Global Smart Label Market

Global Smart Label Market Size, Share, Growth Analysis, By Technology(Electronic Article Surveillance (EAS), RFID), By End User(Retail, Food), By Component(Batteries, Transceivers) - Industry Forecast 2023-2030


Report ID: SQSG45E2017 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 98 | Figures: 76

Global Smart Label Market Insights

Global Smart Label Market size was valued at USD 11.69 billion in 2021 and is poised to grow from USD 15.57 billion in 2022 to USD 35 billion by 2030, growing at a CAGR of 16.2% in the forecast period (2023-2030).

A smart label is a label that uses technology to go beyond conventional print methods in terms of functionality and information. This can take many different forms, including near-field communication, QR codes, and RFID tags (NFC). These labels depend on a user's engagement with a consumer product, such as a smartphone, to enable a user's interaction. The creation of intelligent labels introduces additional demands for the manufacturing process, such as functional or performance testing to regulate the quality of RFID labels and the possibility to encode each label with data relevant to the client. These qualities might add value to conversion equipment or open up new service options. A typical label printing business can use these labels as the starting point of the label value chain to boost profitability and turnovers.

For example, Advantech, a pioneer in embedded system solutions, is pleased to introduce the EPC-P3000 series, their newest range of embedded PCs designed for machine vision applications. The EPC-P3000 is powered by the Intel 9th Gen Desktop CPU platform and has many expansion slots to allow high computational performance and the deployment of high-precision machine vision at the edge. In unmanned warehouses, edge computers can identify, classify, and label hundreds of distinct goods. In fully automated factories, edge computers can analyze the manufacturing process holistically and command robotic arms.

US Smart Label Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 11.69 billion

Largest Segment

RFID

Fastest Growth

RFID

Growth Rate

16.2% CAGR

Global Smart Label Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Smart Label Market Size by Type 2021-2028 ($ Mn)
Global Smart Label Market Size by Type 2021-2028 (%)

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Global Smart Label Market Segmental Analysis

Global smart label market is segmented based on the technology, end user, and region. Based on the technology, the global smart label market is segmented as electronic article surveillance (EAS), RFID, near field communication (NFC), and QR code. Based on end user, the global smart label market is segmented as retail, food and beverages, healthcare & pharmaceuticals, consumer electronics, supply chain and logistics, transportation, and others. Based on component, the Smart Label Market is segmented into batteries, transceivers, microprocessors, others. Based on region, Smart Label Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Smart Label Market Analysis by Technology

In 2021, the RFID segment held the largest share in the global smart label market. The major companies in the RFID market, which are either converters, inlays, or tag makers, often create significant volumes of intelligent labels. However, there are also a number of label makers who concentrate on specific labels and applications. RFID labels provide various benefits. For example, when manufacturers and distributors integrate RFID technology into their supply chain, shipping and picking accuracy increases by 80%. When manufacturers and distributors integrate RFID technology into their supply chain, receipt times improve by 90%. When RFID technology is used, warehouses and DCs increase their inventory visibility and availability from 2% to 20%. Companies using RFID report an increase in accuracy of their inventory counts of between 63 and 95 percent. Manufacturers may boost inventory count rates from 200 to 12,000+ items per hour with RFID-tagged goods.

Following this, the NFC segment is also expected to observe significant growth in the global smart label market during the forecast period. In the pharmaceutical sector, NFC tags are essential. NFC makes it possible for customers and pharmacists to verify the goods. Even if the manufacturing seal is damaged, the NFC labels can still be read. The NFC technology's excellent capabilities would guarantee market expansion in the near future. According to Blue Bite's cumulative statistics, new NFC activations increased by 71% between 2018 and 2020, while NFC engagements increased by 63% within the same time frame. Even more significantly, the overall NFC reach increased by 82 percent during that time. According to ABI Research, there will be 1.6 billion NFC-enabled devices worldwide by 2024 when we take a larger perspective on NFC deployment. The whole NFC market value is expected to reach $47 billion by that same year, according to that association. The number of smartphones in use worldwide has reached an all-time high of 3.4 billion. More than 2 billion NFC capable devices, mostly phones, are in use today.

Furthermore, nowadays, it's common to see QR codes. Thanks to a rise in smartphone adoption that will reach 78.05 percent worldwide by 2020 from 59.01 percent in 2017. And the percentage of people with access to high-speed mobile internet rose from 48.8% in 2014 to 62.5 percent in January 2022. Internet users have also increased from January 2021 to January 2022 by 4%. Mobile phone users own 92.1 percent of the total number of devices in this country. These elements have contributed to QR Codes' widespread popularity. Further, boosting the growth of the global smart label market.

Smart Label Market Analysis by End User

In 2021, the retail segment held the largest share for the global smart label market. The e-commerce and m-commerce industries' breakthroughs and convergence are causing retailers to reevaluate their ideas and products, which is causing the global retail environment to change every day. Since a few years ago, the retail sector has undergone a transformation to adopt RFID technology, which accounts for the biggest number of labels and tags produced to date. Although COVID-19 has worsened the difficulties previously faced by shops, the epidemic has also forced them to implement RFID on a far wider scale. Accenture's study indicates that 24% of survey respondents said they are now thinking about integrating RFID into their operations, while 46% of respondents said they had just begun focusing on RFID. In addition, 87% of respondents said that concentrating on RFID helped them have a better omnichannel shopping experience throughout the epidemic.

Following this, the food and beverages segment is also expected to see a significant rise during the forecast period. The increasing use of RFID and NFC tags in food and beverage items is anticipated to drive the growth of the global smart label market over the projected period. Customer interaction and happiness are two key elements that influence the industry's adoption of digital technologies. For example, the UTK-752 is an interactive touchscreen kiosk designed for automated self-service businesses, and it has just been released by Advantech, a top developer of service automation solutions. The off-the-shelf modular UTK-752 system offers outstanding computing performance for a variety of self-service applications. It supports a variety of operating systems to enable simple integration with current systems and business software. The availability of numerous I/O also enables the system to be coupled with other peripherals, such as an RFID reader, to expand the system's capabilities for a variety of self-service tasks. Additionally, the UTK-752 is a flexible solution for self-order, self-checkout, self-registration, check-in, queue management, ticketing, pick and collect service, and virtual reception applications thanks to its modular construction, which allows for both countertop and freestanding presentations.

Global Smart Label Market Size by Type, 2021 (%), 2021 (%)

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Global Smart Label Market Regional Insights

In 2021, the North American segment held the largest share for the global smart label market. The basic goal of smart labels is to speed up digital access to information. The percentage of the population in the Americas that can access a mobile cellular signal, or mobile cellular coverage, is assessed by the ITU to be 95.5%. 95.5 percent of the population can get a 3G signal, and 88.7 percent can access a long-term evolution (LTE) mobile broadband signal, according to statistics on 3G and 4G coverage. At the end of 2019, there was a large use disparity, with the percentage of people using the Internet rising from 72.2% in 2017 to 76.7%. By the end of 2019, 69.8% of households had access to the Internet at home, up from 66.7% in 2017.

One of the first nations to use QR codes was the United States. Its use has since sharply grown. According to Statista research, 11 million US homes alone scanned a QR code in 2020. From 9.76 million scans in 2018, there has been a considerable increase. 18.8% of American customers strongly agreed that they had seen an increase in the usage of QR codes since the start of COVID-19-related shelter-in-place orders in March 2020, according to a September 2020 poll by Statista.

During the projected period, the Asia Pacific is anticipated to facilitate a fantastic CAGR in the global smart label market. Demand for intelligent labels in the region is probably being driven by government regulations and legislation requiring that products be labeled. A proposal to put barcodes or rapid response (QR) tags on the packaging of 300 of the most popular medications in India has been reintroduced in order to ease product verification. The rule is expected to go into effect at the beginning of May 2023. Drug packaging barcode proposals have existed since the Indian government published a draft proposal for comment in 2015. According to the most recent suggestion, a barcode or QR code should have eight bits of data: a unique product identification code, generic name, brand name, production date, batch number, expiration date, and manufacturing license number.

Global Smart Label Market By Geography, 2021 - 2028, 2023-2030
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  • Fastest

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Global Smart Label Market Dynamics

Smart Label Market Driver

  • The federal disclosure rule for genetically modified organisms (GMOs), which was established by the U.S. government, may be complied with using a smart label. The brands are required by this federal regulation to provide the product information in one of three different methods, including writing on the packaging, a symbol, or via a digital connection like a smart label. Through digital disclosures, buyers can learn more about the product than they might from a word or symbol.

To forecast how SmartLabel would be adopted in the future by the industry, GMA conducted member polls. 36 businesses joined the project at the start, promising to label around 34,000 products on the market by the end of 2017. 48 additional businesses agreed to join the initiative, but they required more time to create an implementation schedule.

  • Due to the rising use of digital services, there is a growing need for reliable anti-theft devices and product identification, which is what is largely driving the growth of the global market. According to studies, digital transformation and a focus on the customer experience may result in a 20–30% rise in customer satisfaction and a 20–50% boost in economic growth. The industry is also expected to grow as a result of more corporate mergers and acquisitions and technological advancements in intelligent goods.

Smart Label Market Restraint

  • One of the main barriers found is traditional label printing firms' underinvestment in digital printing services. Due to the high cost of such systems, traditional market actors are still hesitant to invest in them. This can hinder the growth of the global smart label market.
  • Despite the fact that smart labels with embedded chips are very useful for business and industrial applications, they do have several drawbacks, including a lack of universal applicability, safety issues, and an inability to survive extreme weather. These restrictions might seem commonplace, but they might prevent the global smart label market from expanding. The smart labels must face the sun when used for shipping, and when exposed to sunshine, the solvents used to print on the smart labels dissolve, dissolving the printing on the labels.

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Global Smart Label Market Competitive Landscape

The global smart label market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, the purchase of UNITER is announced by Checkpoint Systems. Together with Checkpoint's top-notch worldwide manufacturing footprint and extensive RFID expertise, Uniter's strong commercial presence in the significant Iberian clothes retail industry makes for an unbeatable combination. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.

Smart Label Market Top Player’s Company Profile

 

  • Avery Dennison Corporation
  • CCL Industries Inc.
  • Zebra Technologies Corporation
  • SATO Holdings Corporation
  • Alien Technology LLC
  • Thin Film Electronics ASA
  • Invengo Technology Pte Ltd.
  • Muhlbauer Holding AG & Co. KGaA
  • Smartrac N.V.
  • Graphic Label Inc.
  • Checkpoint Systems, Inc.
  • Intermec Technologies Corporation
  • Tageos SAS
  • Shenzhen Toppan Forms Card Technologies Co. Ltd.
  • Brady Corporation
  • Applied DNA Sciences, Inc.
  • Bizerba SE & Co. KG
  • Tyco Retail Solutions
  • Thinfilm Electronics, Inc.
  • PragmatIC Printing Ltd.

Smart Label Market Recent Developments

  • In June 2022, Leading manufacturer of sustainability security labels, Checkpoint Systems, revealed the findings of an independent study that showed its clear RF labels and RFID inlays can be recycled as part of household recycling collections. Checkpoint Systems is continuing its drive to support all of its customers' recyclability and sustainability initiatives. The recognised environmental services company Interseroh+, with headquarters in Germany, completed the research to certify the Made For Recycling status of Checkpoint's line of transparent RF labels and RFID inlays. This indicates that they don't need to be removed from packaging in order to be recycled as part of standard household recycling.
  • In May 2022, Checkpoint Systems created a comprehensive RFID system that offers very precise traceability from source to store by utilising its significant knowledge in RF/RFID technology and experience working with some of the most prominent beverage companies in the world. Retailers may obtain precise, dependable, and traceable real-time insights into products at the item level with the use of two components: an RFID Box Tunnel and an optional RFID tag or RF-RFID Dual Technology Tag.

Global Smart Label Key Market Trends

  • Food packaging with smart labelling is increasingly being used by manufacturers. A developing market trend is consumers' increased interest in the moral standing and health advantages of foods and beverages. More information regarding the safety and morality of food and drink may be supplied because of smart labels' increased informational capacity. For instance, product provenance can be included on smart labels. Customers gain significantly from every stage of the food production process, from farm to fork, including recipes and monitoring food freshness.
  • The most important consideration has always been the price of smart labels, particularly when the market is just getting started. The use of intelligent labels is rising gradually, according to Thinfilm Electronics research. The market is still developing for using a smartphone to interact with the NFC tags on goods. Additionally, NFC solutions are becoming more widely accessible in this industry, which is probably going to increase the pace of use of these labels.

Global Smart Label Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Smart Label Market Analysis, in terms of type, the RFID segment held the largest share in the global smart label market in 2021. The major companies in the RFID market, which are either converters, inlays, or tag makers, often create significant volumes of intelligent labels. By end-user, the retail segment held the largest market share due to the e-commerce and m-commerce industries' breakthroughs and convergence are causing retailers to reevaluate their ideas and products, which is causing the global retail environment to change every day. And by region, the North American region held the largest market share and is expected to dominate the global smart label market during the forecast period owing to the rise in digitization in the region.

Report Metric Details
Market size value in 2021 USD 11.69 billion
Market size value in 2030 USD 15.57 billion
Growth Rate 16.2%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Technology
    • Electronic Article Surveillance (EAS), RFID, Near Field Communication (NFC), QR Code
  • End User
    • Retail, Food, Beverages, Healthcare & Pharmaceuticals, Consumer Electronics, Supply Chain, Logistics, Transportation, Others
  • Component
    • Batteries, Transceivers, Microprocessors, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Avery Dennison Corporation
  • CCL Industries Inc.
  • Zebra Technologies Corporation
  • SATO Holdings Corporation
  • Alien Technology LLC
  • Thin Film Electronics ASA
  • Invengo Technology Pte Ltd.
  • Muhlbauer Holding AG & Co. KGaA
  • Smartrac N.V.
  • Graphic Label Inc.
  • Checkpoint Systems, Inc.
  • Intermec Technologies Corporation
  • Tageos SAS
  • Shenzhen Toppan Forms Card Technologies Co. Ltd.
  • Brady Corporation
  • Applied DNA Sciences, Inc.
  • Bizerba SE & Co. KG
  • Tyco Retail Solutions
  • Thinfilm Electronics, Inc.
  • PragmatIC Printing Ltd.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Smart Label Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Smart Label Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Smart Label Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Smart Label Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Smart Label Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Smart Label Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Smart Label Market size was valued at USD 11.69 billion in 2021 and is poised to grow from USD 15.57 billion in 2022 to USD 35 billion by 2030, growing at a CAGR of 16.2% in the forecast period (2023-2030).

The global smart label market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, the purchase of UNITER is announced by Checkpoint Systems. Together with Checkpoint's top-notch worldwide manufacturing footprint and extensive RFID expertise, Uniter's strong commercial presence in the significant Iberian clothes retail industry makes for an unbeatable combination. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'Avery Dennison Corporation', 'CCL Industries Inc.', 'Zebra Technologies Corporation', 'SATO Holdings Corporation', 'Alien Technology LLC', 'Thin Film Electronics ASA', 'Invengo Technology Pte Ltd.', 'Muhlbauer Holding AG & Co. KGaA', 'Smartrac N.V.', 'Graphic Label Inc.', 'Checkpoint Systems, Inc.', 'Intermec Technologies Corporation', 'Tageos SAS', 'Shenzhen Toppan Forms Card Technologies Co. Ltd.', 'Brady Corporation', 'Applied DNA Sciences, Inc.', 'Bizerba SE & Co. KG', 'Tyco Retail Solutions', 'Thinfilm Electronics, Inc.', 'PragmatIC Printing Ltd.'

The federal disclosure rule for genetically modified organisms (GMOs), which was established by the U.S. government, may be complied with using a smart label. The brands are required by this federal regulation to provide the product information in one of three different methods, including writing on the packaging, a symbol, or via a digital connection like a smart label. Through digital disclosures, buyers can learn more about the product than they might from a word or symbol.

Food packaging with smart labelling is increasingly being used by manufacturers. A developing market trend is consumers' increased interest in the moral standing and health advantages of foods and beverages. More information regarding the safety and morality of food and drink may be supplied because of smart labels' increased informational capacity. For instance, product provenance can be included on smart labels. Customers gain significantly from every stage of the food production process, from farm to fork, including recipes and monitoring food freshness.

In 2021, the North American segment held the largest share for the global smart label market. The basic goal of smart labels is to speed up digital access to information. The percentage of the population in the Americas that can access a mobile cellular signal, or mobile cellular coverage, is assessed by the ITU to be 95.5%. 95.5 percent of the population can get a 3G signal, and 88.7 percent can access a long-term evolution (LTE) mobile broadband signal, according to statistics on 3G and 4G coverage. At the end of 2019, there was a large use disparity, with the percentage of people using the Internet rising from 72.2% in 2017 to 76.7%. By the end of 2019, 69.8% of households had access to the Internet at home, up from 66.7% in 2017.

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Global Smart Label Market

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