Asset Tags Market Snapshot (2023 to 2033)

The global asset tags market garnered a market value of USD 1,865.6 million in 2023 and is expected to register a CAGR of 5.60% and is expected to accumulate a market value of USD 3,217.1 million in the forecast period 2023 to 2033.

Growth of the market can be attributed to the increase in the logistics industry and the ease of adding tags due to advancements in technology. The market for asset tags registered a CAGR of 3.30% in the historical period 2018 to 2022.

Data Points Key Statistics
Estimated Base Year Value (2022) USD 1,766.7 million
Expected Market Value (2023) USD 1,865.6 million
Anticipated Forecast Value (2033) USD 3,217.1 million
Projected Growth Rate (2023 to 2033) 5.60% CAGR

Asset tags are used as a barcode or a serial number to help keep track of the movements of the asset or the product. Technological boom has resulted in an ever increasing demand for various products that may be required to be transported over long distances or across continents.

Asset tags are preferred to help keep the end user updated on the location of the asset or product and prevent any property crime.

Attributed to their efficiency, assurance of better customer service and the increased sense of security that they provide, asset tags are used to label many products worldwide. Asset tags are also used to identify, maintain and repair fixed assets, such as road signs, buildings, tunnels, or any system attached to a building.

The global asset tags market is anticipated to grow over the forecast period as an efficient, convenient and secure means of protecting and tracking an asset.

Don't pay for what you don't need

Customize your report by selecting specific countries or regions and save 30%!

Which Are Some Prominent Drivers Of Asset Tags Market?

The demand for asset tags has experienced a steady growth in the past couple of decades. The global asset tags market is expected to be driven by the increasing demand to identify and keep track of the products.

Asset tags eliminate the need to stand in long queues for product identification at retail stores. They can be scanned with lasers to identify the products quickly, which increases the convenience of the consumers.

A rapid shift towards a fast paced lifestyle, fueled by meteoric growth in urbanization around the world means that consumers prefer to carry out their tasks in the minimum possible time.

An increase in E-retail platforms and globalization ensures convenience in purchasing goods from different places, creating a need to track the movement of the product through the distribution channel.

Asset tags therefore are expected to be preferred by most retail stores and manufacturers. OEMs manufacture goods in millions, increasing the need for quicker identification of products for maintenance and repair. All these factors are expected to give the global asset tags market a push.

What Are The Challenges Faced By The Asset Tags Market?

Despite all the favorable conditions for the growth of the global asset tags market, certain factors are expected to act as restraints. These include an increasing trend among consumers to sell their products after a finite period of usage. Many second-hand buyers hesitate to take products that come with asset tags.

Ismail Sutaria
Ismail Sutaria

Principal Consultant

Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Logistics Industry Creating Lucrative Opportunities For Asset Tags Market In North America?

North America, as a mature market, is supposed to be leading the global asset tags market size during the forecast period, owing to a wider customer base and a greater number of retail stores than any other region.

Furthermore, the logistical support industry's strong presence, the expansion of 5G networks, and the penetration of e-commerce sales are all increasingly influencing the market growth.

As a result of the aforementioned factors, North America is anticipated to have a 23% market share for asset tags during the forecast period 2022 to 2032.

Technological Advancement Bolstering Demand for Asset Tags in Europe?

Europe is a hotspot of technological advancement. The wide integration of artificial intelligence, the Internet of Things, and cloud services have made asset tagging easier. Moreover, the automotive industry in Germany largely contributes to the growth of the asset tags market in Europe.

The use of asset tags is increasing in end-user industries present in Spain. This, in turn, is bolstering the demand for asset tags. Thus, owing to the reasons above, Europe is expected to hold a market share of 29% in 2022.

Get the data you need at a Fraction of the cost

Personalize your report by choosing insights you need
and save 40%!

How is the Asia Pacific Contributing to the Growth of the Market for Asset Tags?

Countries in Asia Pacific, such as China, Thailand, India, and Singapore, are providing numerous growth prospects for the asset tags market. The region's market is anticipated to grow during the forecast years due to rising technological advancements.

Furthermore, the growing adoption of IoT and AI in various end-user industries is expected to spur the studied market forward. Furthermore, small and medium-sized businesses are continuing to invest in increasing the adoption of advanced technological solutions for their business operations.

Established companies are also innovating to provide asset tag solutions to a wide range of end-user industries. As a result, the growing prevalence of advanced technologies is expected to create numerous growth opportunities for the APAC asset tags market.

Due to the rapid growth of the logistics industry in the region, India is expected to become the fastest-growing country in the asset tag market. Furthermore, a strong logistics sector can help India achieve its goal of becoming a manufacturing powerhouse through government initiatives such as 'Make in India.'

However, the slow adoption of new technologies hampered the logistics sector's development. In this case, asset tag solutions are likely to solve such concerns by tracking the transported merchandise and obtaining data insights. This will accelerate the growth of India's asset tags market.

The Startup Ecosystem: How Key Players Are Opening Frontiers For Future Growth?

Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base.

For instance,

  • Shenzhen A. N. G Technology Co., Ltd. was founded in May 2015 in Qianhai. Its forerunner was a college entrepreneurship team founded in 2008. They recently released the Heat-Resistance Anti-Metal PPS NFC Tag for Asset.

Market Competition

Some major global asset tag market players include Custom Labels, Alpha Signs, Brother International Corporation, Premier Holotech, Labels China, and AB&R.

  • Brother International Corporation has been introducing the most recent long-lasting retail labels for asset identification, signage, staff name badges, and shelf-edge labelling.
  • Engineers at AB&R created a method to integrate sensors and RFID tags to read and communicate critical measurements in September 2021. Customers can now use tags to locate their items, giving them even more insight to help manage their assets.

Recent Developments

  • January 2023: Zebra Technologies revealed the debut of their new AssetIQ asset tracking technology.
  • February 2023: ORBCOMM announced their new AssetTracker 2.0, a ruggedized asset tracking device which is suitable for hard conditions.
  • March 2023: Thingstream announced a new asset-tracking solution for the industrial sector.

Report Scope

Report Attribute Details
Market Value in 2023 USD 1,865.6 million
Market Value in 2033 USD 3,217.1 million
Growth Rate CAGR of 5.60% from 2023 to 2033
Base Year for Estimation 2022
Historical Data 2018 to 2022
Forecast Period 2023 to 2033
Quantitative Units Revenue in USD million and CAGR from 2023 to 2033
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered Raw Material
Label Type
Size
End Use
Region
Regions Covered North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Key Countries Profiled USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel
Key Companies Profiled Custom Labels; Alpha Signs; Brother International Corporation; Premier Holotech; Labels China; AB&R
Customization Available Upon Request

Key Segments Profiled In The Asset Tags Industry Survey

Raw Materials:

  • Metal Asset Tags
    • For flat surfaces
    • For curved surfaces
  • Plastic Asset Tags

Label Type:

  • Barcode
  • Number

Size:

  • 0.75" x 1.5"
  • 0.75" x 2"
  • 1.25" x 2"
  • 0.5" x 1.25"
  • 0.5" x 1.75"
  • 0.625" x 1.75"
  • Others

End Use:

  • Property ID tags
  • School barcodes
  • Hospitals
  • Churches
  • Anti-theft labels
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Frequently Asked Questions

How Big is the Asset Tags Market?

The asset tags market is valued at USD 1,865.6 million in 2023.

What is the Projected Size of the Asset Tags Market by 2033?

The global asset tags market size to reach USD 3,217.1 million by 2033.

What is the Growth Forecast for the Asset Tags Market?

The asset tags market is forecast to register a CAGR of 5.60% through 2033.

How was the Historical Performance of the Asset Tags Market?

The asset tags market recorded a CAGR of 3.30% from 2018 to 2022.

Who are the Key Asset Tags Market Players?

Key asset tags market players are Custom Labels, Alpha Signs, Brother International Corporation, Premier Holotech, Labels China, and AB&R.

Table of Content
  • 1. Executive Summary
  • 2. Market Overview
  • 3. Market Background
  • 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
  • 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Raw Materials
    • 5.1. Metal Asset Tags
    • 5.2. For flat surfaces
    • 5.3. For curved surfaces
    • 5.4. Plastic Asset Tags
  • 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Label Type
    • 6.1. Barcode
    • 6.2. Number
  • 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Size
    • 7.1. 0.75" x 1.5"
    • 7.2. 0.75" x 2"
    • 7.3. 1.25" x 2"
    • 7.4. 0.5" x 1.25"
    • 7.5. 0.5" x 1.75"
    • 7.6. 0.625" x 1.75"
    • 7.7. Others
  • 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use
    • 8.1. Property ID tags
    • 8.2. School barcodes
    • 8.3. Hospitals
    • 8.4. Churches
    • 8.5. Anti-theft labels
    • 8.6. Others
  • 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
    • 9.1. North America
    • 9.2. Latin America
    • 9.3. Western Europe
    • 9.4. Eastern Europe
    • 9.5. South Asia and Pacific
    • 9.6. East Asia
    • 9.7. Middle East and Africa
  • 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 17. Key Countries Market Analysis
  • 18. Market Structure Analysis
  • 19. Competition Analysis
    • 19.1. Custom Labels
    • 19.2. Alpha Signs
    • 19.3. Brother International Corporation
    • 19.4. Premier Holotech
    • 19.5. Labels China
    • 19.6. AB&R
    • 19.7. Zebra
    • 19.8. Brady Corporation
    • 19.9. Molex, LLC
    • 19.10. MyAssetTag
    • 19.11. Metalcraft
    • 19.12. MPI Label Systems
    • 19.13. Seagull Scientific
    • 19.14. RMS Omega
  • 20. Assumptions & Acronyms Used
  • 21. Research Methodology
Recommendations

Packaging

Non-Adhesive Tags Market

March 2023

REP-GB-13183

250 pages

Packaging

Self-Laminating Tags Market

July 2022

REP-GB-10049

250 pages

Explore Packaging Insights

View Reports
Future Market Insights

Asset Tags Market

Schedule a Call