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Inventory Tags Market Research Report Information by Technology (Barcodes, RFID & QR Codes), by Materials (Metal, Plastic, and Paper), by End-User (Industrial, Retail, Logistic and Others) and by Region - Forecast to 2032


ID: MRFR/PNT/1956-HCR | 185 Pages | Author: Sakshi Gupta| July 2024

Inventory Tags Market Overview


Inventory Tags Market Size was valued at USD 5.31 billion in 2023. The Inventory Tags industry is projected to grow from USD 5.49 Billion in 2024 to USD 7.49 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.95% during the forecast period (2024 - 2032).


The report prepared for the Global inventory tags market consists of the extensive research conducted out by the industry experts and the analysts after the in-depth study of every minor aspect of the market. The reports bring along the quantitative and qualitative aspects of the inventory tags Industry to provide a clear picture to the business owner about the areas they lack behind and the necessary steps they need to take. Also, a precise inventory tags Market Analysis of the current market scenario is included in the report. The projected market size and the market's historical background let the business realize the position they stand at the moment. The recent technological advancements, factors affecting the growth, segmentation, and minor points like macroeconomic growth are also included in the report. Moreover, another essential aspect covered in the notification is the strategies planned and implemented by the major players in the markets.
Inventory Tags Market Overview


Regional Analysis:


Based on the regions, the inventory tag market is subdivided into the following:

  • Europe

  • North America

  • Asia pacific

  • Rest of the world


The region that dominates the inventory tags Market Size is the European region. The factors that are responsible for the growth of the inventory tags Market Revenue in the area include advancements in technology and the implementation of the revised technologies in a hoarded manner.


The part that is the fastest-growing region in the Asia Pacific. This is because there has been an increase in awareness about the inventory tagging system, and industrialization is taking place rapidly in these regions. Also, it is expected that it would grow at an ever-faster rate in the forecast period.


The other two areas, namely North America and the rest of the world, are not too far behind. There is a little slow inventory tags Market Growth in these regions that might pick up well in the recent future.


Inventory Tags Market Competitive Landscape:


List of the Major Key Companies in the Inventory Tags Market Include


Avery Dennison Corporation (U.S), Tyco International Plc. (Ireland), Smartrac N.V. (The Netherlands), 3M Company (U.S), Checkpoint Systems Inc. (U.S), Brady Corporation (U.S), Hewlett-Packard Company (U.S), Alien Technology Inc. (U.S), and Zebra Technologies Corporation (U.S).All these key players in the market have ensured that they come up with strategies that benefit them as a company and the entire inventory tags Market Trends. This is the reason that the market has been showing steady and fast growth. Moreover, the focus has always been on bringing advancements in technology, leading to much more growth.


COVID-19:


A phase that no one would ever forget. All because of the bad situations it has created the world over. With the onset of the Corona pandemic, life has taken a halt. A halt has hampered the lives of individuals and the organization on a smaller and larger scale. But waiting for the right time to come is not the solution here. There needs to be proper guidance and support from the mentors and the experts in the inventory tags Industry. That is what the reports have. Everything that a business would need to bounce back from the corona period. It has an in-depth inventory tags Market Analysis conducted by the experts, emphasizing the present inventory tags Market Trends and the historical aspects. Moreover, the report has also discussed the strategies and implementations that have made the competitors achieve the heights. This makes the owners and the organization's staff self analyze as to where they stand and the necessary steps that need to be taken. Let us hope to see an accelerated growth curve of this market in the near future.


Inventory Tags Market Dynamics:


With the inventory tags, Market Revenue is expected to grow from USD 4.08 billion to USD 5.07 billion by 2021, various factors include the inventory tags Market Outlook. A few of them are:



  • The awareness towards theft and loss has increased many folds. This awareness has led to an increase in the inventory tags Market Share.

  • The technology integration scope has also increased in the present.

  • The adoption of natural time tracking systems has also increased the popularity of the inventory tags market.

  • The demand for identifying the products without having any human interfere has also been the most popular thing, which has also increased the market's growth.


Sideways there are few factors that have proved to be a constraint in the growth of the market. These are:



  • Lack of awareness among the populations of almost most of the regions across the globe about the technological advancements and the uses of the inventory tags.

  • Support from the government is not as much as it should get.


Regulatory implications:


There are various regulatory implications laid down by the local, regional, and administrative bodies at the national level. These different in severity and clone depending int the region these are being used. The fact the metal inventory tags are the ones that are in the most significant demand ensures that the metal market is co-related to the inventory takes need. Various other products used as raw materials like paper and plastic are also other industries dependent in an indirect way on the inventory tags market. There are again multiple regulations on the use of paper and plastics, which have caused ill effects to the environment, which will be the majorly severe ones. Not to forget that plastics have been responsible for significant destruction effects to the ecosystem. Hence, the regulatory implications on the, somewhere affect the inventory tags Market Outlook too.


Inventory Tags Market segmentation:


The inventory tags market can be segmented into three broad categories. These are:



  • By technology

  • By materials

  • By end-use


By technology:


Based on the technology, the inventory tags market is further divided into the following subcategories:



  • RFID

  • Barcodes

  • QR codes


By materials:


Based on the materials, the market is further categorized into the following subdivisions:



  • Plastic

  • Metal

  • Paper


Out of these subtypes, the most popular segment is the metal segment. This is because of the long life and durability it provides to the inventory tags.


By end-use:


Based on the end-users, the following are the subdivisions of the segment:



Among the end-user segment's subdivisions, the Industrial segment dominates the market with a high percentage of share in the total inventory tags Market Value.


Recent advancements:


Few recent advancements in the inventory tags market include:


In March 2020, Smartac's RGID was acquired by Avery Dennison for an estimated amount of EUR 225 million. The collaboration assessed growth in the business to many folds.


In April 2020, a new factory offering was announced by Detago, a software solution provider. This new factory is responsible for ensuring that the factory's shipments are validated on the unit level itself to prevent any errors in the shipping.


Technological advancements have been taking place in the market at a high-speed rate.


Many big and small companies have collaborated to bring about the desired change in the market size and the inventory tags Market Value.


Inventory tagging are essential things that might seem small but have great importance in almost every product. These tags are attached to the items to give the necessary information about the product, its raw materials, and other elements. Various factors drive the inventory tags Market Size. These include the requirement for effective management of the supply chain and tracking of an organization's assets. Also, the system of accurate time tracking, which is getting popular these days, has also made the inventory tags Market jump on the success ladder. There are various materials used in the manufacture of inventory tags like plastics, metals, and others. The inventory tags that are made up of metal are more popular than the other ones. This is because they are most durable and last really long.


Additionally, some factors have been pulling back the inventory tags Market Growth. These factors include the high cost and lack of skilled labor for the same. It is expected that the inventory tag market would grow at a CAGR of 4.8% by 2030.

Report Attribute/Metric Details
Market Size 2023 USD 5.31 billion
Market Size 2024 USD 5.49 billion
Market Size 2032 USD 7.49 billion
Compound Annual Growth Rate (CAGR) 3.95% (2024-2032)
Base Year 2023
Forecast Period 2024-2032
Historical Data 2019 & 2020
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Technology, Materials and End-User
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Countries Covered The U.S, Canada, Germany, UK, China, Japan, India, Australia, South Korea.
Key Companies Profiled Avery Dennison Corporation (U.S), Tyco International Plc. (Ireland), Smartrac N.V. (The Netherlands), 3M Company (U.S), Checkpoint Systems Inc. (U.S), Brady Corporation (U.S), Hewlett-Packard Company (U.S), Alien Technology Inc. (U.S), and Zebra Technologies Corporation (U.S)
Key Market Opportunities New product launches and R&D Amongst major key Players
Key Market Dynamics Awareness towards theft and loss technology integration scope adoption of natural time tracking systems demand for identifying the products without having any human interfere


Frequently Asked Questions (FAQ) :

Lack of awareness of inventory tags technologies may hamper the growth of global inventory tags market.

Europe is the largest market for the inventory tags mainly due to advancements in technologies and strong government support.

On the basis of material, global inventory tags market is segmented into metal, plastic, and paper.

The global inventory tags market can expand at a CAGR of 3.95% during the forecast period.

Rising trend of online shopping and growing e-commerce companies is expected to penetrate the inventory tags market in the coming years.

The primary factor restraining the inventory tags market's growth is the lack of knowledge about the technologies in the inventory tags market.

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