GVR Report cover Smart Label Market Size, Share & Trends Report

Smart Label Market Size, Share & Trends Analysis Report By Technology (EAS, RFID), By Component (Transceivers, Memories), By Application (Retail Inventory, Equipment), By End-use (Automotive, Logistic), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-739-1
  • Number of Pages: 170
  • Format: Electronic (PDF)

Smart Label Market Size & Trends

The global smart label market size was valued at USD 36.95 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030. A smart label acts as a responsive electronic device that is embedded in the object body as an identification slip. They are configured with chips, antenna, and bonding wires which help in real-time tracking of assets and goods. A smart label is designed to implement advanced technology which leads to advantageous features such as automated reading, quick identification, re-programmability, high tolerance, and reduced errors. As a result, it is being preferred over conventional bar code systems in retail, FMCG, and logistics industries. These are mostly made from plastics, paper, and fibers.

U.S. Smart Label Market size and growth rate, 2023 - 2030

The U.S. was one of the major consumers of the global smart label market in the recent past. Improvement in inventory management, asset tracking, and consumer goods distribution has driven the market in the U.S.

A smart label is designed to receive, record, and transmit digital information which results in a significant reduction of total tracking time. Thus, rising industrial use of the aids to minimize human intervention and errors, owing to its accuracy and efficiency.

The smart label provides effective solutions for major challenges faced by retailers and manufacturers. This is widely used to prevent theft and shoplifting. Companies are investing to improve their anti-theft system in order to prevent revenue loss and inventory damage caused by shoplifting and theft. This, in turn, is expected to boost the demand over the forecast period.

Counterfeit is another key issue faced in numerous industries which leads to poor product performance, deterioration of brand, and threatened consumer safety. Increasing awareness in industry regarding the harmful effects of counterfeit is anticipated to further boost the demand, especially in the automotive and manufacturing industries.

Recent economic growth, rapid urbanization, and increasing per capita income in developing countries has propelled the demand in the recent past. However, the cost associated with installation of the smart label tracking systems is likely to hinder the market in growing economies. Furthermore, lack of uniformity in the standardization system and low susceptibility is predicted to obstruct the market growth over the forecast period.

Components Insights

The batteries segment accounted for the largest revenue share of 29.0% in 2022. The primary factor driving the segment is the continuous advancements in technology. The development of miniaturized electronic components and wireless communication technologies has enabled the integration of batteries into smart labels. These batteries power various functionalities of the smart labels, such as data storage, sensing capabilities, and wireless communication. The availability of compact and long-lasting batteries has made it possible to create smart labels that can operate for extended periods without requiring frequent battery replacements.

Global Smart Label Market share and size, 2022

The memories segment is expected to grow at the fastest CAGR of 5.8% during the forecast period. Increasing usage in inventory management and asset tracking is estimated to drive the demand for this market segment over the forecast period. Smart labels with memory components enable real-time tracking and monitoring of products throughout the supply chain. This helps in reducing inventory errors, improving order accuracy, and enhancing overall operational efficiency. With the increasing complexity of global supply chains, businesses are adopting smart labels to gain better visibility and control over their inventory.

Technology Insights

The RFID labels segment accounted for the largest revenue share of 50.8% in 2022. Flexibility to be applied on several substrates, automatic data capture, information accuracy, and real-time tracking are the key benefits associated with RFID labels.

The electronic shelf/dynamic display labels segment is expected to grow at the fastest CAGR of 6.2% during the forecast period. Usage of dynamic display labels is predicted to increase significantly on a dynamic display of product information and pricing would lead to easy price management and accuracy. The segment is projected to experience the fastest growth rate over the forecast period.

Regional Insights

Asia Pacific dominated the market and accounted for the largest revenue share of 33.3% in 2022 is expected to grow at the fastest CAGR of 5.6% during the forecast period. Rising disposable income coupled with rapid urbanization in developing regions has propelled the growth of retail, logistics, and FMCG industries in these regions. This, in turn, has led to growing demand for smart label in end-user industries.

Smart Label Market Trends, by Region, 2023 - 2030

Application Insights

The retail inventory segment accounted for the largest revenue share of 22.8% in 2022. Protective measures taken by retailers to prevent shoplifting and theft are estimated to drive substantial demand in retail inventory application over the forecast period.

Factors driving the adoption of smart labels in the retail inventory include the need for improved inventory management, increased demand for real-time data, and the growing adoption of IoT technologies. Smart labels offer retailers a more efficient and accurate way to manage their inventory, provide real-time data for better decision-making, and enable seamless integration with other IoT devices. As the retail industry continues to evolve, smart labels are expected to play a crucial role in optimizing inventory management processes and enhancing overall operational efficiency.

The perishable goods segment is expected to grow at the fastest CAGR of 6.1% during the forecast period. Smart label is being widely used in threshold detection and shelf life monitoring of perishable goods such as food, beverages, and medicines. The main factor driving the use of smart labels in the perishable goods segment is the need for enhanced supply chain visibility. Perishable goods require strict temperature control and monitoring throughout the supply chain to maintain their quality and safety. Smart labels equipped with sensors can provide real-time data on temperature, humidity, and other environmental conditions, allowing stakeholders to track and monitor the condition of perishable goods from production to consumption. This visibility helps identify potential issues or deviations from optimal conditions, enabling proactive measures to be taken to prevent spoilage or contamination.

End-use Insights

The retail segment accounted for the largest revenue share of 20.2% in 2022. Smart labels offer benefits that drive their adoption in the retail market. One key benefit is improved operational efficiency. With smart labels, retailers can automate various processes such as inventory management, price updates, and checkout procedures. This automation reduces human errors, saves time, and lowers operational costs. Additionally, smart labels enable retailers to track and trace products throughout the supply chain, enhancing visibility and enabling faster recall processes in case of product quality issues or safety concerns.

The healthcare & pharmaceutical segment is expected to grow at the fastest CAGR of 6.2% during the forecast period. Rising use in spoil detection of hospital goods, test samples, medical equipment, drugs are anticipated to bolster the demand in the healthcare & pharmaceutical. One of the major factors driving the demand for smart labels in the healthcare sector is the need to enhance patient safety. Smart labels provide real-time information about medications, including dosage instructions, potential side effects, and expiration dates. This enables healthcare professionals to ensure that patients receive the correct dosage and medication, reducing the risk of medication errors and adverse drug events. Additionally, smart labels can also assist in tracking medication usage and adherence, allowing healthcare providers to monitor patient compliance and intervene if necessary.

Key Companies & Market Share Insights

The key companies of the smart label industry primarily focus on expansion of product portfolio and production capacity. Major manufacturers are extensively investing in research and innovation to introduce products that can be used in specific applications. Manufacturers are focusing to strengthen their presence in emerging economies. The companies emphasize to enter into partnership collaboration and joint ventures to increase their market shares.

Key Smart Label Companies:

  • CCL Industries
  • Zebra Technologies Corp.
  • Alien Technology, LLC.
  • Checkpoint Systems, Inc.

Recent Developments

  • In January 2023, AVERY DENNISON CORPORATION entered into a contract to acquire Thermopatch, a player with expertise in labeling. Thermopatch will join the company's Apparel Solutions segment of Retail Branding and Information Solutions (RBIS). Through the utilization of this company's expertise, quality, and service, the merged business will be able to capitalize on its combined industry knowledge and fuel growth in external embellishments.

  • In January 2023, Pod Group in a strategic collaboration with SODAQ and Lufthansa Industry Solutions announced the introduction of a paper-thin monitoring tool in the form of a Smart Label, which is expected to revolutionize the logistics sector by enabling tracking of small and light products that was previously impossible with existing tracking tools.

  • In April 2023, CCL Industries disclosed the acquisition of two intelligent labels, Alert Systems ApS's intellectual property and eAgile Inc. The Healthcare & Specialty division of CCL Label will greatly benefit from the addition of eAgile, further integrating its RFID expertise throughout the organization. The technology from Alert will be a crucial addition to the company’s MAS platform at Checkpoint.

  • In July 2023, CCL Industries announced the acquisition of Faubel & Co. Nachf. GmbH, a German pharmaceutical label business. The acquisition increases organizational and operational capability of CCL Industries in Europe in order to establish a global presence.

  • In July 2022, Oil-Tech developed new smart label technology for time- and temperature-sensitive items. Products with a shelf life of five to fifteen days can utilize these smart labels, which have a built-in, temperature- and time-sensitive display indicator. This indicator gradually transforms from yellow to red, slower in mild temperatures and more quickly in warmer ones, both at known and repeatable rates. Retailers and customers can quickly understand the call to action provided by this straightforward color-changing indicator.

Smart Label Market Report Scope

Report Attribute


Market value in 2023

USD 39.10 billion

Revenue forecast in 2030

USD 55.55 billion

Growth Rate

CAGR of 5.1% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Technology, component, application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East and Africa

Country scope

U.S.; Canada; Mexico; Germany; France; Italy; UK; Tukey; China; India; Japan; Indonesia; Thailand; Argentina; Brazil; South Africa; UAE

Key companies profiled

AVERY DENNISON CORPORATION; CCL Industries; Zebra Technologies Corp.; Alien Technology, LLC.; Checkpoint Systems, Inc.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Smart Label Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global smart label market based on technology, component, application, end-use, and region:

  • Technology (Revenue, USD Million, Volume, Million Units, 2018 - 2030)

    • EAS Labels

    • RFID Labels

    • Sensing Labels

    • Electronic Shelf/Dynamic Display Labels

    • Near Field Communication (NFC) Tags

  • Component Outlook (Revenue, USD Million, Volume, Million Units, 2018 - 2030)

    • Transceivers

    • Memories

    • Batteries

    • Microprocessors

    • Others

  • Application Outlook (Revenue, USD Million, Volume, Million Units, 2018 - 2030)

    • Retail Inventory

    • Perishable Goods

    • Electronic & IT Assets

    • Equipment

    • Pallets Tracking

    • Others

  • End-use Outlook (Revenue, USD Million, Volume, Million Units, 2018 - 2030)

    • Automotive

    • Fast Moving Consumer Goods (FMCG)

    • Healthcare & Pharmaceutical

    • Logistic

    • Retail

    • Manufacturing

    • Others

  • Regional Outlook (Revenue, USD Million, Volume, Million Units, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • Italy

      • UK

      • Turkey

    • Asia Pacific

      • China

      • India

      • Japan

      • Indonesia

      • Thailand

    • Central & South America

      • Argentina

      • Brazil

    • Middle East & Africa

      • South Africa

      • UAE

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