ACCESS Newswire
21 Feb 2021, 00:35 GMT+10
DALLAS, TX / ACCESSWIRE / February 20, 2021 / According to new report added in Report Banana offerings, there are significant money making opportunities available in the global smart labels market. Companies planning to enter this market need to prepare and differentiate to maximize their return on investment.
In terms of opportunities, the global smart labels market is expected to grow from $7.21 billion in 2019; it is expected to grow at a CAGR of 17.68% during the forecast period.
Smart Label is a flat configured transponder under a conventional print coded label which includes chip, antenna and bonding wires. A smart label is designed to implement advanced technology which leads to advantageous features such as automated reading, quick identification, re-programmability, high tolerance, and reduced errors. As a result, it is being preferred over conventional bar code systems in retail, FMCG, and logistics industries. These are mostly made from plastics, paper, and fibers. The market for smart labels is growing due to growth in industries such as retail, healthcare, manufacturing and others along with the rise in demand of automated labels such as RFID and EAS. A smart label is designed to receive, record, and transmit digital information which results in a significant reduction of total tracking time. Thus, rising industrial utilization aids to minimize human intervention and errors, owing to its accuracy and efficiency driving the market growth.
Prominent players profiled in this report include 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., Smartrac N.V, etc.
Significant Aspects of the Report and Main Highlights:
The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
To read more about this market please click on https://www.reportbanana.com/global-smart-labels-market-size-study,-by-labellin-rpt22390.aspx. Get more details by contacting Report Banana at +1 469 638 2694 (US), +31-6-82270883 (Europe), +91-771-4288410 (Asia) or click on [email protected].
About Report Banana
Report Banana provides syndicated as well as customized market research reports from various market research companies around the globe. Our product offerings register presence in most of the verticals such as aerospace, automotive, chemical, construction, consumer, E&E, medical, and service industries. For further information, visit www.reportbanana.com.
Roy Almaguer
Director of Client Engagement
Report Banana
Dallas, Texas, USA
Email: [email protected]
Tel: +1 210-878-7693
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SOURCE: Report Banana
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