Jul 09, 2020 (AmericaNewsHour) --
Smart Label, also called Smart Tag, is a level constructed transponder below a straight print-coded label, which includes chip, antenna and bonding wires. It is means of identification in logistics and transportation. A Smart Label uses advanced technology that enables automatic reading, the ability to re-programmed and easier tracking. It is designed to record and transmit digital information to reduce the tracking time and the number of errors.
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The factors that drive growth for the Smart Label Market include the greater demand for smart label based anti-theft systems by companies. The industry's attempts to tackle counterfeit products is another factor helping the growth of the market. The high cost of these devices and the lack of standardization in the industry are major impediments blocking the growth of this market
The market also throws up several opportunities with regard to the technological developments happening in the market.
The market is segmented in terms of the type, application, components, industry, and geography.
In terms of the type, the market is classified into the chip, printable labels, and electronic labels.
In terms of the application, the market is classified into retail & inventory tracking, pallets, equipment, electronics & IT asset, and perishable goods.
In terms of component, the market is classified into microprocessors, memories, batteries, and transceivers. The largest share in this segment is the retail & inventory tracking segment.
In terms of industry vertical, the market is classified as Healthcare, Manufacturing, FMCG, Retail, and Automotive. The largest share in this segment is the Retail sector.
Asia Pacific is the dominating market in terms of market share because of the growth of the retail and logistics industries in this region. Asia Pacific is followed by North America. Asia Pacific is expected to have the highest growth rate.
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Some of the major players in the market include Zebra Technologies Corporation, CCL Industries, Alien Technology Inc, Avery Dennison Corporation, Intermec Inc, and Checkpoint Systems, Inc.
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