Smart Labels Market Segmentation:
End-user Segment Analysis
The global smart labels market is segmented and analyzed for demand and supply by end-user into retail, healthcare & pharmaceuticals, food & beverages, consumer electronics, supply chain & logistics, and transportation. Out of which, the retail segment is anticipated to garner the highest revenue by the end of 2035. The growth of the segment can be attributed to growing demand for e-commerce among people. Almost 3 billion people were anticipated to make online purchases in 2022. The world population is projected to be about 7 billion as of January 2023. That indicates that at least 27% of people worldwide make purchases online to meet their needs. The e-commerce and also m-commerce industries' breakthroughs and convergence are causing retailers to reevaluate their ideas and products, which is causing the global retail environment to change every day. Since a few years ago, the retail industry has changed to make use of RFID technology, which accounts for the majority of labels and tags produced to this day. Retailers could now better communicate with customers, apply anti-counterfeiting measures, and integrate customer experience into the Omni channel environment owing to this label technology. These elements fuel the retail sector's demand for intelligent labelling.
Technology Segment Analysis
The global smart labels market is also segmented and analyzed for demand and supply by technology into electronic article surveillance (EAS) security, RFID, sensing labels, near field communication tag, and QR code/2D barcode. Amongst which, the RFID segment is expected to have the significant growth over the forecast period. Radio frequency is used by RFID tags, a sort of tracking technology, to locate, recognize, follow, and communicate with objects and people. RFID tags could contain a variety of data, including serial numbers, a brief description, and even entire pages of information. Hence, owing to their advantages their preference is high among organizations. Cryptographic security elements are included in some RFID tags to provide a high level of verification and authentication. Low frequency (LF), high frequency (HF), and ultra-high frequency (UHF) radio frequencies are typically used to identify RFID tags (UHF).
Our in-depth analysis of the global smart labels market includes the following segments:
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By End-User |
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