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Based on technology, Smart Labels Market is categorized into RFID, EAS, Sensing, NFC tags, and dynamic display or electronic shelf

Author : Ronak Bora | Published Date : 2019-03-22 

Smart labels market on the basis of technology, are classified into RFID, EAS, Sensing, NFC tags, and dynamic display or electronic shelf. RFID is projected to grow fast during prediction period, owing to its features such as information accuracy, automatic data capture, flexibility to be applied on several substrates, and real-time tracking. RFID systems are highly chosen to maintain synchronized inventory management and supply chain management systems. These are used in variety of industry sector such as automotive and FMCG, due to high traceability. RFID, combined with asset tracking software, can synchronize process of repairs and maintenance for organizations. Dynamic display in the smart labels market will also witness significant growth, owing to its ability to display product information and pricing for accuracy and easy price management.

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The smart labels market is segmented on the basis of components, technology, applications, and end-use industry. Based on components used, the market is segmented into transceivers, batteries, memories, microprocessors, and antenna. Memories are projected to exhibit considerable growth, owing to its increasing use in asset tracking and inventory management.

The technology provides benefits such as simple functioning and reliability. Some other advantages include prevention against counterfeiting and theft protection, which are expected to escalate the smart labels market growth. Companies are increasingly investing to improve anti-theft systems to reduce inventory damage and revenue loss due to theft and shop lifting. Counterfeit is one of the serious issues, which leads to brand deterioration & poor product performance and threatens consumer safety. Increasing focus of the industries to reduce counterfeit problems is anticipated to impact smart labels market demand positively, particularly from manufacturing and automotive sectors.

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Smart labels market on the basis of applications segments are equipment, electronic & IT asset, pallet, retail & inventory tracking, security access, perishable goods, smart wrist bands for patient care, and reusable goods. Perishable goods segment is expected to gain traction over the future in the smart labels market. Sensing labels are used in this industry, owing to its ability to track changes in oxygen, temperature, and other environmental factors. These are being widely used in shelf-life monitoring and threshold detection in pharmaceutical and food & beverage industries.

Asia Pacific is anticipated to be the fastest growing smart labels market over the forecast timeframe, owing to the rapid industrialization, low labor costs, and increasing FDI opportunities in the retail sector. The growth is attributed to changing economic conditions, rapid urbanization, increasing per capita income, and flourishing industries in automotive and food & beverages sector.

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Players in the smart labels market include Avery Dennison Corporation, CCL Industries Inc., Toshiba Global Commerce Solutions, Inc., Muhlbauer Holding Ag & Co. KGaA., Smartrac N.V., Thin Film Electronics ASA, Advantech US, Zebra Technologies, Metra Blansko, Graphic Label, Inc., Invengo Technology BV, and Checkpoint Systems.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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