Which regions hold the vast share of the Smart Label market?

The global smart label market size is expected to value at USD 16.12 billion by 2025. The market is subject to witness a substantial growth due to the growing implementation of smart label identification methods over conventional labeled identification method. Other factors responsible for the sustained growth of smart label market include cost effectiveness and wide accessible range of products. The rising demand of smart labels from various sectors such as hospitals, surgical clinics, treatment centers, and various labs, in order to achieve precise results and consistent performance, is driving the market growth. Increasing popularity of smart labeling technique among end-users is one of the major driving factors for the expansion of the smart label market, in the recent years. Globally, the smart label industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market

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Smart labels are designed in order to store, monitor and transmit digital information that helps in reducing overall tracking time. Smart labels help to minimize human intervention and errors during various industrial process, owing to their high-end precision and efficiency. The smart label offers advanced solutions for challenges such as theft and shoplifting faced by retailers and manufacturers by delivering anti-theft and anti-counterfeit system.

The demand for identification and diagnostic of compound and bio-chemical substances on account of vast number of fields such as drugs, atmospheric analysis, bio-technology, health care and food analysis, military and residential airborne organic and compound agent testing and real time compound and biological manufacturing process monitoring, is gaining a higher traction.

The smart label industry is broadly categorized into six major segments based on the application type such as retail sector, logistic industry, Fast Moving Consumer Goods (FMCG) industry, manufacturing sector, automotive industry, and healthcare & pharmaceutical industry. The retail sector is considered as one of the fastest growing segment in the smart label industry with substantial revenue generation in the last few years. Growing popularity of smart labels in the retail segment is attributed to the increasing incidences related to shop theft and shoplifting. The healthcare & pharmaceutical segment has also witnessed substantial growth owing to the rising adoption in spoil detection of hospital goods, test samples, medical equipment, and drugs.

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