Global Inventory Tags Market to Reach $ 5.07 billion by 2021 While “Europe is Projected to Dominate the Inventory Tags Market in 2021”
The global inventory tags market size is projected to grow from USD 4.08 billion in 2016 to reach USD 5.07 billion by 2021, at a CAGR of 4.43%. Increasing concerns for efficient tracking of an enterprise’s assets, the need for managing an efficient supply chain, and rising counterfeit products in the market are factors encouraging manufacturing to use inventory tags technologies.
Complete report on Inventory Tags Market spread across 237 Pages, Profiling 11 Companies and Supported with 236 Tables and 46 Figures is now available at http://www.rnrmarketresearch.com/inventory-tags-market-by-technology-barcodes-rfid-label-type-plastic-paper-metal-printing-technology-digital-printing-flexography-lithography-screen-printing-gravure-others-end-use-industrial-reta-st-to-2021-market-report.html
End-use sectors include industrial, retail, and logistics & transportation sectors. On the basis of region, report is segmented into North America, Europe, Asia-Pacific, & Rest of the World (RoW). Base year considered for the study is 2015 & inventory tags market size is projected from 2016 to 2021. Factors such as increasing protection against theft, loss, and counterfeiting; scope for technology integration; identification of products without human intervention or need of line-of-sight; and adoptions of real time tracking systems have propelled the growth of the global inventory tags market.
Target audience of the research are as follows
· Raw material suppliers
· Packaging manufacturers
· Logistics & shipment companies
· Inventory tags manufacturers
· Traders and distributors of inventory tags
· Commercial R&D institutions
· Associations and industry bodies
· End-use sectors such as the industrial, retail, and transport & logistics sectors
“Use of RFID technology in the industrial sector is projected to increase during the forecast period.”
Industrial sector is projected to be fastest-growing end-use sector in next five years. Due to stringent laws & regulations enacted by government towards theft and counterfeiting, & increasing importance given to package security by manufacturers, demand for inventory tags technologies is projected to grow in this sector.
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Europe accounted for largest share in inventory tags market in 2015, and is projected to dominate market during forecast period. Market for Asia-Pacific is projected to grow at highest CAGR during forecast period. Rise in counterfeit products present in market, increasing brand awareness, awareness among buyers about product information, growing e-commerce industry, developments in printing technologies, and concerns regarding impact of counterfeit products on brand image of genuine products are driving inventory tags market.
Due to technological developments in countries such as Germany, U.K., and France, inventory tags market in these countries is projected to grow at a much higher rate than remaining European countries.
Inventory tags ecosystem comprises of inventory tags manufacturers and vendors such Avery Dennison Corporation (U.S.), Tyco International plc (Ireland), 3M Company (U.S.), Brady Corporation (U.S.), and government and national associations such as IMDA, which helps manufacturers in development and growth of inventory tags products, technologies, and markets.
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In space of printing technology, there are several printing technologies available in market such as digital printing, flexography, lithography, screen printing, gravure, letterpress, & offset. Market for digital printing is set to have largest share with highest growth rate due to technological advantages of digital printing.
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