Global Inventory Tags Market 2017-2021

Overview of the global inventory tags market

Supply chain and warehouse operations demand for efficient and continuous tracking of several materials and assets being transported. Inventory tags attached to the products enable easy identification of product and inventory using automatic data collection systems that utilizes bar codes.  Technavio's market study identifies the demand for improving supply chain security and efficiency to be one of the primary growth factors for the inventory tags market. Using inventory tags reduces the chances of human error while simplifying and quickening the data collection and analysis process. Our market analysts estimate that the market will grow steadily at a CAGR of more than 5% by 2021.

Inventory management solutions are steadily innovating to ease the management and improve the inventory handling, contributing steadily to the growth of the inventory tags market. Warehouses are adopting innovative solutions such as warehouse management systems (WMS) and mobile devices for remote inventory management and tag scanning. Inventories stored in advanced warehouses are tagged with RFID tags and scanners at several locations to monitor the movement of the inventory. Innovative software systems significantly reduce operational costs and time in large warehouses.

Competitive landscape and key vendors

The inventory tags market is highly fragmented owing to the presence of several international, regional, and local players. Key players have well-diversified geographical presence and resources. Barcode and QR-code based inventory tag vendors compete intensely, by providing software and accessories to customers that complement the inventory tags in managing the assets. However, the RFID and NFC-based inventory tags vendors are limited in the inventory control tags market due to little technical knowledge.

The leading vendors in the market are

• 3M
• AVERY DENNISON
• Alien Technology
• Brady
• Tyco Sensormatic

The other prominent vendors in the market are Checkpoint Systems, Confidex, General Data, Honeywell International, Impinj, Invengo Technology, Metalcraft, Motorola Solutions, NXP Semiconductors, Omni-ID, SATO, SMARTRAC, Wavetrend, and ZIH.

Segmentation by product and analysis of the inventory tags market

• Barcode
• RFID

Barcode-based inventory tags are preferred by the end-users, influenced by the growing demand for secure inventory management and control systems, especially from high-end and luxury product segments. The low-cost of production and ease offered by these barcode-based tags is contributing towards their popularity in the various end-user industries in the market. Supermarket point of sales (PoS), libraries, and consumer retail sectors essentially deploy barcodes, contributing to the growth of the inventory control tags market.

Geographical segmentation and analysis of the inventory tags market

• Americas
• APAC
• EMEA

The Americas contains several highly organized industries and retail sectors that maintain large inventories and use inventory tags for asset and product management across the wide supply chain. In the Americas, the US and Canada are the major retail chain centers that will enhance the economic condition and improve the trade growth for the inventory control tags market in these regions.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global inventory tags market?
• What are the key market trends impacting the growth of the global inventory tags market?
• What are the challenges to market growth?
• Who are the key vendors in the global inventory tags market?
• What are the market opportunities and threats faced by the vendors in the global inventory tags market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global inventory tags market?

Technavio also offers customization on reports based on specific client requirement.

According to this forthcoming market research report on the global inventory tags market, the rising adoption of RFID technology for inventory management in developing countries is expected to contribute to this market's growth in the coming years. To help the clients dominate niche market segments, this report on the inventory tags market covers geographies like the Americas, APAC, and EMEA.

This market research report on the global inventory tags market provides a detailed insight into the drivers stimulating the growth of the heavy industry. Our research analysts follow a scrupulous data collection methodology and present a detailed insight into the rapidly changing market segments like tools and components. Furthermore, to help clients gain competitive advantage, this market research report covers vendors like 3M, Avery Products, and Alien Technology.  

The upcoming industry research report for inventory tags market also categorizes the major drivers, key trends, along with the restraints that the tools and components sector currently experiences. This report on the inventory tags market presents insights into the rapidly changing competitive landscape to give clients a complete outlook of the forthcoming events within the heavy industry. Technavio also offers in-depth market assessments into the sectors such as construction and unit operations. 

Technavio also offers clients the possibility to customize every report to suit their specific requirements and offers attractive discounts on all forthcoming reports and future purchases.