In Inventory tags market the Europe accounted for largest share in inventory tags market in 2015, and is projected to dominate market during forecast period. Real time tracking has wide applications in industry verticals like healthcare, logistics & transportation, industrial manufacturing, process industries, government, defense, & retail among others.
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The global inventory tags market size is projected to grow from USD 4.08 billion in 2016 to reach USD 5.07 billion by 2021, at a CAGR of 4.43%. Increasing concerns for efficient tracking of an enterprise’s assets, the need for managing an efficient supply chain, and rising counterfeit products in the market are factors encouraging manufacturing to use inventory tags technologies.
Target audience of the research are as follows
- Raw material suppliers
- Packaging manufacturers
- Logistics & shipment companies
- Inventory tags manufacturers
- Traders and distributors of inventory tags
- Commercial R&D institutions
- Associations and industry bodies
- End-use sectors such as the industrial, retail, and transport & logistics sectors
End-use sectors include industrial, retail, and logistics & transportation sectors.
On the basis of region, report is segmented into North America, Europe, Asia-Pacific, & Rest of the World (RoW). Base year considered for the study is 2015 & inventory tags market size is projected from 2016 to 2021.
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Europe accounted for largest share in inventory tags market in 2015, & is projected to dominate market during forecast period. Market for Asia-Pacific is projected to grow at highest CAGR during forecast.
Rise in counterfeit products present in market, increasing brand awareness, awareness among buyers about product information, growing e-commerce industry, developments in printing technologies, & impact of counterfeit products on brand image of genuine products are driving inventory tags market.
- Digital printing
- Flexography printing
- Gravure printing
- Screen printing
- Lithography printing
- Offset printing
- Letterpress printing
The major drivers for the growth of the inventory tags markets in the this country include strong government support, efforts towards standardization, expanding application segments, convergence of technologies, and rising awareness of using inventory tracking technologies.
Inventory tags ecosystem comprises of inventory tags manufacturers and vendors such Avery Dennison Corporation (U.S.), Tyco International plc (Ireland), 3M Company (U.S.), Brady Corporation (U.S.), and government and national associations such as IMDA, which helps manufacturers in development and growth of inventory tags products, technologies, and markets.
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In order to protect product from counterfeiters, companies accommodate authentication technologies in their product packaging. Authentication technologies such as barcodes, RFIDs, and security inks & dyes are used by companies to protect their brand image.
Use of authentication technologies in industrial sector is projected to grow at highest CAGR during forecast period.
Factors such as increasing protection against theft, loss, and counterfeiting; scope for technology integration; identification of products without human intervention or need of line-of-sight; and adoptions of real time tracking systems have propelled the growth of the global inventory tags market.
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