Global Radio Frequency Identification (RFID) Smart Label Market is Expected to Reach a Value of $4.9 billion by 2019

The report “Global Radio Frequency Identification (RFID) Smart Label Market by Type (Low Frequency RFID, High Frequency RFID, Ultra High Frequency RFID), by Application, and by Geography - Analysis and Forecast to 2019”, defines and segments the Radio Frequency Identification (RFID) Smart Label Market and forecasts the market size, by value and volume. The Global RFID smart Label Market was valued at $2.2 billion in 2014 and is expected to reach up to $4.9 billion by 2019, at a CAGR of 17% from 2014 to 2019.

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Radio frequency identification is the wireless application of electromagnetic fields to transfer data, for the purposes of automatically identifying and tracking tags attached to objects. The tags contain electronically stored information. Special tags are fixed to merchandise or books. The reasons for the high usage of RFID labels in retail inventory and pallet tracking are inventory shrinkage reduction, monitor unattended inventory, automatic item identification on mixed pallets, real-time notification of out-of-stock items, improvement of product replenishment, and efficiency in error reduction which helps reduce manual labor cost.

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Radio frequency identification systems are designed to help retailers boost their sales and protect their profits by increasing open merchandising opportunities while reducing shoplifting and internal theft. Globally, retail inventory tracking and pallet tracking were the leading market for radio frequency identification with a market share of 52% together in the year 2014. Retail, logistics, supply chain management, and apparel industries are expected to grow in the near future which has led to the growth of these tracking applications.

The RFID are majorly used for retail inventory tracking and pallet tracking. The retail inventory tracking application and pallet tracking together accounted for a market share of about 26% in 2014, which is the highest share of the total application market. The market size of the retail inventory tracking application in 2014 was worth $582.5 million and is expected to reach $1.2 billion by 2019 at a CAGR of 16.9%.

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In this report, the market has been segmented and forecast on the basis of geography, such as North America, Europe, Asia-Pacific & rest of the World. The report also includes market share and value chain analyses, along with market metrics such as drivers & restraints. In addition, it presents a competitive landscape and company profiles of the key players in the market.

Key players in the Radio Frequency Identification (RFID) Smart Label Market are -

  • Avery Dennison Corporation (U.S.)
  • Checkpoint Systems, Inc. (U.S.)
  • CCL Industries, Inc. (Canada)
  • SMARTRAC N.V. (The Netherlands), 
  • SATO Holdings Corporation (Japan)

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