The global smart label market is poised for substantial growth, with projections estimating the market size to reach $55.55 billion by 2030, according to a new report from ResearchAndMarkets.com. As the industry expands at a steady Compound Annual Growth Rate of 5.1 percent from 2023 to 2030, the integration of sophisticated anti-theft and anti-counterfeiting systems across various sectors is expected to significantly drive this demand.
With ongoing advancements and focused research leading to the development of enhanced smart label technologies tailored to specific applications, the market is witnessing notable trends that are expected to sustain its growth trajectory in the coming years. These smart labels offer a breadth of benefits including automation, improved data accuracy, and the facilitation of real-time tracking.
The RFID technology within smart labels dominates the market in terms of revenue, leveraging its versatility and efficiency over traditional labeling methods.
Emerging segments such as electronic shelf/dynamic display labels anticipate rapid growth with a forecasted CAGR of 6.2 percent, underscoring the dynamic nature of retail inventory management and the increasing demand for efficiency.
Smart labels continue to play a crucial role in retail environments, addressing key challenges such as shoplifting and theft prevention, with this segment being the predominant revenue contributor in 2022.
