of retail, logistics, and the food and beverage industries.
Key players profiled in the smart labels market include Advantech, Alien Technology, AVERY DENNISON CORPORATION, CGL Industries Inc., Graphic Label, Inc., Invengo Information Technology Co., Ltd., Meuhlbauer Holdings AG & Co., SATO Holdings, Thin Film Technology, and Zebra Technologies Corp. These major companies have adopted strategies such as business expansion, partnerships, acquisitions, and product launches to deliver superior products and services to customers in the smart labels market.
FREQUENTLY ASKED QUESTIONS
Q1. What is the total market value reported for the global smart labels market?
- The global smart labels market was assessed at $9 billion in 2023, and it is estimated to reach $39.2 billion by 2029, with a compound annual growth rate (CAGR) of 15.9% from 2023 to 2029.
Q2. What is the specified forecast period covered in the global smart labels market report?
- The forecast period considered in the global smart labels market report spans from 2023 to 2029. The base year for this assessment is 2023, the estimated year is also 2023, and the forecast year is 2029.
Q3. How can I obtain a sample of the global smart labels market report?
- You can request a sample of the latest version of the global smart labels market report directly from the website.
Q4. What is the base year utilized for calculations in the global smart labels market report?
- The base year utilized in the global smart labels market report is 2023.
Q5. Which prominent companies are recognized for holding substantial market share in the global smart labels market?
- The dominant companies with significant market share in the global smart labels market report include Advantech, Alien Technology, AVERY DENNISON CORPORATION, CGL Industries Inc., Graphic Label, Inc., Invengo Information Technology Co., Ltd., Meuhlbauer Holdings AG & Co., SATO Holdings, Thin Film Technology, and Zebra Technologies Corp.
Q6. How can I access statistical data regarding the top market players featured in the global smart labels market?
- The selection of the top ten market players is based on their competitive strength and market positioning. Detailed statistical data and profiles of these leading companies are provided in the report.
Q7. How were the company profiles chosen for inclusion in the report?
- The report incorporates an exclusive company profile section that features leading firms in the market. These profiles encompass aspects such as company background, geographical presence, market influence (in terms of revenue and sales volume), strategic approaches, and recent developments.
Q8. Which specific market segment holds the largest market share within the smart labels market?
A. Within the smart labels market, the RFID segment holds the largest market share based on product type.
1 Market Overview
1.2 Market Analysis by Type
1.2.1 Overview: Global Revenue by Type: 2022 Versus 2023 Versus 2029
1.3 Market Analysis by Application
1.3.1 Overview: Global Revenue by Application: 2022 Versus 2023 Versus 2029
1.4 Global Market Size & Forecast
1.4.1 Global Sales in Value (2017-2029))
1.4.2 Global Sales in Volume (2017-2029)
1.4.3 Global Price by Type (2017-2029) & (US$/Unit)
1.5 Global Production Capacity Analysis
1.5.1 Global Total Production Capacity (2017-2029)
1.5.2 Global Production Capacity by Geographic Region
1.6 Market Drivers, Restraints and Trends
1.6.1 Market Drivers
1.6.2 Market Restraints
1.6.3 Trends Analysis
2 Manufacturers Profiles
**This is for each company**
2.1.1 Company Details
2.1.2 Company Major Business
2.1.3 Company Product and Services
2.1.4 Company Sales, Price, Revenue, Gross Margin and Market Share (2019-2022)
3 Sales by Manufacturer
3.1 Global Sales in Volume by Manufacturer (2020-2022)
3.2 Global Revenue by Manufacturer (2020-2022)
3.3 Key Manufacturer Position in Market
3.4 Market Concentration Rate
3.4.1 Top 3 Manufacturer Market Share
3.4.2 Top 6 Manufacturer Market Share
3.5 Global Production Capacity by Company
3.6 Manufacturer by Geography: Head Office and Production Site
3.7 New Entrant and Capacity Expansion Plans
3.8 Mergers & Acquisitions
4 Market Analysis by Region
4.1 Global Market Size by Region
4.1.1 Global Sales in Volume by Region (2017-2029)
4.1.2 Global Revenue by Region (2017-2029)
4.2 North America Revenue (2017-2029)
4.3 Europe Revenue (2017-2029)
4.4 Asia-Pacific Revenue (2017-2029)
4.5 South America Revenue (2017-2029)
4.6 Middle East and Africa Revenue (2017-2029)
5 Market Segment by Type
5.1 Global Sales in Volume by Type (2017-2029)
5.2 Global Revenue by Type (2017-2029)
5.3 Global Price by Type (2017-2029)
6 Market Segment by Application
6.1 Global Sales in Volume by Application (2017-2029)
6.2 Global Revenue by Application (2017-2029)
6.3 Global Price by Application (2017-2029)
7 North America by Country, by Type, and by Application
7.1 North America Sales by Type (2017-2029)
7.2 North America Sales by Application (2017-2029)
7.3 North America Market Size by Country
7.3.1 North America Sales in Volume by Country (2017-2029)
7.3.2 North America Revenue by Country (2017-2029)
7.3.3 United States Market Size and Forecast (2017-2029)
7.3.4 Canada Market Size and Forecast (2017-2029)
7.3.5 Mexico Market Size and Forecast (2017-2029)
8 Europe by Country, by Type, and by Application
8.1 Europe Sales by Type (2017-2029)
8.2 Europe Sales by Application (2017-2029)
8.3 Europe Market Size by Country
8.3.1 Europe Sales in Volume by Country (2017-2029)
8.3.2 Europe Revenue by Country (2017-2029)
8.3.3 Germany Market Size and Forecast (2017-2029)
8.3.4 France Market Size and Forecast (2017-2029)
8.3.5 United Kingdom Market Size and Forecast (2017-2029)
8.3.6 Russia Market Size and Forecast (2017-2029)
8.3.7 Italy Market Size and Forecast (2017-2029)
9 Asia-Pacific by Country, by Type, and by Application
9.1 Asia-Pacific Sales by Type (2017-2029)
9.2 Asia-Pacific Sales by Application (2017-2029)
9.3 Asia-Pacific Market Size by Region
9.3.1 Asia-Pacific Sales in Volume by Region (2017-2029)
9.3.2 Asia-Pacific Revenue by Region (2017-2029)
9.3.3 China Market Size and Forecast (2017-2029)
9.3.4 Japan Market Size and Forecast (2017-2029)
9.3.5 Korea Market Size and Forecast (2017-2029)
9.3.6 India Market Size and Forecast (2017-2029)
9.3.7 Southeast Asia Market Size and Forecast (2017-2029)
9.3.8 Australia Market Size and Forecast (2017-2029)
10 South America by Country, by Type, and by Application
10.1 South America Sales by Type (2017-2029)
10.2 South America Sales by Application (2017-2029)
10.3 South America Market Size by Country
10.3.1 South America Sales in Volume by Country (2017-2029)
10.3.2 South America Revenue by Country (2017-2029)
10.3.3 Brazil Market Size and Forecast (2017-2029)
10.3.4 Argentina Market Size and Forecast (2017-2029)
11 Middle East & Africa by Country, by Type, and by Application
11.1 Middle East & Africa Sales by Type (2017-2029)
11.2 Middle East & Africa Sales by Application (2017-2029)
11.3 Middle East & Africa Market Size by Country
11.3.1 Middle East & Africa Sales in Volume by Country (2017-2029)
11.3.2 Middle East & Africa Revenue by Country (2017-2029)
11.3.3 Turkey Market Size and Forecast (2017-2029)
11.3.4 Egypt Market Size and Forecast (2017-2029)
11.3.5 Saudi Arabia Market Size and Forecast (2017-2029)
11.3.6 South Africa Market Size and Forecast (2017-2029)
12 Sales Channel, Distributors, Traders and Dealers
12.1 Sales Channel
12.1.1 Direct Marketing
12.1.2 Indirect Marketing
12.2 Typical Distributors
12.3 Typical Customers
13 Research Findings and Conclusion
14.2 Research Process and Data Source
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analysing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.