Smart labels as a part of advanced item identification and tracking technology are gaining wide acceptance for providing protection against counterfeiting, loss, and theft with minimal human intervention. These labels are increasingly being adopted by industries for as an automated means for validating provenance, tracking assets, and managing supply chain in a number of end-use industries including retail, aerospace, logistics, and automotive.

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Various types of smart labels such as radio-frequency identification (RFID), near-field communication (NFC) tags, electronic article surveillance, and electronic shelf labels are increasingly being used in a variety of end-use applications for automated, real-time tracking. In recent years, constant advancements in sensor technology and tag printing technologies have led to the advent of smart labels equipped with several functionalities, benefitting areas such as food packing, pharmaceutical packaging, and cosmetics. The global smart labels market is projected to rise at a CAGR of 17.0% from 2016 to 2026, and is anticipated to be reach a valuation of US$22.6 billion by the end of the forecast period.

The report offers a critical and detailed assessment of key drivers and challenges, notable trends and opportunities, major technological advancements, the share and size of various segments, regulatory landscape, and competitive dynamics in various regions. The evidence-based insights form a useful guide for market participants in identifying lucrative avenues and imminent investment pockets over the forecast period.

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Smart Labels Market: Trends and Opportunities

The growing demand for an intelligent identification and tracking technology with minimal human intervention in the retail sector in various parts of the world is a key factor driving the global smart labels market. A burgeoning retail sector in several emerging and developed economies is a key factor providing a robust impetus to the market. The adoption of an integrated technology for real-time tracking of assets and products in several end-use areas such as healthcare, automotive, manufacturing, FMCG, logistics, retail, aerospace, and library is boosting the market in various regions.  RFID-enabled smart labels and tags are gaining increased traction for enhancing and improving supply chain efficiencies and streamlining inventory management in various manufacturing industries.

The rising demand for anti-counterfeiting smart labels in the packaging industries is a key trend expected to catalyze the market growth during the forecast period. The vast adoption for smart labels in warehousing businesses world over is a key factor accentuating the market. The advent of configurable smart labels for numerous end-use industries for achieving an easy, reliable, and rapid tracking of assets is anticipated to open up exciting avenues in various regions. For instance, the growing demand for biologics and specialty pharmaceuticals calls for a thermal-sensitive packaging, which in turn is fortifying the demand for novel smart packaging labels with temperature-controlled functionality.           

The burgeoning demand for smart labels in the healthcare, automotive, and logistics industries is likely to create lucrative opportunities for market players to capitalize on in the coming years.

Smart Labels Market: Regional Outlook   

Regionally, North America is a prominent market for smart labels and it accounts for a substantial revenue share of over 40% of the global market. The dominance of the market is mainly attributed to the presence of several prominent players in the region, especially in the U.S. and Canada. The growing adoption of RFID smart labels in several areas, notably in manufacturing and supply chain, is a key factor likely to accentuate the regional market over the forecast period. Asia-Pacific excluding Japan (APEJ) is another prominent market for smart labels and the regional market is predicted to rise at the dominant CAGR during 2016–2026.

Smart Labels Market: Companies mentioned in the report

The global smart labels market features a largely fragmented landscape. However, prominent players aim for consolidation by adopting strategies and expanding their presence in various geographic regions. Several leading players opt for mergers and acquisitions in order to consolidate their shares in the market. Leading players operating in the market include Muehlbauer Holding AG., Thin Film Electronics ASA, Invengo Information Technology Co Ltd., Smartrac N.V., and SATO HOLDINGS CORP.