Global Inventory Tags Market was valued US$ 5.12 Bn in 2017 and is expected to reach US$ 7.31 Bn by 2026 at a CAGR of 4.55 % during the forecast period.
Efforts towards normalization, expanding application segments rising awareness for using inventory tags, and convergence of technologies are some major factors driving the growth of the global inventory tags market. Also, an increase in the per capita disposable income, especially in the developing economies across the globe is another key factor driving the global inventory tags market. Additionally, the imposition of strict laws pertaining to secure packaging and rapid industrialization are other key elements fuelling the global inventory tags market. Also, increasing importance given to package security as well as increasing security measures towards theft and counterfeiting are some other factors driving the growth of the overall global inventory tags market. However, lack of awareness of inventory tags technologies, high initial costs and lack of skilled labor are some key challenges pertaining to the global inventory tags market.
Metal tags are the most durable inventory tags and can withstand extreme conditions. The metal tag is widely used in military, industrial, aerospace and commercial applications. Aluminium, stainless steel and brass are the most common metals that are used to manufacture the metal tags.
Digital printing is expected to be the fastest-growing segment of the inventory tags market during the forecast period. The inventory tags market, by printing technology, is classified into nine segments, namely, digital printing, flexographic printing, gravure printing, thermal printing, screen printing, lithography, offset, and letterpress. The digital printing segment hold the highest market share in 2015 with its many benefits such as high-quality, cost-effective solution for industrial well-designed inventory tags with recycling options. Digital printing also uses ink-jet printing to print images.
Factors such as strong government support, efforts towards standardization, expanding application segments, the convergence of technologies, raising awareness of using inventory tracking technologies, growing urbanized population in China and India along with the rise in the disposable income in these countries are driving the growth of the Asia-Pacific inventory tags market. Rapid industrialization and imposition of strict laws pertaining to secure packaging are also major factors contributing to the growth of the inventory tags market. Currently, Europe is the most dominant region in global inventory tag market. Government support to demolish counterfeit products in the market and advancement in technologies are the key factors that maintain the region on top of the list.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, service, components, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the inventory tags market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Scope of Global Inventory Tags Market
Global Inventory Tags Market, By Label Type
- Plastics
- Paper
- Metal
- Others
Global Inventory Tags Market, By Printing Technology
- Digital Printing
- Flexography Printing
- Lithography Printing
- Screen Printing
- Gravure Printing
- Letterpress Printing
- Offset Printing
- Others
Global Inventory Tags Market, By End User
- Industrial
- Commercial
- Retail
- Others
Global Inventory Tags Market, By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Key players operating in Global Inventory Tags Market
- Avery Dennison Corporation
- 3M Company
- Zebra Technologies Corporation
- Brady Corporation
- Tyco International PLC.
- Checkpoint Systems, Inc
- Smartrac N.V.
- Hewlett-Packard Company
- Cenveo Inc.
- Alien Technology, Inc.
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