North America Smart Labels Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

North America Smart Labels Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The North America smart labels market size reached US$ 3.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.9 Billion by 2027, exhibiting a growth rate (CAGR) of 13.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Smart labels, or smart tags, are innovative, transparent labels that enable consumers to access detailed information about a product through their smart devices. These labels provide details regarding ingredients, manufacturers, date of manufacturing and other crucial information. Moreover, smart labels offer easy traceability and help in maintaining the authenticity of a product. Owing to this, these labels are widely employed across several industries, such as food and beverage, automotive, healthcare, security and retail.

The North America smart labels market is currently being driven by several factors. The market in the region is growing substantially due to the rising penetration of smart labels in merchandise- and asset-tracking applications. Moreover, increasing labor costs and issues related to price integrity are some of the other factors, which are compelling manufacturers and retailers to use smart labels for product labelling. Furthermore, various organizations across industries have launched different initiatives in the region to increase the demand for smart labels. For instance, a smart label digital initiative has been introduced by the Grocery Manufacturers Association and the Food Marketing Institute in the North America food industry. Apart from this, there is a wide-scale usage of smart labels, such as RFID, EAS and NFC, by manufacturers and retailers. This enables them to track shipped products, thus creating numerous growth opportunities for market players in the region. Additionally, the increasing use of digital technology across various sectors will continue to fuel the smart labels market growth in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America smart labels market report, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on technology, component and end-user.

Key Regions Analysed
United States
Canada

Analysis for Each Country

Market by Technology
Radio-Frequency Identification (RFID)
Electronic Article Surveillance (EAS)
Electronic Shelf Label (ESL)
Sensing Labels
Near Field Communication (NFC)

Market by Component
Batteries
Transceivers
Microprocessors
Memories
Others

Market by End-User
Retail
Logistics and Transportation
Healthcare
Food and Beverage
Others

Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Competitive Landscape
Competitive Structure
Key Player Profiles

Key Questions Answered in This Report:
How has the North America smart labels market performed so far and how will it perform in the coming years?
What are the key regions in the North America smart labels market?
What has been the impact of COVID-19 on the North America smart labels market?
What is the breakup of the North America smart labels market on the basis of technology?
What is the breakup of the North America smart labels market on the basis of component?
What is the breakup of the North America smart labels market on the basis of end-user?
What are the various stages in the value chain of the North America smart labels industry?
What are the key driving factors and challenges in the North America smart labels industry?
What is the structure of the North America smart labels industry and who are the key players?
What is the degree of competition in the North America smart labels industry?
What are the profit margins in the North America smart labels industry?