Smart Label Global Market 2024 To Reach $18.9 Billion By 2028 At Rate Of 14.7%

LONDON, GREATER LONDON, UK, August 13, 2024 /EINPresswire.com/ --
The smart Label market has experienced robust growth in recent years, expanding from $9.38 billion in 2023 to $10.91 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to retailer demand for efficiency, supply chain optimization, cost reduction strategies, increased counterfeit concerns, data analytics integration.

Strong Future Growth Anticipated
The smart Label market is projected to continue its strong growth, reaching $18.9 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to brand authentication, consumer demand for sustainability, e-commerce growth, personalized consumer experiences, health and safety concerns, connected packaging ecosystem.

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Growth Driver Of The Smart Label Market
The increasing demand from end users such as the food and beverage industry is expected to boost the growth of the smart label market going forward. The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food. Smart labels add traceability to the product which is important for tracing the source of the food that helps in preventing fake goods, as a result, increasing demand from end users such as the food and beverage industry increases the demand for the smart label market.

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Major Players And Market Trends
Key players in the smart Label market include Avery Denison Corporation, CCL Industries Inc., Checkpoint Systems Inc., Thin Film Electronics ASA, Alien Technology Inc., Zebra Technologies Corporation.
Major companies operating in the smart labels market are focused on developing smart labeling solutions, such as intelligence-driven labeling solutions, to address the complexities in global label management and maximize their profits in the market. An intelligence-driven labeling solution refers to a system or platform that utilizes advanced technologies to enhance and optimize the processes involved in labeling products or information.

Segments:
1) By Component: Batteries, Transceivers, Microprocessors, Memories, Other Components
2) By Labeling Technology: Radio Frequency Identification (RFID), NFC Tags, Electronic Article Surveillance (EAS), Sensing Labels, Electronics Shelf Labels
3) By Printing Technology: Flexographic Smart Labels, Digital Smart Labels, Gravure Smart Labels, Screen Smart Labels
4) By Application: Retail Inventory, Perishable Goods
5) By End-User: Retail, Healthcare And Pharmaceuticals, Food And Beverages, Consumer Electronics, Supply Chain and Logistics, Transportation, Other End Users

Geographical Insights: North America Leading The Market
North America was the largest region in the smart labels market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global smart label market during the forecast period. The regions covered in the smart label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Smart Label Market Definition
Smart labels are special labels that contain advanced technology to provide additional information beyond a traditional label. It is used as directions for using or preparing the product, tips for recycling the packaging, warnings about safety and handling, and scrumptious recipes.

Smart Label Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Smart Label Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on smart Label market size, smart Label market drivers and trends, smart Label market major players, smart Label competitors' revenues, smart Label market positioning, and smart Label market growth across geographies. The smart Label market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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