The report "Inventory Tags Market by Technology (Barcodes, RFID), Label Type (Plastic, Paper, Metal), Printing technology (Digital Printing, Flexography, Lithography, Screen Printing, Gravure, Others), End-Use (Industrial, Retail, Others) - Global Forecast to 2021", The inventory tags market size is projected to grow from USD 4.08 Billion in 2016 to reach USD 5.07 Billion by 2021, at an estimated CAGR of 4.43%.
Browse 236 market data tables and 46 figures spread through 237 pages and in-depth TOC on “Inventory Tags Market by Technology (Barcodes, RFID), Label Type (Plastic, Paper, Metal), Printing technology (Digital Printing, Flexography, Lithography, Screen Printing, Gravure, Others), End-Use (Industrial, Retail, Others) - Global Forecast to 2021”
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The inventory tags market is projected to witness significant growth in the future with the increasing popularity of the benefits of authentication technologies and the need for track & trace technologies, which are embedded in packaging. Developing markets such as China, Brazil, and India are emerging as growth frontiers for the inventory tags market. Growing economies, globalization, and reduced trade barriers act as the main drivers for increased opportunities in these countries.
Barcodes is projected to be the largest market segment of the inventory tags market during the forecast period
Track & trace and authentication technologies such as barcodes and RFID are some of the technologies used by companies to track their inventory. Barcode technologies are the most conventional and prominent technologies used in the inventory tags market. This segment dominated the inventory tags market in 2015, and this trend is projected to continue through 2021. In current economic conditions, retailers and manufacturers recognize that additional investments in loss prevention is necessary to combat the increasing level of inventory loss due to theft and counterfeiting. Logistics & transportation companies also benefit by using track & trace technologies as they can locate the package at any point during the delivery process. Track & trace technologies such as RFIDs and barcodes help in identifying the product as well as help in tracing the product across the supply chain.
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Digital printing is projected to be the fastest-growing segment of the inventory tags market during the forecast period
The inventory tags market, by printing technology, is classified into nine segments, namely, digital printing, flexographic printing, gravure printing, thermal printing, screen printing, lithography, offset, and letterpress. The digital printing segment accounted for the largest market share in 2015 with its numerous benefits such as high-quality, cost-effective solution for manufacturing well-designed inventory tags with recycling options. Digital printing also uses ink-jet printing to print images.
Asia-Pacific to play a key role in the inventory tags market
Factors such as strong government support, efforts towards standardization, expanding application segments, convergence of technologies, rising awareness of using inventory tracking technologies, increasing urbanized population in China and India along with the growth in the disposable income in these countries are driving the growth of the Asia-Pacific inventory tags market. Rapid industrialization and imposition of strict laws pertaining to secure packaging are also major factors contributing to the growth of the inventory tags market.
The scope of the report covers detailed information regarding the major factors influencing the inventory tags market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been conducted to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, joint ventures, and recent developments associated with the inventory tags market.
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Global Inventory Tags Market was valued US$ 5.12 Bn in 2019 and is expected to reach US$ 7.31 Bn by 2027 at a CAGR of 4.55 % during the forecast period.
Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments.
The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Additionally, the imposition of strict laws pertaining to secure packaging and rapid industrialization are other key elements fueling the global inventory tags market.
However, lack of awareness of inventory tags technologies, high initial costs and lack of skilled labor are some key challenges pertaining to the global inventory tags market.Metal tags are the most durable inventory tags and can withstand extreme conditions.
Digital printing also uses ink-jet printing to print images.Global Inventory Tags Market Regional Analysis:Factors such as strong government support, efforts towards standardization, expanding application segments, the convergence of technologies, raising awareness of using inventory tracking technologies, growing urbanized population in China and India along with the rise in the disposable income in these countries are driving the growth of the Asia-Pacific inventory tags market.
Global Inventory Tags Market was valued US$ 5.12 Bn in 2019 and is expected to reach US$ 7.31 Bn by 2027 at a CAGR of 4.55 % during the forecast period.The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters.
Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments.
The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.Efforts towards normalization, expanding application segments rising awareness for using inventory tags, and convergence of technologies are some major factors driving the growth of the global inventory tags market.
However, lack of awareness of inventory tags technologies, high initial costs and lack of skilled labor are some key challenges pertaining to the global inventory tags market.Metal tags are the most durable inventory tags and can withstand extreme conditions.
The inventory tags market, by printing technology, is classified into nine segments, namely, digital printing, flexographic printing, gravure printing, thermal printing, screen printing, lithography, offset, and letterpress.
Currently, Europe is the most dominant region in global inventory tag market.
