LONDON, April 18, 2016 /PRNewswire/ -- "Increasing focus of manufacturers on real-time tracking is projected to drive the inventory tags market"
The global inventory tags market size is projected to grow from USD 4.08 billion in 2016 to reach USD 5.07 billion by 2021, at a CAGR of 4.43%. Increasing concerns for efficient tracking of an enterprise's assets, the need for managing an efficient supply chain, and rising counterfeit products in the market are factors encouraging manufacturing to use inventory tags technologies. Real time tracking has wide applications in industry verticals such as healthcare, logistics & transportation, industrial manufacturing, process industries, government, defense, and retail among others.
"Use of RFID technology in the industrial sector is projected to increase during the forecast period."
The industrial sector is projected to be the fastest-growing end-use sector in the next five years. Due to the stringent laws & regulations enacted by the government towards theft and counterfeiting, and the increasing importance given to package security by manufacturers, the demand for inventory tags technologies is projected to grow in this sector.
"Europe is projected to dominate the inventory tags market in 2021"
Europe accounted for the largest share in the inventory tags market in 2015, and is projected to dominate the market during the forecast period. The market for Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Rise in counterfeit products present in the market, increasing brand awareness, awareness among buyers about product information, the growing e-commerce industry, developments in printing technologies, and concerns regarding the impact of counterfeit products on the brand image of genuine products are driving the inventory tags market. Due to technological developments in countries such as Germany, the U.K., and France, the inventory tags market in these countries is projected to grow at a much higher rate than the remaining European countries
Breakdown of Primaries:
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of the inventory tags market. Primary sources include professionals such as opinion leaders, executives, vice presidents, and CEOs of companies in the packaging, inventory tags, and labeling industries. The following is the breakdown of primaries:
By Company Type: Tier 1: 50%; Tier 2: 33%; Tier 17%
By Designation: Director Level: 50%; C-level: 17%; Others: 33%
By Region: Asia-Pacific: 67%; Europe: 18%; RoW: 17%
Note: Others include sales managers, marketing managers, and product managers
Tier-1: Revenue >USD 500 million
Tier-2: Revenue USD 100 to USD 500 million
Tier 3: Revenue < USD 100 million
The various key inventory tags companies profiled in the report are as follows:
1. Avery Dennison Corporation (U.S.)
2. Tyco International Plc. (Ireland)
3. 3M Company (U.S.)
4. Brady Corporation. (U.S.)
5. Zebra Technologies Corporation (U.S.)
6. Checkpoint Systems Inc. (U.S.)
7. Smartrac N.V. (The Netherlands)
8. Cenveo Inc. (U.S.)
9. Alien Technology, Inc. (U.S.)
10. Hewlett-Packard Company (U.S.)
This report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the inventory tags market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights about their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, agreements, expansions, investments, contracts, partnerships, joint ventures, and acquisitions.
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