Incidents of merchandise pilfering in retail and logistics industries are one of the serious concerns across the globe. Each year, retailers and store owners face a significant amount of financial loss owing to the consistent stealing of various goods. Sensormatic labels are specially designed labels/tags frequently used by retailers and shop owners to prevent incidents of goods stealing.
Sensormatic labels are available in AM (Acousto Magnetic) and RFID technology discreetly secures the items of all shapes and sizes and provides quick & easy deactivation at the time of item purchase. Sensormatic labels help retailers to enhance store performance by minimizing product theft.
Rising adoption of these sensormatic labels across the globe to provide precise anti-theft protection to industrial and retail goods is driving the sensormatic labels market growth significantly. Furthermore, owing to its robust design, sensormatic labels do not get damaged even if exposed to environmental stresses during the shipping.
This benefit is likely to promote the popularity of sensormatic labels among the end-users. Overall, the global outlook for sensormatic labels market is anticipated to remain progressive during the forecast period.
Global retail and logistics industries have witnessed outstanding market growth in recent years. This phenomenal market growth is majorly driven by the rising demand for FMCG packagingproducts. The consistent rise in the production of numerous FMCG products requires proper inventory management. Leading logistics and retail players begin to start adopting these sensormatic labels to secure and manage a wide range of inventory.
This factor is foreseen to create a significant demand for sensormatic labels in the market during the forecast period. Technological advancement associated with sensormatic labels is also one of the vibrant factors that fuel the sensormatic labels market growth. The integration of RFID (Radio-frequency Identification) and EAS (Electronic Article Surveillance) technology with sensormatic labels enhance overall detection performance.
According to the U.S Grocery Manufacturing Association (GMA), approximately, 80% of the products belonging to food & beverage and personal care will feature smart labels/tags within the next five years. This factor will only propel the demand for sensormatic labels during the forecast periods.
On the other hand, considerable preference for conventional barcode labels and tags by small scale industry manufacturers hamper the sensormatic labels market growth up to a certain extent. Overall, the global sensormatic labels market is anticipated to expand with astonishing CAGR during the forecast period.
Based on the geography, the sensormatic labels market is categorized into North America, Latin America, Europe, South Asia, East Asia, and MEA regions. South Asia region is projected to be a momentous shareholder of the global sensormatic labels market and estimated to witness steady market growth during the upcoming period.
Rapid penetration of retail and logistics industries in this region is likely to fuels the South Asian sensormatic labels market growth. The consistent and rapid development of various end-use industries in North and Latin America region is expected to push the sensormatic labels market growth.
Moreover, an adequate presence of leading sensormatic labels manufacturers in these regions is also contributing to the market growth significantly. In Europe, countries such as Germany, Russia and the U.K. are expected to remain at the top regarding the market share of the sensormatic labels throughout the forecast period.
In the East Asia Region, China remains at the forefront regarding the market share and growth rate. Rapid industrialization in the MEA region is also contributing to the sensormatic labels market growth considerably.
Some of the leading manufacturers of the sensormatic labels are Johnson Controls, ALL-TAG Corporation, Changzhou Yasen Electronic Co.,Ltd., Custom Security Industries Inc., Zebra Technologies Corp., MoreRfid, AIRSEC, CCL Industries Inc. and others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
On the basis of labelling type, sensormatic labels market segmented into:
On the basis of printing technology, sensormatic labels market segmented into:
On the basis of end use industry, sensormatic labels market segmented into:
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