Smart Labels Market Size to Boom With Increasing Demand From Packaging, Automotive, Construction, Healthcare, FMCG, and Retail Sector by 2028 | Radiant Insights, Inc.

SAN FRANCISCO, Jan. 8, 2020 /PRNewswire/ -- Global Smart Labels Market is estimated to expand at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe. This is attributed to their ever-increasing demand in packaging, automotive, construction, healthcare, FMCG, and retail. The market is likely to get catalyzed by need for automated and streamlines operations in the businesses.Market ScopeSmart labels do render reliability and simple operation. The other benefits include theft protection and aversion of counterfeiting. As such, the manufacturers are investing extensively in lessening revenue loss and inventory damage due to shop lifting and theft. It's a known fact that "counterfeit" results in poor performance of product along with brand deterioration; thereby threatening safety of consumers. Growing focus on reduction of counterfeit problems is expected to create a positive impact on smart labels market; especially from automotive and manufacturing sectors.TrendsThe latest trends catching up on this count include enhancements like electronic article surveillance tags and specifically configured RFID tags. The configuration consists of bonding wires, chip, and antenna. They aid in having the goods tracked and are also designed for recording, receiving, and transmitting digital information; which, in turn, does reduce tracking time on significant basis. The best part of smart labels is that human intervention holds minimal share.
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