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Market Research Report

Inventory Tags Market - Growth, Trends, and Forecast (2020 - 2025)

Published by Mordor Intelligence LLP Product code 922638
Published Content info 132 Pages
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Inventory Tags Market - Growth, Trends, and Forecast (2020 - 2025)
Published: January 1, 2020 Content info: 132 Pages
Description

Market Overview

The inventory tags market is estimated to grow at a CAGR of 4.7% over the forecast period 2020 - 2025. Works towards normalization, growing application segments, increasing awareness for using inventory tags, augmented integration of advanced technologies to improve existing technology and mounting awareness among the general population are principal factors supposed to drive the growth of the global inventory tags market. Moreover, rising disposable incomes in developing economies are expected to augment demand for several retail products is another primary factor anticipated to propel the growth of the global inventory tags market.

  • Inventory tags connected products help in secure identification and tracking, reducing human error and hence assist in effective supply chain management. Inventory tags provide detailed information about products which can later be used and even lets the stock to be tracked, making warehousing and logistics opting just in time for their inventories.
  • Moreover, ease of printing has tendered inventory tags a branding and displaying tools for retail commodities. Moreover, the rise in the trend of online shopping and growth in the e-commerce industry has compelled the brand partners to set up sheds to keep the inventory data related to order flow. The aforementioned determinants have led to the heightened utilization of inventory tags, which is anticipated to boost market growth.

Scope of the Report

Inventory tags are tags that are labeled to several goods to supervise workers while counting products and recognizing the number, type, and color of items. Inventory Tags are fastened to inventory items to give the requisite information about the finished products, raw materials, and other stored elements.

Key Market Trends

RFID Holds a Substantial Share in Technology Segment of the Inventory Tags Market

  • Sectors showing extraordinary growth potential for RFID technology are the automotive, pharmaceuticals, and health care industries. RFID can significantly reduce the labor cost borne by companies for warehouses, as labor costs amount to about 50-80% of the total costs in a distribution center. Processes that require a greater number of employees can be completed with a smaller number of employees. ​

The most common use of RFID technology and smart labels are tracking goods in the supply chain, tracking parts moving to a manufacturing production line, tracing assets, security, and payment systems that let clienteles pay for items without using cash. Many distribution centers and warehouses have been putting to increase the efficiency of the processes, as a part of improvement programs.

It has been acknowledged that about 60% of such centers in North America have been investing in improving process efficiency, and such investments are expected to drive growth for such RFID-based Inventory Tags.​ RFID technology has generated demand for a printer capable of concurrently printing text, bar codes, and graphics on the surface of the Tag in addition to reading, programming, reading and verifying the RF tag embedded in the label.

APAC is Growing wit the Fastest Pace in Inventory Tags Market

APAC is the fastest-growing market for inventory tags globally. Inventory Tags are one of the fastest-growing market segments in China. An increase in demand for tags partly originates from traditional industrial products. According to the China National Light Industry Council (CNLIC), around 80% of light industrial products need packaging and labels. Transportation & Logistics tags are also a fast-growing segment in China's industrial supply chain.​

In the future, the retailers are expected to adopt multilateral cooperation, synchronizing data from local government traceability platforms and suppliers to provide customers with safe and high-quality products, as a result, a meaningful part of the growth of inventory tags Market is expected to be generated by the Retail and Food and Beverage Applications.

In addition, the demand for inventory tags in Japan is mostly concentrated in the retail, manufacturing, healthcare, and pharmaceutical sectors. The recent government regulations and initiatives have expedited the adoption of Smart Tags in the country.​ In 2017, the Japanese Ministry of Economy, Trade & Industry announced the introduction of 100 billion electronic tags for products sold in convenience stores leading to the large-scale adoption of inventory tags in the retail and distribution industry.

Also, India is one of the top pharmaceutical manufacturers in the world. Although most of the production is distributed for domestic consumption, a considerable amount of drugs are exported to countries like the United States. To meet with the safety and security regulations of the importing countries, most of the pharmaceutical exporters in India use smart Tagging and labeling techniques.​

Competitive Landscape

The inventory tags market is moderately competitive and consists of several local, regional and international players. In terms of market share, few of these major players currently dominate the market. Principal players have a well-diversified geographic presence and resources. The companies are leveraging strategic collaborative initiatives to attain substantial market share.

  • April 2019 - Alien Technology, announced a new highly networked RFID reader+antenna solution that provides industry-leading RFID tag visibility. The co-developed Alien Hydra and SensThys SensArray solution enable companies to better track, manage and secure their tagged inventory while reducing their overall solution cost.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • Report customization as per the client's requirements
  • 3 months of analyst support
Table of Contents
Product Code: 67657

Table of Contents

1 INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Introduction to Market Drivers and Restraints
  • 4.3 Market Drivers
    • 4.3.1 Real-Time Tracking
    • 4.3.2 Provides Protection Against Loss, Theft, and Counterfeiting
    • 4.3.3 Remote Identification of Products
  • 4.4 Market Restraints
    • 4.4.1 High Cost Associated with Software and Equipment Integration
  • 4.5 Industry Attractiveness - Porter's Five Force Analysis
    • 4.5.1 Threat of New Entrants
    • 4.5.2 Bargaining Power of Buyers/Consumers
    • 4.5.3 Bargaining Power of Suppliers
    • 4.5.4 Threat of Substitute Products
    • 4.5.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

  • 5.1 By Technology
    • 5.1.1 RFID
    • 5.1.2 Barcodes
    • 5.1.3 Other Technologies
  • 5.2 By Type
    • 5.2.1 Plastic
    • 5.2.2 Paper
    • 5.2.3 Metal
    • 5.2.4 Other Types
  • 5.3 By End-user Industry
    • 5.3.1 Industrial
    • 5.3.2 Retail
    • 5.3.3 Transportation & Logistics
    • 5.3.4 Other End-user Industries
  • 5.4 Geography
    • 5.4.1 North America
    • 5.4.2 Europe
    • 5.4.3 Asia Pacific
    • 5.4.4 Rest of the world (RoW)

6 COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Avery Dennison Corporation
    • 6.1.2 3M Company
    • 6.1.3 Zebra Technologies Corporation
    • 6.1.4 Alien Technology, LLC
    • 6.1.5 Brady Worldwide, Inc.
    • 6.1.6 Tyco International Plc
    • 6.1.7 Smartrac N.V.
    • 6.1.8 Johnson Controls International Plc
    • 6.1.9 Cenveo Corporation
    • 6.1.10 Checkpoint Systems, Inc.
    • 6.1.11 Hewlett Packard Enterprise Development LP

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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