Smart Label Market Forecast RFID and NFC Tags from 2024 to 2034
Opportunities for Smart Label Manufacturers Emerge as eCommerce Sector Assumes a Constant Upward Trajectory for Sales
Smart Label Market Outlook 2024 to 2034
The smart label market share is estimated to exhibit promising growth throughout the forecast period, expanding at a CAGR of 10.3%. The market size is expected to expand from USD 8.0 billion in 2024 to USD 21.1 billion by 2034.
Attributes
Key Insights
Estimated Smart Label Market Size (2024E)
USD 8.0 billion
Projected Smart Label Industry Value (2034F)
USD 21.1 billion
Value-based CAGR (2024 to 2034)
10.3%
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Key Trends Shaping the Smart Label Market
Constant technological advancements in the smart label market like the use of new labels that can be accessed by users via Google or Siri.
The booming eCommerce sector is creating the potential for the sales of smart labels to avoid counterfeiting.
Increasing attraction for smart labels as they allow real-time location tracking, re-programmability, detailed information, and simultaneous identification.
Prominent use of smart labels in FMCG manufacturing, retail, automotive, logistics, aerospace, healthcare, and other industries.
Surging proliferation of the Internet of Things to boost the demand for advanced labeling solutions.
Category-wise Smart Label Market Insights
Flexographic Segment to Enjoy a Streak of High Market Share in the Forecast Period
Leading Printing Technology
Flexographic
Value Share (2024)
39.50%
The flexographic printing technology is expected to acquire a market share of 39.50% in 2024. This segment is anticipated to expand on account of the following factors:
Increasing appeal of flexographic printing owing to its cost-effectiveness, faster production speed, and capacity to utilize substrate rolls that help in bulk packaging.
Rising consumer proclivity for eCommerce formats to buy items is boosting the use of flexographic printing.
Extensive uses of flexographic printing machines to meet large-scale printing applications as they are effective in high-speed printing and across various applications.
Surging demand for flexographic printing machines to print on premium packaging.
RFID Technology to Acquire a Massive Value Share in 2024
Leading Labeling Technology
RFID
Value Share (2024)
57.30%
The RFID labeling technology is expected to obtain a market share of 57.30% in 2024. Over the forecast period, the segment is projected to be driven by the following key points:
Growing demand for RFID technology as it allows automatic and contactless identification of single items, thus enabling visibility of inventory levels and real-time tracking, movement of goods, and location to lower losses and enhance logistics management.
Rapid RFID integration with warehouse management systems to automate tasks like order packing, stock replenishment, and overall efficiency.
Industries like food and pharmaceuticals have regulations that require authentication and product tracking, which makes RFID a viable solution.
Find your sweet spots for generating winning opportunities in this market.
Smart Label Market Analysis by Country
The North America smart label market is driven by growing demand for advanced labels in the region. Additionally, this area is populated with a high density of key players. Meanwhile, Europe is propelled by increasing investments in research and development activities and growing concerns over counterfeit products.
The Asia Pacific market is catalyzed by increasing demand for smart labels from end users. As this region marches towards a stronger economy in upcoming years, with consumers earning greater annual incomes, prospects for key players in the Asia Pacific are projected to surge.
Countries
Forecast CAGR (2024 to 2034)
The United States
6.90%
Germany
5.90%
China
8.40%
India
8.70%
Thailand
7.80%
Businesses in the United States Adopt Smart Labels to Gain a Competitive Edge over their Competitors
The United States market for smart label is expected to exhibit a CAGR of 6.9% through 2034. The regional market holds a predominant position in North America. Over the next 10 years, the market is driven by:
Smart labels in the United States are growing in demand due to increasing footfall in supermarkets and retail stores as well as strict rules about product information transparency.
Businesses are showing their willingness to invest in technology like smart labels and blockchain to offer increased transparency across their distribution networks.
A surge in tech-savvy consumers is projected to be conducive to market demand for smart labels.
Surging demand for inventory management, effective supply chain management, and anti-counterfeit measures are expected to propel market growth.
Market players in the United States are offering the latest labels integrated with advanced RFID and IoT technologies.
Latest Trend of Using RFID Labels to Reduce Food Wastage is Shaping the Market in India
The India smart label market is projected to show a promising growth rate of 8.7% over the next 10 years. The industry is being driven by:
Healthy growth in the organized retail sector and thriving eCommerce sector are eliciting increased demand for smart labels.
The Indian economy is creating significant opportunities for RFID label manufacturers to benefit from this unexplored market. Relatively lesser labor costs in India are also a driving force for smart label makers.
Growing demand for perishable goods is creating opportunities for manufacturers. Furthermore, with the reduction of food wastage now in focus, the evolution of the pharmaceutical industry is contributing to smart label market growth.
Increasing Focus on Domestic Production in China to Fuel Growth in the Regional Market
The China smart label industry is expected to assume a CAGR of 8.4% over the forecast period. The regional market is propelled by the following factors:
Increasing adoption of internet penetration and smartphones as well as rapid adoption of technologies that facilitate better-connectedness in China are contributing to an uptick in smart labels.
The national initiative to promote pride and accelerate domestic production, with the help of automation and smart manufacturing is increasing the adoption of smart label technology.
Key players in China are heavily investing in IoT development to create a favorable environment for the adoption of smart labels.
Emphasis on Anti-counterfeiting to Promote the Smart Label Industry in Germany
The smart label market in Germany is driven at a CAGR of 5.9% through 2034. Over the upcoming years, factors that are fueling regional growth are:
Rising partnerships among key players to launch technologically advanced smart labels to upgrade product efficiency and lower waste.
Upsurge in collaboration and mergers with similar technological firms to complement each other’s product portfolio.
The vigorous manufacturing sector in Germany to protect intellectual property and brand reputation is fueling the use of smart labels equipped with advanced security features to beat counterfeiting and ensure product authenticity.
Growth in Export-oriented Industries in Thailand to Boost Smart Label Market
Demand for smart labels in Thailand is accelerating at a CAGR of 7.8% through 2034. The following factors are contributing to market growth:
Expanding export-oriented industries like electronics and food are increasing the use of smart labels that help in data collection and real-time tracking to enhance transparency and efficiency in inventory management and logistics.
Increasing demand for smart labels with QR or NFC codes to offer customers product promotions, information, and even interactive experiences to raise brand loyalty and user engagement.
Market Players Plan to Strategically Raise their Share in the Market
Market players are continuously innovating and integrating sensors for temperature control, environmental monitoring, or product authentication. Additionally, industry players are variegating their technology offerings beyond RFID to include printed electronics, NFC, and other emerging technologies. Industry participants are customizing their solutions as they respond to certain industry requirements like pharmaceutical traceability, food safety, and asset tracking.
Industry participants are further partnering with software developers, IoT platforms, and system integrators to provide comprehensive solutions. Apart from this, they are extending their capacity and market reach via strategic acquisitions of similar businesses. Players are also coming into partnerships with other competitors to create new technologies or traverse new geographies.
Leading companies in the market are increasing their focus to include much more than traditional sectors like logistics and retail like manufacturing and healthcare. Companies are furthermore offering customized solutions to satisfy certain customer requirements and preferences. Besides, players are invigorating their partnerships with resellers and distributors to gain a much wider audience.
Market contenders are further continuously enhancing their existing technologies and finding new possibilities to enhance the functionality of smart labels. Additionally, players are focusing on addressing data security concerns and providing secure solutions to gain customer loyalty. Industry players are further actively increasing their participation in trade shows and industry conferences to exhibit their products and interact with potential clients.
Latest Developments in the Smart Label Market
Toppan, a provider of printing and packaging solutions, released paper-based NFC tag labels in January 2023 to curtail fraudulent activities. These tags utilize paper material as opposed to traditional PET films.
The R Collective and Avery Dennison came into a collaboration in September 2022 to equip fashion brands with QR code labels for garments. This collaboration is a fragment in the overarching commitment toward digitization in the fashion industry.
CCL Industries Inc. gained Floramedia Group B.V. in May 2022. The latter company specializes in horticulture media with labels and in-house tag production.
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Key Coverage in the Smart Label Industry Report
Adjacent Study of RFID Labels Market, Electronic Labels Market, Intelligent Labels Market, Wireless Labels Market and NFC Labels Market
Impact of Technologies like Sensors, IoT, Barcode, and QR Code on Smart Labels
Quantitative Analysis of Smart Label Market
Manufacturers of Smart Labels
Honeywell International Inc.
Avery Denison Corporation
CCL Industries Inc.
Zebra Technologies Corporation
SATO Holdings Corporation
Checkpoint Systems Inc.
Thin Film Electronics ASA
Muehlbauer Holding AG
Invengo Technology Pte. Ltd.
OPRFID Technologies
MPI Label Systems
Others
Smart Label Industry by Category
By Labelling Technology:
RFID
NFC Tags
EAS
Sensing Labels
Electronics Shelf Labels
By Printing Technology:
Flexographic
Digital
Gravure
Screen
By End Use:
Healthcare
Automotive
FMCG
Logistics
Retail
Others
By Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Frequently Asked Questions
How Big Will be the Smart Label Industry in 2024?
The market is estimated to account for USD 8.0 billion in 2024.
At What Rate Will the Smart Label Industry Grow?
Throughout the forecast period, the smart label industry is projected to register a CAGR of 10.3%.
What is the Expected Value of the Smart Label Industry by 2034?
By 2034, the smart label industry is forecast to be worth USD 21.1 billion.
Which Labeling Technology is Expected to Acquire a Significant Share in the Smart Label Industry?
RFID labeling technology is expected to obtain a substantial value share in the smart label market.
Which Country is Projected to Find Significant Growth Opportunities?
India is expected to find substantial growth prospects in the future.
Who are the Leading Companies in the Smart Label Industry?
Leading companies in the smart label industry include Honeywell International Inc., Avery Denison Corporation, and CCL Industries Inc.
Table of Content
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Labelling Technology
5.1. RFID
5.2. NFC Tags
5.3. EAS
5.4. Sensing Labels
5.5. Electronics Shelf Labels
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Printing Technology
6.1. Flexographic Smart Labels
6.2. Digital Smart Labels
6.3. Gravure Smart Labels
6.4. Screen Smart Labels
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use
7.1. Healthcare
7.2. Automotive
7.3. FMCG
7.4. Logistics
7.5. Retail
7.6. Others
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
8.1. North America
8.2. Latin America
8.3. Western Europe
8.4. Eastern Europe
8.5. South Asia and Pacific
8.6. East Asia
8.7. Middle East and Africa
9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country