Overview and Scope
Inventory tags are labels or markings attached to items or containers and contain important information such as the item name, description, quantity, location, and other details that are needed to manage inventory effectively.
Sizing and Forecast
The inventory tags market size has grown steadily in recent years. It will grow from $5.55 billion in 2023 to $5.8 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to barcode technology adoption, development of rfid tags, manual inventory management systems, standardization of tagging systems, introduction of qr codes.
The inventory tags market size is expected to see steady growth in the next few years. It will grow to $7.04 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to demand for real-time tracking, supply chain optimization, integration of cloud-based solutions, focus on security and anti-theft measures. Major trends in the forecast period include advancements in rfid, security and anti-counterfeiting measures, sustainability initiatives, enhanced durability and longevity, focus on data analytics.
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Segmentation & Regional Insights
The inventory tags market covered in this report is segmented –
1) By Type: Plastic, Paper, Metal, Other Types
2) By Printing Technology: Offset Printing, Digital Printing, Flexography Printing, Gravure Printing, Other Printing Technologies
3) By End-Users: Industrial, Commercial, Retail, Other End-Users
North America was the largest region in the inventory tags market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global inventory tags market during the forecast period. The regions covered in the inventory tags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise of fraudulent products is expected to propel the growth of the inventory tags market going forward. Fraudulent products are goods or services that refer to products deliberately misrepresented or falsely labeled to deceive consumers or gain an unfair advantage in the marketplace. This shift resulted from the cheap price of fraudulent products, weak laws, corruption, and ineffective enforcement. Inventory tags can help reduce fraudulent products by providing a way to track products through the supply chain and verify their authenticity. For instance, according to Business Wire, an India-based news magazine, in 2021 counterfeit medical products have raised by 47% as compared to 2020. This rise in counterfeited products is specifically observed for vaccines, COVID-19 test kits, medicines, antibiotics, and sanitizers. Therefore, the rise of fraudulent products is driving the growth of the inventory tags market.
Key Industry Players
Major companies operating in the inventory tags market report are Avery Dennison Corporation, 3M Company, Zebra Technologies Corporation, Brady Corporation, Alien Technology Corporation, Cenveo Corporation, Checkpoint Systems Inc., Hewlett Packard Enterprise Company, Tyco International Ltd., Johnson Controls International plc, Ivaanshi Printpack Private Limited, G.M. Label Manufacturing Ltd., Arora Print Packers Pvt. Ltd., Globe Traders Pvt. Ltd., SATO Corporation, Honeywell International Inc., HID Global Corporation, Datalogic S.p.A., Intermec Inc., Invengo Technology Pte. Ltd., Smartrac N.V., FineLine Technologies Inc., William Frick & Company Inc., Metalcraft Technologies Inc., Nexqo Technology Co. Ltd., Confidex Ltd., MSM Solutions Ltd., NXP Semiconductors N.V., Omni-ID Ltd., Camcode Limited
The inventory tags market report table of contents includes:
1. Executive Summary
2. Inventory Tags Market Characteristics
3. Inventory Tags Market Trends And Strategies
4. Inventory Tags Market – Macro Economic Scenario
5. Global Inventory Tags Market Size and Growth
….
31. Global Inventory Tags Market Competitive Benchmarking
32. Global Inventory Tags Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Inventory Tags Market
34. Inventory Tags Market Future Outlook and Potential Analysis
35. Appendix
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