PUBLISHER: Grand View Research | PRODUCT CODE: 1571538
PUBLISHER: Grand View Research | PRODUCT CODE: 1571538
The global smart label market size is expected to reach USD 55.6 billion by 2030, expanding at a CAGR of 5.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. Installation of efficient anti-theft and anti-counterfeit systems in several end-user industries is projected to propel the demand. Constant research and innovation efforts to design advanced and application-specific products are expected to be the key trends in the global market over the next few years.
Rapid urbanization and rise in disposable income of consumers have propelled key end-user industries such as retail, FMCG, and healthcare & pharmaceutical in Asia Pacific in the recent past. Growing economic trends in China, India, Japan, South Korea, and South East Asian countries have created lucrative opportunities in the market.
Usage of smart label helps companies to prevent key issues such as theft, shoplifting, and counterfeit. Thus, emerging presence of key retail and manufacturing industries in developing regions is projected to accelerate the growth of smart label market in the next few years.