Smart Labels Market to reach US$ 22.6 Bn by 2026
Verfasser: pradnya_86 on Thursday, 9 February 2017According to the research findings from Future Market Insights’ report, titled “Smart Labels Market: Global Industry Analysis and Opportunity Assessment, 2016–2026,” nearly 400,000 thousand units of smart labels sold globally in 2016 were accounted by Radio-Frequency Identification (RFID) technology, which amounted to an estimated US$ 2,493.9 million. Surging demand for RFID tags in the global retail industry have instrumented the boost in sales of smart labels, globally. Furthermore, the advantages of RFID smart labels in maintaining, tracking and updating stock & inventory databases is predicted to continue driving their demand around the globe in the coming years.
According to Future Market Insights,
The global market for smart labels amassed revenues worth US$ 4.7 billion in 2016, and is likely to reach US$ 22.6 billion market value by the end of 2026. During the forecast period, the global smart labels market size is anticipated to expand robustly at a CAGR of 17%.
Organized retail sector will continue to instrument rampant growth in global smart labels sales, while warehousing businesses in the world are expected to actively adopt smart labelling for their benefits in tracking products.