Inventory Tags Market, By Material (Plastic, Vinyl, Paper, and Metal), By Technology (Barcode, QR Codes, and Radio Frequency Identification Device (RFID), By The Printing Method (Digital Printing, Letter Pass Printing, Flexographic, Screen Printing, and Thermal Transfer Printing), By The End-Users (Manufacturing Units, Logistics, Retail, SMES, and Military Warehouses): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

According to the report published by Zion Market Research, global demand for Inventory Tags Market was valued at approximately USD 4.66 Billion in 2019, and is expected to generate revenue of around USD 6.34 Billion by end of 2026, growing at a CAGR of around 4.5% between 2020 and 2026.

22-Oct-2020 | Number of pages: 110 | Report Code: ZMR-420 | Report Format : | Status : Published

Abstract

According to the report published by Zion Market Research, global demand for Inventory Tags Market was valued at approximately USD 4.66 Billion in 2019, and is expected to generate revenue of around USD 6.34 Billion by end of 2026, growing at a CAGR of around 4.5% between 2020 and 2026.

Global Inventory Tags Market: Overview

The tag attached to the inventory goods to include the necessary details on finished merchandise, raw materials and other storage goods is referred to as the inventory tag. Stock tags play a crucial role in the administration of inventories, the streamlining of manufacturing and the preservation and preparation of the purchase of raw materials. Supply chain facilities are totally based on inventory for product sort, specification and quantity recognition. The introduction of inventory tags has driven end-users to reduce their operating time and reduce the cost of unplanned transactions. As a result of the implementation of various new developments in material control, total productivity has improved as well as advantages for the efficient monitoring of products in an immense manufacturing plant.

Global Inventory Tags Market: Growth Factors

Growing developments in online shopping and growing e-commerce firms have driven owners to set up warehouses to manage SKUs and process inventory data on the basis of order flow; this is a cause responsible for raising demand for inventory tags. Increased disposable incomes in developing countries have led to a high demand for retail products, which indirectly boosts the growth of the market for inventory tags. Wide application of inventory tags in the Logistics or Supply Chain Management System to monitor the item in real time and avoid counterfeit products is a major application to maintain market growth. In the other hand, the lack of knowledge of the new inventory technology in emerging regions limits demand development in inventory tags.

Global Inventory Tags Market: Segmentation

Inventory tags are developed on the basis of different considerations, such as materials, technology and printing and application methods. Further to the material used in manufacturing, the global market is classified as plastic, vinyl, paper and metal. From which metal tags are more durable. The types of metal used are stainless steel and aluminium. Moreover, based on technology, the global industry is segmented as a barcode, QR code and radio frequency identification device (RFID). Printing media is classified as optical printing, letter-pass printing, flexographic, screen printing and thermal transfer printing. Inventory tag end-users are categorised as manufacturing, logistics, and retail, small and medium-sized businesses to military warehouses. Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Inventory Tags Market: Regional Analysis

Geographically, Europe leads the global demand for inventory tags and is also expected to maintain its position in the future due to technical advances and the parallel implementation of developed goods. Asia-Pacific is projected to expand at a rapid pace due to the industrialization of warehouses and the rising retail industry in India and China. North America is also rising dramatically due to the high use of barcodes in the food industry. Middle East and Africa region is projected to witness higher growth in the demand for inventory tags over the forecast period.

Global Inventory Tags Market: Competitive Players

Some main participants of the inventory tags market are Avery Dennison Corporation, Brady Corporation, Tyco International PLC, Smartrac N.V, Hewlett-Packard Company, 3M Company, Zebra Technologies Corporation, Checkpoint Systems, Inc., Cenveo Inc., and Alien Technology Inc. among others. Major players in the global market are focusing on strengthening position in the target industry by applying various business strategies.

Inventory Tags Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

Increasing trend of online shopping and growing e-commerce companies has led the owners to set up the warehouse to maintain the SKUs and to process the data of the inventories based on the order flow; this is a factor responsible for boosting the demand for inventory tags.

According to Zion Market Research, global demand for Inventory Tags Market is expected to generate revenue of around USD 6.34 Billion by end of 2026, growing at a CAGR of around 4.5 % between 2020 and 2026.

The Europe market are projected to hold the significant share globally in the future. The growth is attributed to advancement in technologies and simultaneous implementation of the developed products in the countries of these regions.

Some main participants of the inventory tags market are Avery Dennison Corporation, Brady Corporation, Tyco International PLC, Smartrac N.V, Hewlett-Packard Company, 3M Company, Zebra Technologies Corporation, Checkpoint Systems, Inc., Cenveo Inc., and Alien Technology Inc. among others.

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