The inventory tags market has grown steadily in recent years. It will grow from $5.55 billion in 2023 to $5.8 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The expansion observed in the historical period can be attributed to the adoption of barcode technology, the development of RFID tags, the utilization of manual inventory management systems, the standardization of tagging systems, and the introduction of QR codes.
The inventory tags market is expected to see steady growth in the next few years. It will grow to $7.04 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth in the forecast period can be attributed to the demand for real-time tracking, the optimization of supply chain processes, the integration of cloud-based solutions, and a heightened focus on security and anti-theft measures. Key trends expected in the forecast period encompass advancements in RFID technology, the implementation of security and anti-counterfeiting measures, initiatives focused on sustainability, improvements in durability and longevity of inventory tags, and an increased emphasis on data analytics for inventory management.
The anticipated increase in fraudulent products is set to drive the growth of the inventory tags market in the foreseeable future. Fraudulent products, deliberately misrepresented or falsely labeled goods or services, pose a significant challenge due to factors such as their low cost, weak regulations, corruption, and ineffective enforcement. To address this issue, inventory tags play a crucial role by providing a means to track products throughout the supply chain, thereby verifying their authenticity. An example of this challenge is highlighted in a report from Business Wire, revealing a 47% increase in counterfeit medical products in 2021 compared to 2020, particularly affecting vaccines, COVID-19 test kits, medicines, antibiotics, and sanitizers. Consequently, the rise of fraudulent products contributes to the growth of the inventory tags market.
The surge in e-commerce growth is expected to propel the expansion of the inventory tags market. E-commerce growth involves the buying and selling of goods and services over the internet, and inventory tags play a vital role in maintaining accurate stock information, optimizing operations, and enhancing overall supply chain efficiency in this context. As per data from the United States Census Bureau in November 2023, U.S. retail e-commerce sales reached $284.1 billion in the third quarter of the same year, reflecting a 2.3% increase from the previous quarter. This growth in e-commerce further drives the demand for inventory tags, supporting efficient supply chain management.
Technological advancements emerge as a prominent trend gaining momentum in the inventory tags market. Companies operating in this market are adopting new technologies to ensure they remain competitive. An illustration of this trend is the launch of the Popsicle RAIN RFID Flag Tag by SimplyRFiD in March 2023. This RFID tag, designed for use in various industries, including pharmaceuticals, electronics, and automotive, provides precise tracking and identification of products. Its unique design, featuring a transparent adhesive section and a non-adhesive RFID flag, makes it particularly suitable for labeling solid-surface products while maintaining visibility of product information.
Major companies in the inventory tags industry are pursuing strategic partnerships to gain a competitive edge and enhance real-time traceability and asset management visibility. Strategic partnerships involve leveraging each other's strengths and resources for mutual benefits. A notable example is the partnership between SATO Holdings Corporation and Xerafy in August 2021. SATO, a Japan-based company specializing in auto-identity (ID) technology products, collaborated with Xerafy, a Hong Kong-based RFID engineering specialist, to provide innovative metal skin RFID labels to global markets. These labels offer a cost-effective solution for tracking stock in various industries, including manufacturing, automotive, and healthcare.
In May 2022, HID Global, a U.S.-based secure identity products manufacturer, acquired Vizinex RFID for an undisclosed amount. This strategic acquisition expands HID Global's portfolio with high-performance passive RFID tags, strengthening its position in markets such as manufacturing, healthcare, and oil and gas. Vizinex RFID, based in the U.S., is a manufacturer of radio frequency identification (RFID) tags.
Major companies operating in the inventory tags market report are Avery Dennison Corporation, 3M Company, Zebra Technologies Corporation, Brady Corporation, Alien Technology Corporation, Cenveo Corporation, Checkpoint Systems Inc., Hewlett Packard Enterprise Company, Tyco International Ltd., Johnson Controls International plc, Ivaanshi Printpack Private Limited, G.M. Label Manufacturing Ltd., Arora Print Packers Pvt. Ltd., Globe Traders Pvt. Ltd., SATO Corporation, Honeywell International Inc., HID Global Corporation, Datalogic S.p.A., Intermec Inc., Invengo Technology Pte. Ltd., Smartrac N.V., FineLine Technologies Inc., William Frick & Company Inc., Metalcraft Technologies Inc., Nexqo Technology Co. Ltd., Confidex Ltd., MSM Solutions Ltd., NXP Semiconductors N.V., Omni-ID Ltd., Camcode Limited.
North America was the largest region in the inventory tags market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global inventory tags market during the forecast period. The regions covered in the inventory tags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the inventory tags market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of inventory tags include plastic, paper, metal, and others. Plastic inventory tags are specifically made from plastic material, designed for durability, weather resistance, and longevity. They find application in industries such as manufacturing, warehousing, and transportation, where they are utilized for tracking and managing inventory items. Various printing technologies, including offset printing, digital printing, flexography printing, gravure printing, and others, are employed by industrial, commercial, retail, and other end-users for creating these tags.
The inventory tags market research report provides inventory tags market statistics, including the inventory tags industry global market size, regional shares, competitors with an inventory tags market share, detailed inventory tags market segments, market trends, and opportunities, and any further data you may need to thrive in the inventory tags industry. This inventory tags market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The inventory tags market consists of sales of barcode tags, radio frequency identification (RFID) tags, manual tags, magnetic tags, and color-coded tags. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The inventory tags market is expected to see steady growth in the next few years. It will grow to $7.04 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth in the forecast period can be attributed to the demand for real-time tracking, the optimization of supply chain processes, the integration of cloud-based solutions, and a heightened focus on security and anti-theft measures. Key trends expected in the forecast period encompass advancements in RFID technology, the implementation of security and anti-counterfeiting measures, initiatives focused on sustainability, improvements in durability and longevity of inventory tags, and an increased emphasis on data analytics for inventory management.
The anticipated increase in fraudulent products is set to drive the growth of the inventory tags market in the foreseeable future. Fraudulent products, deliberately misrepresented or falsely labeled goods or services, pose a significant challenge due to factors such as their low cost, weak regulations, corruption, and ineffective enforcement. To address this issue, inventory tags play a crucial role by providing a means to track products throughout the supply chain, thereby verifying their authenticity. An example of this challenge is highlighted in a report from Business Wire, revealing a 47% increase in counterfeit medical products in 2021 compared to 2020, particularly affecting vaccines, COVID-19 test kits, medicines, antibiotics, and sanitizers. Consequently, the rise of fraudulent products contributes to the growth of the inventory tags market.
The surge in e-commerce growth is expected to propel the expansion of the inventory tags market. E-commerce growth involves the buying and selling of goods and services over the internet, and inventory tags play a vital role in maintaining accurate stock information, optimizing operations, and enhancing overall supply chain efficiency in this context. As per data from the United States Census Bureau in November 2023, U.S. retail e-commerce sales reached $284.1 billion in the third quarter of the same year, reflecting a 2.3% increase from the previous quarter. This growth in e-commerce further drives the demand for inventory tags, supporting efficient supply chain management.
Technological advancements emerge as a prominent trend gaining momentum in the inventory tags market. Companies operating in this market are adopting new technologies to ensure they remain competitive. An illustration of this trend is the launch of the Popsicle RAIN RFID Flag Tag by SimplyRFiD in March 2023. This RFID tag, designed for use in various industries, including pharmaceuticals, electronics, and automotive, provides precise tracking and identification of products. Its unique design, featuring a transparent adhesive section and a non-adhesive RFID flag, makes it particularly suitable for labeling solid-surface products while maintaining visibility of product information.
Major companies in the inventory tags industry are pursuing strategic partnerships to gain a competitive edge and enhance real-time traceability and asset management visibility. Strategic partnerships involve leveraging each other's strengths and resources for mutual benefits. A notable example is the partnership between SATO Holdings Corporation and Xerafy in August 2021. SATO, a Japan-based company specializing in auto-identity (ID) technology products, collaborated with Xerafy, a Hong Kong-based RFID engineering specialist, to provide innovative metal skin RFID labels to global markets. These labels offer a cost-effective solution for tracking stock in various industries, including manufacturing, automotive, and healthcare.
In May 2022, HID Global, a U.S.-based secure identity products manufacturer, acquired Vizinex RFID for an undisclosed amount. This strategic acquisition expands HID Global's portfolio with high-performance passive RFID tags, strengthening its position in markets such as manufacturing, healthcare, and oil and gas. Vizinex RFID, based in the U.S., is a manufacturer of radio frequency identification (RFID) tags.
Major companies operating in the inventory tags market report are Avery Dennison Corporation, 3M Company, Zebra Technologies Corporation, Brady Corporation, Alien Technology Corporation, Cenveo Corporation, Checkpoint Systems Inc., Hewlett Packard Enterprise Company, Tyco International Ltd., Johnson Controls International plc, Ivaanshi Printpack Private Limited, G.M. Label Manufacturing Ltd., Arora Print Packers Pvt. Ltd., Globe Traders Pvt. Ltd., SATO Corporation, Honeywell International Inc., HID Global Corporation, Datalogic S.p.A., Intermec Inc., Invengo Technology Pte. Ltd., Smartrac N.V., FineLine Technologies Inc., William Frick & Company Inc., Metalcraft Technologies Inc., Nexqo Technology Co. Ltd., Confidex Ltd., MSM Solutions Ltd., NXP Semiconductors N.V., Omni-ID Ltd., Camcode Limited.
North America was the largest region in the inventory tags market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global inventory tags market during the forecast period. The regions covered in the inventory tags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the inventory tags market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of inventory tags include plastic, paper, metal, and others. Plastic inventory tags are specifically made from plastic material, designed for durability, weather resistance, and longevity. They find application in industries such as manufacturing, warehousing, and transportation, where they are utilized for tracking and managing inventory items. Various printing technologies, including offset printing, digital printing, flexography printing, gravure printing, and others, are employed by industrial, commercial, retail, and other end-users for creating these tags.
The inventory tags market research report provides inventory tags market statistics, including the inventory tags industry global market size, regional shares, competitors with an inventory tags market share, detailed inventory tags market segments, market trends, and opportunities, and any further data you may need to thrive in the inventory tags industry. This inventory tags market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The inventory tags market consists of sales of barcode tags, radio frequency identification (RFID) tags, manual tags, magnetic tags, and color-coded tags. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Inventory Tags Market Characteristics3. Inventory Tags Market Trends and Strategies31. Global Inventory Tags Market Competitive Benchmarking32. Global Inventory Tags Market Competitive Dashboard33. Key Mergers and Acquisitions in the Inventory Tags Market
4. Inventory Tags Market - Macro Economic Scenario
5. Global Inventory Tags Market Size and Growth
6. Inventory Tags Market Segmentation
7. Inventory Tags Market Regional and Country Analysis
8. Asia-Pacific Inventory Tags Market
9. China Inventory Tags Market
10. India Inventory Tags Market
11. Japan Inventory Tags Market
12. Australia Inventory Tags Market
13. Indonesia Inventory Tags Market
14. South Korea Inventory Tags Market
15. Western Europe Inventory Tags Market
16. UK Inventory Tags Market
17. Germany Inventory Tags Market
18. France Inventory Tags Market
19. Italy Inventory Tags Market
20. Spain Inventory Tags Market
21. Eastern Europe Inventory Tags Market
22. Russia Inventory Tags Market
23. North America Inventory Tags Market
24. USA Inventory Tags Market
25. Canada Inventory Tags Market
26. South America Inventory Tags Market
27. Brazil Inventory Tags Market
28. Middle East Inventory Tags Market
29. Africa Inventory Tags Market
30. Inventory Tags Market Competitive Landscape and Company Profiles
34. Inventory Tags Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
This report provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on inventory tags market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for inventory tags? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
Markets Covered:1) By Type: Plastic; Paper; Metal; Other Types
2) By Printing Technology: Offset Printing; Digital Printing; Flexography Printing; Gravure Printing; Other Printing Technologies
3) By End-Users: Industrial; Commercial; Retail; Other End-Users
Key Companies Mentioned: Avery Dennison Corporation; 3M Company; Zebra Technologies Corporation; Brady Corporation; Alien Technology Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Avery Dennison Corporation
- 3M Company
- Zebra Technologies Corporation
- Brady Corporation
- Alien Technology Corporation
- Cenveo Corporation
- Checkpoint Systems Inc.
- Hewlett Packard Enterprise Company
- Tyco International Ltd.
- Johnson Controls International plc
- Ivaanshi Printpack Private Limited
- G.M. Label Manufacturing Ltd.
- Arora Print Packers Pvt. Ltd.
- Globe Traders Pvt. Ltd.
- SATO Corporation
- Honeywell International Inc.
- HID Global Corporation
- Datalogic S.p.A.
- Intermec Inc.
- Invengo Technology Pte. Ltd.
- Smartrac N.V.
- FineLine Technologies Inc.
- William Frick & Company Inc.
- Metalcraft Technologies Inc.
- Nexqo Technology Co. Ltd.
- Confidex Ltd.
- MSM Solutions Ltd.
- NXP Semiconductors N.V.
- Omni-ID Ltd.
- Camcode Limited
Methodology
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