Inventory Tags Market Size, Share, Growth Analysis, By Type(Plastic, Paper), By Technology(RFID, Barcode), By End User(Industrial, Retail) - Industry Forecast 2024-2031

Global Inventory Tags Market size was valued at USD 5.16 billion in 2022 and is poised to grow from USD 5.42 billion in 2023 to USD 7.50 billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).

The market for inventory tags has grown to offer a variety of options, such as RFID tags in addition to basic barcode tags. Barcode tags are inexpensive and often used, but RFID tags offer automation and real-time tracking. Additionally, there are specialty tags designed for types of organizations, such tamper-evident security tags or robust tags meant for outdoor use. The market for inventory tags is expected to grow because of several factors, including the rise in e-commerce, the growing need for effective inventory management, and the growing usage of automation technologies. The need for enhanced inventory tagging systems is growing as companies look for greater visibility into their supply chains and more effective operations.

Throughout the forecast period of 2023 to 2032, the sector with the biggest market share was digital printing. High-resolution and detailed printing are made possible by digital printing technology, enabling the production of inventory tags that are both aesthetically pleasing and useful. This is particularly valid for tags bearing barcodes, QR codes, or other identifying information. Digital printing is more affordable for small to medium print runs. Businesses that need fewer customized tags in smaller quantities may find digital printing to be more cost-effective than traditional printing processes, which may have greater initial expenses. As digital printing allows for on-demand printing, it reduces waste. Digital printing, as opposed to traditional printing techniques, which could call for enormous print runs, enables companies to produce only what they require now, cutting down on waste and needless inventory.