The smart labels market size is projected to grow from USD 11.43 billion in 2024 and is projected to reach USD 17.33 billion by 2029, at a CAGR of 8.7%. The smart labels market has a promising future due to these labels utilizing RFID, QR codes, and NFC tags. They provide interactive and web-based solutions that provide information about the products' quality, improve overall visibility, and promote full tracking. Smart labels have a traceability feature using a unique ID, which allows the various stakeholders to follow the products' life cycle to provide information on procurement and avoid gray market infringement. Consumer awareness leads to more awareness of the origin of products and their attributes, which leads to the adoption of such technologies.
Scope of the Report
Years Considered for the Study
2022-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Million) and Volume (Million Units)
Segments
Technology, Application, Component, End-use Industry, and Region
Regions covered
North America, Asia Pacific, Europe, Middle East & Africa, and South America
"NFC tags are projected to be the second largest segment by technology in smart labels market"
NFC technology allows two devices to communicate wirelessly and non-intrusively, which is essential for the retail, health, and transportation sectors. NFC tags are used by retailers for purposes of improving customers' shopping experience through activation of their mobile phones, where the customers can gain access the information on the products they are purchasing, check on the genuineness of the products, and engage with the retailers directly on their shopping preferences. The expansion of NFC tags in areas such as contactless payment, inventory tracking, and anti-counterfeiting emphasizes the need for NFC. With industries focusing more on digital and customer concerns, the market requires NFC-based solutions.
"FMCG is projected to be the third largest segment by end-use industry in smart labels market"
FMCG is the third-largest end-use industry in the smart labels market due to the high demand of FMCG industries for smart inventory tracking, improved consumer interaction, and product identification. As the products of FMCG have a short product life cycle, most businesses utilize the smart label to track their products, thus reducing losses, minimizing losses, and restocking on time. Smart labels also help to trace and authenticate the origin of products, particularly in high-value FMCG products, as the frequency of counterfeits remains high, much to the consumer's demand for more sustainability and ethical standards. Smart labels can be integrated with the sector's needs based on scalability and cost performance, thus increasing its market demands and enhancing the position of the FMCG industry.
"Microprocessors is the third largest segment by component in smart labels market during forecast region."
Microprocessors are the third largest component segment in the smart labels market because they facilitate processing, storing, as well as communicating information within smart label systems. These components are at the core of smart labels, through enabling technologies such as RFID, NFC, and sensing labels. Some of the key operations that microprocessors make it easy for labels to carry out include real-time tracking, temperature tracking of perishable items, and refreshed displays for interactiveness. Their integration enables the improvements of automation in inventory and wholesales, which is crucial for business sectors ranging from retail to healthcare and logistics. The increasing number of complicated labelling operations like secure data encryption and multi-password systems which require more than two points of control also increases the need for microprocessors.
"Asia Pacific accounts for the second-largest share in smart labels market by region"
Retail, FMCG, and logistics industries are some of the fastest-growing industries in Asia Pacific, driving demand for smart labels and their uses in improving supply chain visibility, managing stock, and engaging consumers. Another factor is Asia Pacific's importance in electronics manufacturing since some of the important components of smart labels, such as RFID tags and microprocessors are available at comparatively low costs in this region. The growth of e-commerce across emerging markets such as China, India, and Southeast Asia has intensified the demands for effective tracking and authentication systems that propel the smart labels market.
By Company Type: Tier 1: 25%, Tier 2: 42%, and Tier 3: 33%
By Designation: C-level Executives: 20%, Directors: 30%, and Others: 50%
By Region: North America: 20%, Europe: 10%, Asia Pacific: 40%, South America: 10%, Middle East & Africa 20%
Notes: Others include sales, marketing, and product managers.
Tier 1: >USD 1 Billion; Tier 2: USD 500 million-1 Billion; and Tier 3: <USD 500 million
Companies Covered: Avery Dennison Corporation (US), CCL Industries, Inc. (Canada), Zebra Technologies Corporation (US), SATO Holdings Corporation (Japan), and others are covered in the smart labels market.
The study includes an in-depth competitive analysis of these key players in the smart labels market, with their company profiles, recent developments, and key market strategies
Research Coverage
This research report categorizes the smart labels market by technology, (RFID labels, EAS labels, NFC labels, sensing labels, and others), by application, (retail & inventory tracking, perishable goods, electronic & IT assets, pallet tracking, equipment, and others), by end-use industry (FMCG, logistics, retail, healthcare, manufacturing, automotive, and other end-use industries), by component (batteries, transceivers, microprocessors, memories, and others) and by region (Asia Pacific, North America, Europe, South America, and Middle East & Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the smart labels market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product launches, acquisitions, and recent developments associated with the smart labels market. Competitive analysis of upcoming startups in the smart labels market ecosystem is covered in this report.
Reasons to buy the report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall smart labels market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (Growth of e-commerce), restraints (High cost of smart label technology), opportunities (Integration of the Internet of Things (IoT) with smart labels), and challenges (Data privacy and security challenges).
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the smart labels market
Market Development: Comprehensive information about profitable markets - the report analyses the smart labels market across varied regions.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the smart labels market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Avery Dennison Corporation (US), CCL Industries, Inc. (Canada), Zebra Technologies Corporation (US), SATO Holdings Corporation (Japan), among others in the smart labels market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED AND REGIONAL SCOPE
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.3.5 UNITS CONSIDERED
1.4 LIMITATIONS
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key primary participants
2.1.2.2 Breakdown of interviews with experts
2.1.2.3 Key industry insights
2.2 MARKET ESTIMATION
2.2.1 TOP-DOWN APPROACH
2.2.2 BOTTOM-UP APPROACH
2.3 BASE NUMBER CALCULATION
2.3.1 DEMAND-SIDE APPROACH
2.3.2 SUPPLY-SIDE APPROACH
2.4 GROWTH FORECAST
2.4.1 SUPPLY SIDE
2.4.2 DEMAND SIDE
2.5 DATA TRIANGULATION
2.6 RESEARCH ASSUMPTIONS
2.7 FACTOR ANALYSIS
2.8 RESEARCH LIMITATIONS
2.9 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN SMART LABELS MARKET
4.2 SMART LABELS MARKET, BY TECHNOLOGY
4.3 SMART LABELS MARKET, BY COMPONENT
4.4 SMART LABELS MARKET, BY APPLICATION
4.5 SMART LABELS MARKET, BY END-USE INDUSTRY
4.6 NORTH AMERICA: SMART LABELS MARKET, BY TECHNOLOGY & COUNTRY
4.7 SMART LABELS MARKET, BY KEY COUNTRY
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Protection against theft, loss, and counterfeiting
5.2.1.2 Lack of human intervention
5.2.1.3 Single products can be used instead of multiple technologies
5.2.1.4 Reduced tracking time
5.2.1.5 Increasing retail sales to accelerate smart labels market growth
5.2.2 RESTRAINTS
5.2.2.1 Lack of standards
5.2.2.2 Technical limitations
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing demand in logistics
5.2.3.2 Technological advancements in printed electronics
5.2.3.3 Introduction of new technologies such as electronic shelf/dynamic display labels
5.2.3.4 Huge opportunities in healthcare, automotive, and chemical sectors
5.2.3.5 Reliable and easy real-time tracking
5.2.4 CHALLENGES
5.2.4.1 Reflection and absorption of RF signals by metallic and liquid objects
5.2.4.2 High initial cost
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE OF KEY PLAYERS, BY TECHNOLOGY, 2023
5.5 VALUE CHAIN ANALYSIS
5.6 ECOSYSTEM ANALYSIS
5.7 TECHNOLOGY ANALYSIS
5.7.1 KEY TECHNOLOGIES
5.7.1.1 Printed BLE labels
5.7.1.2 Battery-Free BLE labels
5.7.1.3 RFID temperature sensing labels
5.7.2 COMPLEMENTARY TECHNOLOGIES
5.7.2.1 Miniaturized and flexible RFID tags
5.7.2.2 Cloud connectivity in smart labels
5.7.2.3 Thermochromic inks
5.8 IMPACT OF GEN AI/AI ON SMART LABELS MARKET
5.9 PATENT ANALYSIS
5.9.1 INTRODUCTION
5.9.2 METHODOLOGY
5.9.3 SMART LABELS, PATENT ANALYSIS, 2014-2023
5.10 TRADE ANALYSIS
5.10.1 EXPORT SCENARIO (HS CODE 8523)
5.10.2 IMPORT SCENARIO (HS CODE 8523)
5.10.3 EXPORT SCENARIO (HS CODE 4821)
5.11 KEY CONFERENCES AND EVENTS IN 2025
5.12 TARIFF AND REGULATORY LANDSCAPE
5.12.1 TARIFF ANALYSIS
5.12.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.12.3 STANDARDS
5.12.3.1 ARC program
5.12.3.2 ISO/IEC 15459
5.12.3.3 ISO/IEC 18000
5.12.3.4 EPC global Standards
5.13 PORTER'S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF BUYERS
5.13.3 THREAT OF NEW ENTRANTS
5.13.4 BARGAINING POWER OF SUPPLIERS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.14.2 BUYING CRITERIA
5.15 CASE STUDY ANALYSIS
5.15.1 AVERY DENNISON'S DIRECTLINK BOOSTS CONSUMER ENGAGEMENT FOR MINERAL FUSION COMPANY
5.15.2 INVENGO RFID SOLUTION ENHANCES SUPPLY CHAIN EFFICIENCY FOR FASHION APPAREL BRAND IN CHINA
5.15.3 AVERY DENNISON AND AMAZON TRANSFORM RETAIL WITH RFID-POWERED JUST WALK OUT TECHNOLOGY
5.16 MACROECONOMIC INDICATORS
5.16.1 INTRODUCTION
5.16.2 GDP TRENDS AND FORECASTS
5.17 INVESTMENT AND FUNDING SCENARIO
6 SMART LABELS MARKET, BY TECHNOLOGY
6.1 INTRODUCTION
6.2 RFID LABELS
6.2.1 VERSATILE ROLE IN DIVERSE APPLICATIONS TO DRIVE MARKET
6.3 EAS LABELS
6.3.1 TECHNOLOGICAL ADVANCEMENTS AND RISE OF E-COMMERCE TO AUGMENT MARKET
6.4 NFC TAGS
6.4.1 PROLIFERATION OF SMARTPHONES EQUIPPED WITH NFC CAPABILITIES PROPEL MARKET
6.5 SENSING LABELS
6.5.1 HIGH DEMAND FROM PHARMACEUTICALS AND COLD CHAIN LOGISTICS TO DRIVE MARKET
6.6 DYNAMIC DISPLAY LABELS
6.6.1 INCREASING AWARENESS TOWARD SUSTAINABILITY AND REAL-TIME UPDATES TO DRIVE MARKET
7 SMART LABELS MARKET, BY COMPONENT
7.1 INTRODUCTION
7.2 BATTERIES
7.2.1 EXPANSION OF E-COMMERCE TO DRIVE MARKET
7.3 TRANSCEIVERS
7.3.1 PUSH TOWARD IOT ADOPTION ACROSS INDUSTRIES TO DRIVE MARKET
7.4 MICROPROCESSORS
7.4.1 GROWING DEMAND FOR LOGISTICS TO PROPEL MARKET
7.5 MEMORIES
7.5.1 INCREASING COMPLEXITIES IN INDUSTRIES TO DRIVE MARKET
7.6 OTHER COMPONENTS
8 SMART LABELS MARKET, BY APPLICATION
8.1 INTRODUCTION
8.2 RETAIL & INVENTORY TRACKING
8.2.1 INCREASING ADOPTION OF TECHNOLOGIES SUCH AS RFID TO DRIVE MARKET
8.3 PERISHABLE GOODS
8.3.1 TRANSFORMING PERISHABLE GOODS TRACKING AND REDUCING FOOD WASTE TO DRIVE MARKET
8.4 ELECTRONICS & IT ASSETS
8.4.1 GROWING ADOPTION OF REMOTE WORK AND HYBRID MODELS TO PROPEL MARKET
8.5 PALLET TRACKING
8.5.1 GROWTH OF E-COMMERCE TO DRIVE MARKET
8.6 EQUIPMENT
8.6.1 INCREASING NEED FOR REAL-TIME VISIBILITY TO PROPEL MARKET
8.7 OTHER APPLICATIONS
9 SMART LABELS MARKET, BY END-USE INDUSTRY
9.1 INTRODUCTION
9.2 LOGISTICS
9.2.1 HIGH DEMAND FROM AMAZON AND DHL TO DRIVE MARKET
9.3 RETAIL
9.3.1 WALMART'S RFID INITIATIVE TO DRIVE MARKET
9.4 FMCG
9.4.1 COUNTERFEIT PRODUCTS CHALLENGES FOR FMCG BRANDS TO PROPEL MARKET
9.5 HEALTHCARE
9.5.1 INCREASING RISK OF COUNTERFEIT DRUGS AND AGING POPULATION TO DRIVE MARKET
9.6 AUTOMOTIVE
9.6.1 RAPID ADOPTION OF ELECTRIC VEHICLES (EVS) TO PROPEL MARKET
9.7 MANUFACTURING
9.7.1 INTEGRATION OF IOT AND INDUSTRY 4.0 TECHNOLOGIES TO AUGMENT MARKET
9.8 OTHER END-USE INDUSTRIES
10 SMART LABELS MARKET, BY REGION
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 US
10.2.1.1 Retail innovations and logistics growth to support market expansion
10.2.2 CANADA
10.2.2.1 Diverse retail growth to drive market
10.2.3 MEXICO
10.2.3.1 Booming retail and technological investments to drive market
10.3 ASIA PACIFIC
10.3.1 CHINA
10.3.1.1 Government initiatives and expanding automotive industry to drive market
10.3.2 JAPAN
10.3.2.1 Increasing cases of counterfeit goods seizures to drive market
10.3.3 INDIA
10.3.3.1 Booming FMCG sales and India's healthcare, medical tourism, and e-health to drive market
10.3.4 AUSTRALIA
10.3.4.1 Growth of e-commerce in Australia to drive market growth
10.3.5 SOUTH KOREA
10.3.5.1 Stringent anti-counterfeit regulations to drive market
10.3.6 REST OF ASIA PACIFIC
10.4 EUROPE
10.4.1 GERMANY
10.4.1.1 Thriving hub for smart labels innovation to drive growth
10.4.2 ITALY
10.4.2.1 Fashion and luxury to drive market
10.4.3 UK
10.4.3.1 Biggest e-commerce market in Europe to drive market
10.4.4 FRANCE
10.4.4.1 Increasing use in diverse sectors to drive market growth
10.4.5 RUSSIA
10.4.5.1 Increasing demand from railway and energy industries to drive RFID market
10.4.6 REST OF EUROPE
10.5 MIDDLE EAST & AFRICA
10.5.1 GCC COUNTRIES
10.5.1.1 SAUDI ARABIA
10.5.1.1.1 Saudi Arabia's vision 2030 to drive market
10.5.1.2 UAE
10.5.1.2.1 UAE's growing logistics sector to drive market
10.5.1.3 Rest of GCC countries
10.5.2 SOUTH AFRICA
10.5.2.1 Increasing prevalence of counterfeit products to drive market
10.5.3 REST OF THE MIDDLE EAST & AFRICA
10.6 SOUTH AMERICA
10.6.1 BRAZIL
10.6.1.1 Focus on achieving safety in industrial operations to augment demand for RFID smart labels
10.6.2 ARGENTINA
10.6.2.1 Urbanization and digital innovation to drive market
10.6.3 REST OF SOUTH AMERICA
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2019-2024
11.3 REVENUE ANALYSIS, 2019-2023
11.4 MARKET SHARE ANALYSIS, 2023
11.5 COMPANY VALUATION AND FINANCIAL METRICS, 2024
11.6 PRODUCT COMPARISON ANALYSIS
11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
11.7.1 STARS
11.7.2 EMERGING LEADERS
11.7.3 PERVASIVE PLAYERS
11.7.4 PARTICIPANTS
11.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
11.7.5.1 Company footprint
11.7.5.2 Technology footprint
11.7.5.3 Component footprint
11.7.5.4 Application footprint
11.7.5.5 End-use industry footprint
11.7.5.6 Region footprint
11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023