Printable Inventory Tags Market To Gain Market Share With Increased Use Of Metal Type Inventory Tags
The inventory tracking need has increased considerably in the past few years due to rise in retail. Reports that investigate the packaging and transport industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is anticipated to attract a CAGR of approximately 4 % by the end of the forecast in 2022.
The effectual tracking of enterprise assets is anticipated to spur the printable inventory tags market. The development of a well-organized supply chain is promoting the use of inventory tags. As the adoption of real time tracking systems increases, the inventory tag market is anticipated to surge in the upcoming period.
Segmental Analysis
The segment-based assessment of the printable inventory tags market is conducted on the basis of technology, materials, end-use, and regions. On the basis of technology, the printable inventory tags market is segmented into RFID, barcode and QR Codes. Based on the materials, the printable inventory tags market is segmented into plastic, paper, and metals. On the basis of end-use, the printable inventory tags market is segmented into retail, industrial, logistics, and others. Based on the regions, the printable inventory tags market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW).
Detailed Regional Analysis
The regional analysis of the printable inventory tags market includes regions such as North America, Europe, Asia Pacific, and Rest of the World (RoW). As per the study, the European region is controlling the printable inventory tags market globally. The important factors like progress in technologies and concurrent implementation of the advanced products are powering the growth of this market in the European region. The Asia Pacific is the fastest mounting region for printable inventory tags market because of the intensifying awareness of using inventory tags, speedy growth in industrialization as well as the expanding retail industry are the factors powering the market in Asia Pacific region. This region is projected to develop at the fastest pace throughout the forecast period.
Competitive Analysis
The market has developed an incremental pace in the past few years, which is highlighted by the achievements in terms of valuation. The development of the resources needed to sustain against competition has improved greatly leading to an unprecedented growth rate. The governments around the world have also played a substantial role in the growth of the market in recent years. The intensification of investors in the market has played a pivotal role in the progress of the market. The reduction in the barrier to trade is expected to offer new areas for growth in the upcoming years. Also, the competition being observed in the market is not detrimental to the individual player’s development in the market. The monetary inflows in the market are being directed towards increasing the innovations in the core product offering offered in the market so that the growth doesn’t stagnate in the forthcoming period.
The distinguished companies operating in the printable inventory tags market are Tyco International Plc. (Ireland), Checkpoint Systems Inc. (U.S), 3M Company (U.S), Brady Corporation (U.S), Avery Dennison Corporation (U.S), Hewlett-Packard Company (U.S), Zebra Technologies Corporation (U.S), Alien Technology Inc. (U.S), Smartrac N.V. (The Netherlands), and Cenveo Inc. (U.S).
Industry Updates:
Jul 2019 Adler Modemärkte, German clothing store chain is intensifying its usage of RFID technology with a tag reading robotic system that tracks inventory at twenty of its stores, with strategies to position the system through forty-five locations. The system is made up of a robot known as TORY, which has an in-built UHF RFID reader and antenna array that gathers RFID data through stock-taking trips all over the stores. With the RFID placement, Adler's goal has been to grow its inventory accuracy and evade the misplacement of goods within its stores.
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