Smart Labels Market to Grow at a CAGR of 17% through 2026
Verfasser: pradnya_86 on Friday, 16 June 2017RFID segment anticipated to register 17.9% CAGR in the global smart labels market during the forecast period
RFID segment of the global smart labels market was estimated to account for a market share of more than 50% by the end of 2016 and is expected to gain over 200 basis points towards the close of the forecast period. This can be primarily attributed to an increasing growth of the organised retail sector. RFID segment in the global smart labels market was valued more than US$ 2,000 Mn in 2015 and is projected to reach a market value close to US$ 13,000 Mn by 2026, registering a CAGR of 17.9% during the forecast period. The segment is expected to create incremental $ opportunity of more than US$ 10,000 Mn from 2016 to 2026. In terms of volume, the RFID segment is expected to register a CAGR of 17.1% over the projected period. Demand for RFID smart labels has been continuously growing for the last few years, primarily due to increasing counterfeit incidents during shipping and distribution.
Rising preference for perishable food influences the demand for RFID tags