The Growth of the Smart Labels Market was Largely Influenced by new Product Launches in the Past Years
MarketsandMarkets expects the global market for smart labels to grow from USD 4.45 Billion in 2016 to USD 10.03 Billion by 2021, at a CAGR of 17.65%. The growth in the smart labels market is supported by the growing parent industries such retail, healthcare, logistics, and automotive in both developed and developing countries as well as increasing need for the automated ways of labelling which are responsible for both safety & security and to provide information related to end-products.
The key players in the market for smart labels market are CCL Industries, Inc. (U.S.), Checkpoint Systems, Inc. (U.S.), Avery Dennison Corporation (U.S.), Sato Holdings Corporation (Japan), and Zebra Technologies Corporation (U.S.). The other notable players in the market are Muhlbauer Holding Ag & Co. Kgaa (Germany), Smartrac N.V. (The Netherlands), Ask S. A. (France), Graphic Label, Inc. (U.S.), Thin Film Electronics ASA (Norway), and Willian Frick & Company (U.S.). These players have adopted various strategies to expand their global presence and increase their market share. Agreements & partnerships, acquisitions, investments & expansions, and new product launches are some of the major strategies adopted by the market players to achieve growth in the smart labels market.
The growth of the smart labels market was largely influenced by new product launches in the past years. The year 2014 experienced a large number of investment strategies being used by top players in the market. Agreements & partnership, new product launches, and investments & expansions formed an essential part of their strategies, which led to the flow of considerable income within the company. To maintain the competitive advantages on the competitors, top players emphasized on new product launches. Along with the same, top players focused on signing agreements & partnership with others to expand the business operations.
New product launches were the major strategy adopted by most of the players in smart labels market. Companies adopted this strategy to increase the reach of their offerings, improve their production capacity, and focus on core operations. Companies aim to serve the market efficiently by investing in manufacturing facilities and acquiring distribution centers in the fast-growing regions. As a result of the same, Checkpoint System Inc. (U.S.), Smartrac N.V. (The Netherlands), and Sato Holdings Corporation (Japan) emphasized on launching new products to increase their product portfolios.
Checkpoint Systems, Inc. operates through three business segments, namely, merchandise availability solutions, apparel labelling solutions, and retail merchandising solutions. The merchandise availability solutions segment provides electronic article surveillance (EAS) systems, including antennas and deactivation units. The EAS consumables include alpha solutions, store security system installations, monitoring solutions (CheckView), radio frequency identification (RFID) systems, software, tags, and labels. The retail merchandising solutions segment includes hand-held label applicators and tags, promotional displays, and queuing systems. From 2011 to 2016, the company emphasized on new product launches to expand the product portfolio. The company launched 16 new products, and along with the same the company also signed agreements & partnership with different companies to expand their business operations in regions.
SMARTRAC N.V. was established in 2000. It is headquartered in Amsterdam, The Netherlands. The company produces inlays and other radio-frequency identification (RFID) components, which help to quickly and securely transmit and read data encrypted in access control, credit, ID, e-passport, and mass transport cards. SMARTRAC supplies its components to customers such as Gemalto (The Netherlands), Infineon (Germany), and Texas Instruments (U.S.), and delivers inlays to a majority of the world’s e-passport programs. The company caters its services to a number of different industries such as animal identification, healthcare, public transportation, supply chain & asset tracking management, electronic, automotive, and retail. From 2011 to 2016, the company launched 10 new products to increase their product portfolio and customer base. The company also signed six agreements with different companies in both developed and developing countries such as Finland, the U.S., Argentina, and South Korea.
Related Reports:
Smart Labels Market by Technology (EAS, RFID, Sensing, ESL, NFC tags), Components (Batteries, Transceivers, Microprocessors, Others), Application (Retail Inventory, Perishable Goods, Electronic & IT asset, Others), End-use Industry - Forecast to 2021
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