A smart label, also known as a smart tag, lies under the conventional print-coated label and includes an antenna, chips, and bonded wires. Smart labels are made from fabric, plastic, or paper and are used as chip labels, printable labels, and electronic labels. According to the smart label market research, the market is currently witnessing significant growth and is expected to reach a CAGR of approximately 17% during the forecast period.
Many industries in the developed countries have made a shift to smart labels from traditional paper labels. Approximately 67 million automotive, healthcare, and logistics companies around the world, primarily in Euro-America, Australia, Turkey, Japan, and Korea, are currently using smart labels in the tracking of products.
This market is supported by several factors and a key smart label market driver is the growth of its customer segments. The demand for RFID smart labels from the retail industry, in particular, is expected to rise significantly in the next four years.
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Key customer segments for the smart label market
The retail segment emerged as the largest consumer of smart labels in 2014. The growth if this segment is largely attributed to the rise in the number of supermarket chains in emerging markets such. Wal-Mart has announced its plans to open more than 1200 retail stores in Africa by 2016. Similarly, Carrefour SA has formed a joint venture with CFAO SA to expand its operations in African countries like Cameroon, Congo, Ivory Coast, The Democratic Republic of Congo, Gabon, Ghana, Nigeria, and Senegal. With substantial investments in smart labels, the retail segment is expected to dominate the market in the coming years.
According to the smart label market analysis, the key customer segments include: -
Data center and library
Food and beverage
Logistics and transportation
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Segmentation of the smart labels market by type
RFID labels emerged as the largest smart labels market revenue contributor. As per the forecast, this segment will continue to dominate the market with the growing demand for passive RFID tags, networking, and software solutions for many industries in the APAC region. This region is also expected to witness the fastest growth during the forecast period.
The electronic shelf label segment is also expected to witness rapid growth due to its high adoption in hypermarkets and supermarkets. The adoption of electronic shelf label technology offers benefits to retailers in terms of minimization of labor, price integrity, and optimization of inventory. This segment is expected to reach over $1 billion in revenue by 2019.
The electronic article surveillance label market is currently witnessing saturation of demand in the US and Western European market. The segment is likely to witness new technological advances and growing demand from emerging markets.
The different types of smart labels in the market include: -
Electronic article surveillance labels
Electronic shelf labels
Leading vendors of the smart label market
The market landscape of smart labels is highly competitive with many local players offering innovative solutions at lower prices. Vendors in the market are also finding huge scope for innovation because of the increased demand for quality packaging and labeling.
According to the smart label market forecast, the leading vendors in this market are: -
The other prominent players in the market include Advantech, Altierre, Antiope, Checkpoint, Displaydata, Genitop, Graphixlabels, Herbert retail, ILID, METRA, Mirador, Muhlbauer, Opticon, Sato Holdings, Tangentics, Teraoka, Thin Film, Toshiba, UNO, and Zebra Technologies.
Other sections of the report include an analysis of the following
Market shares and forecast for the key regions of North America, Europe, APAC, and ROW
The emergence and growth of UWI technology and its impact on the food industry
Key drivers, challenges, and trends and their impact on the smart label market
Five forces analysis of the smart label market
SWOT analysis of the leading companies in the smart label market
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