A recent report published by Infinium Global Research on inventory tags market provides in-depth analysis of segments and sub-segments in the global as well as regional inventory tags market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional inventory tags market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global inventory tags market. According to the report, the global inventory tags market is projected to grow at a CAGR of 4.41% over the forecast period of 2019-2025.
For identification and differentiation, the objects in the inventories are labeled or tagged. The tags help in the smooth functioning of the warehouse and proper inventory management. The inventory tags can be of various types depending on the material and identification technology. The market for inventory tags is highly competitive and consolidated in nature. Only a few of the major players in the market control a substantial part of the market share. The key players in the market including 3M Company, Avery Dennison Corporation, Tyco International plc, Checkpoint Systems, Inc, Brady Corporation, Zebra Technologies Corporation, Alien Technology Inc and others are focusing on developing innovative products and technologies to sustain their share in the market.
The rise in the use of inventory tags is majorly driving the inventory tags market. Increasing demand for track and trace technology for inventory management has expanded in order to decrease the overhead expenses and wastage in the inventories. Moreover, the growing efforts toward standardization are expanding the demand for inventory tags. Through standardization, the functioning in the inventories can be carried out smoothly, which reduces the time and effort for inventory management. Furthermore, the increasing demand for efficient tracking is supporting the growth of the inventory tags market. However, the lack of skilled labor and the high initial cost is the major restraining factor for the growth of the inventory tags market. Nevertheless, the growth in the e-commerce industry is expected to offer lucrative opportunities for the key players in the inventory tags market. The e-commerce companies need warehouses to store their goods, which require tags to manage them properly.
In terms of geography, Europe generated the highest revenue for inventory tags, dominating the global market. The largest market share of the European region attributed to the government initiative to annihilate counterfeit products and advancement in technologies. Moreover, the highly organized industries and retail sectors in the region are expected to grow the Europe inventory tags market.
The report on global inventory tags market covers segments such as material, technology, and end users. On the basis of material, the sub-markets include plastics, paper, metal, and other materials. On the basis of technology, the sub-markets include barcode, RFID, and QR code. On the basis of end users, the sub-markets include industrial, logistics, retail, and other end users.
The report provides profiles of the companies in the market such as 3M Company, Avery Dennison Corporation, Tyco International plc, Checkpoint Systems, Inc, Brady Corporation, Zebra Technologies Corporation, Alien Technology Inc., Smartrac N.V., Hewlett-Packard Company, Cenveo Corporation, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of inventory tags market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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