PUNE, India, March 28, 2016 /PRNewswire/ -- 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" published by MarketsandMarkets. The 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"
Early buyers will receive 10% customization on this report.
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.
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.
The key players in the Inventory Tags Market are Avery Dennison Corporation (U.S.), Tyco International Plc. (Ireland), 3M Company (U.S.), Brady Corporation (U.S.), and Zebra Technologies Corporation (U.S.). The other players in the market are Checkpoint systems Inc. (U.S.), Smartrac N.V. (The Netherlands), Cenveo Inc. (U.S.), Alien Technology Inc. (U.S.), and Hewlett-Packard Company (U.S.). These players have adopted various strategies to expand their global presence and increase their market share. Investments, agreements, contracts, expansions, acquisitions, new product launches, and technological developments are some of the major strategies adopted by the market players to achieve growth in the Inventory Tags Market.
Browse Related Reports
Industrial Labels Market by Type (Warning, Branding, Others), Mechanism (Pressure Sensitive, Glue-applied, others), Industry (Transportation, Consumer Durables, Others), Printing Technology (Digital Printing, Flexography, Others), Identification Technology (Bar codes) - Forecast to 2020
Linerless Labels Market by Composition (Facestock, adhesive), Printing ink (water-based, solvent-based, holt melt-based, UV curable), Printing technology (Digital, Flexographic, Gravure, Screen, Lithography, Letterpress), Application - Forecast to 2020
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
Other Bar Code News blogs that may interest you:
- Retailers Optimistic Entering Spring and Summer Season
- Technavio Announces Top RFID and Tagging Trends Impacting the Global EAS Market
- IXYS Introduces Cylindrical Low Frequency Half-Duplex Read-Only RFID Transponder
- Silver Leaf Wines and Spirits First in MS to Roll out Intellicheck's Age ID
- TEKLYNX International's Doug Niemeyer Named Rock Star of the Supply Chain
- Chase Sowden (Barcoding, Inc) Garners Food Logistics Champions Award