Dublin, Sept. 01, 2023 (GLOBE NEWSWIRE) -- The "Inventory Tags Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report offers comprehensive insights into the global inventory tags market and its potential growth trajectory up to 2027.
The global inventory tags market is poised to expand from $5.32 billion in 2022 to $5.55 billion in 2023, reflecting a Compound Annual Growth Rate (CAGR) of 4.2%. Despite setbacks induced by the Russia-Ukraine conflict, which disrupted global economic recovery post the COVID-19 pandemic, the inventory tags market is projected to attain $6.64 billion by 2027, boasting a CAGR of 4.6%.
Market Overview: Inventory tags are labels or markings affixed to items or containers, containing critical information such as item name, description, quantity, location, and other details necessary for efficient inventory management.
Types of Inventory Tags: The primary types of inventory tags include plastic, paper, metal, and other materials. Plastic inventory tags, renowned for their durability, weather-resistance, and longevity, find applications in industries like manufacturing, warehousing, and transportation, facilitating the tracking and management of inventory items. Various printing technologies, such as offset printing, digital printing, flexography printing, and gravure printing, cater to industrial, commercial, retail, and other end-users.
Technological Advancements: An emergent trend in the inventory tags market is the adoption of advanced technologies by industry players. For instance, Sato Holding Corporation introduced ASETRA, a radio frequency identification (RFID) asset management system. This innovative solution streamlines the management of special tools and returnable items for manufacturers and logistics service providers, storing service information digitally through RFID tags.
Acquisitions and Expansion: Strategic acquisitions and expansions are shaping the inventory tags market landscape. HID Global, a US-based secure identity products manufacturer, acquired Vizinex RFID to enrich its portfolio with high-performance passive RFID tags, augmenting its presence in the manufacturing, healthcare, and oil and gas sectors.
Market Drivers: The rise of fraudulent products is anticipated to drive the inventory tags market's expansion. Fraudulent products, misrepresented or falsely labeled, can be curbed through inventory tags, which enable product tracking and verification across the supply chain. The inventory tags market aids in countering counterfeit medical products, ensuring authenticity and consumer safety.
Conclusion: The inventory tags market holds substantial growth potential, particularly with the increasing demand for technologies combating fraudulent products. Technological advancements, acquisitions, and regulatory compliance remain pivotal for success in this evolving industry.
Reasons to Purchase:
- Gain a comprehensive global perspective with a report encompassing 50+ geographies.
- Understand the market's response to the COVID-19 pandemic and its subsequent recovery.
- Assess the impact of the Russia-Ukraine conflict on commodities, energy, and mineral supply, influencing market dynamics.
- Measure the implications of high global inflation on market growth.
- Develop regional and country-specific strategies based on localized data and analysis.
- Identify growth opportunities and investment prospects across distinct segments.
- Outperform competitors using forecast data and capitalize on market drivers and trends.
- Gain insights into customer preferences through the latest market shares.
- Benchmark performance against key competitors.
- Facilitate internal and external presentations with reliable high-quality data and analysis, supplemented with an excel dashboard format.
Key Questions Answered:
- Where is the largest and fastest-growing market for inventory tags?
- How does the inventory tags market correlate with the overall economy, demography, and analogous markets?
- What pivotal forces are set to shape the future of the inventory tags market? The global inventory tags market report addresses these queries and more.
Competitive Portfolio
- Avery Dennison Corporation
- 3M Company
- Zebra Technologies Corporation
- Brady Corporation
- Alien Technology Corporation
- Cenveo Corporation
- Checkpoint Systems Inc.
- Brady Corporation
- Hewlett-Packard Company
- Tyco International Plc
- Johnson Controls International Plc
- Ivaanshi Printpack
- G M LABEL MANUFACTURING
- Arora Print
- Globe Traders
For more information about this report visit https://www.researchandmarkets.com/r/siseti
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
