Inventory Tags Market Set To Reach USD 8.19 Billion By 2032, Fueled By Growing Demand For Advanced Management Solutions And RFID Automation | SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The increasing adoption of RFID and automation technologies for efficient inventory management is a key driver for market growth.

Austin, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Market Size & Growth Insights:

According to the SNS Insider,“The Inventory Tags Market S ize was valued at USD 5.51 billion in 2023 and is expected to grow to USD 8.19 billion by 2032 and grow at a CAGR of 4.51% over the forecast period of 2024-2032.”

IoT and Smart Packaging Drive Transformation in the Inventory Tags Market

The inventory tags market is experiencing rapid growth, fueled by the integration of Internet of Things (IoT) technology and automation across industries such as retail, manufacturing, and logistics. The demand for IoT-enabled tags, which offer real-time tracking and data analysis, is soaring as businesses strive to enhance operational efficiency and streamline supply chain management. Retailers, in particular, are focusing on inventory optimization, with 67% prioritizing these technologies. Moreover, over 50% of companies utilizing IoT solutions have reported notable improvements in efficiency and cost reduction. The growing adoption of smart packaging and RFID systems is also contributing to enhance supply chain transparency, reducing waste, and improving product availability. As sustainability concerns rise, smart packaging has become essential in meeting eco-friendly consumer preferences, further propelling growth in the market. Despite challenges like initial costs and security issues, these innovations continue to drive the market's expansion.

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Leading Market Players with their Product Listed in this Report are:

• Zebra Technologies (RFID tags, barcode labels, and RFID printers)
• Avery Dennison (RFID tags, thermal transfer labels, and self-adhesive labels)
• SATO Holdings (RFID tags, thermal transfer labels, and printing solutions)
• Honeywell International (RFID tags, barcode scanners, and labeling solutions)
• Impinj (RFID tags and readers, including the Monza® chip series)
• Alien Technology (RFID tags, readers, and antennas)
• NXP Semiconductors (RFID chips and solutions for inventory tracking)
• Toshiba TEC (RFID printers, barcode printers, and labeling solutions)
• Cognex Corporation (Machine vision systems and barcode readers)
• Datalogic (Barcode scanners, RFID readers, and imaging solutions)
• Checkpoints Systems (EAS (Electronic Article Surveillance) tags and labels)
• RFID Global Solution (Custom RFID tags and solutions for asset tracking)
• Smartrac (RFID inlays and tags for various applications)
• Fujitsu (RFID solutions for inventory and asset management)
• Mühlbauer Group (RFID inlays and tags, including smart labels)
• Xerafy (RFID tags for industrial and supply chain applications) .

Inventory Tags Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 5.51 Billion
Market Size by 2032	USD 8.19 Billion
CAGR	CAGR of 4.51% From 2024 to 2032
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segmentation	. By Technology (Barcodes, RFID & QR Codes) . By Materials (Metal, Plastic, and Paper) . By End-User (Industrial, Retail, Logistic and Others)
Key Drivers	. Revolutionizing Inventory Management through Smart Packaging and IoT Integration. . Driving Efficiency through Supply Chain Digitization and Advanced Inventory Solutions.

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RFID and Plastic Lead the Charge in Inventory Tags Market with Innovation and Sustainability Driving Growth

By Technology

Radio Frequency Identification (RFID) technology dominates the inventory tags market, accounting for 64% of total revenue in 2023. RFID's real-time tracking, enhanced accuracy, and cost-efficiency make it a preferred choice for industries like retail and logistics. Companies such as Zebra Technologies and Avery Dennison have introduced innovative RFID solutions, improving inventory management and operational efficiency. The widespread adoption of RFID, driven by advancements in low-cost tags and increased read ranges, is particularly strong in China and the U.S., supported by investments in automation and digital transformation.

By Material

Plastic dominates the inventory tags market, holding 69% market share in 2023 due to its lightweight, durable, and cost-effective nature. Its resistance to moisture, chemicals, and temperature makes it ideal for industries like retail, logistics, and manufacturing. Plastic tags are easily customizable, with integrations for barcodes and RFID. Manufacturers are innovating with sustainable options like biodegradable and recyclable tags. North America and Asia-Pacific lead adoption, supported by investments in retail and logistics, while the shift to digital inventory management further strengthens plastic's market position.

North America and Asia Pacific Lead Growth in the Inventory Tags Market

In 2023, North America accounted for 41% of the inventory tags market, driven by technological advancements, a robust retail sector, and substantial investments in automation. The U.S. is at the forefront, with retailers and manufacturers adopting RFID and smart label solutions to improve inventory accuracy and supply chain efficiency. Companies like Zebra Technologies and Avery Dennison are launching innovative RFID solutions. Canada is also embracing digital inventory solutions, with a focus on sustainability, including eco-friendly options.

Asia Pacific is the fastest-growing region, led by China and India. China's investments in smart manufacturing and automation boost the adoption of IoT and RFID technologies. In India, the rise of e-commerce fuels demand for efficient tracking solutions. The region's young, tech-savvy population is driving the adoption of automated retail and advanced inventory technologies, offering significant growth opportunities.

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Recent Development

• On January 7, 2025, NXP Semiconductors announced its agreement to acquire TTTech Auto, a leader in software solutions for software-defined vehicles (SDVs), in an all-cash transaction valued at USD 625 million. This acquisition strengthens NXP's automotive business, enhancing its CoreRide platform and accelerating the transformation of SDVs by optimizing system performance, safety, and reducing complexity for automakers.
• On September 03, 2024, Toshiba Global Commerce Solutions, in partnership with Partron ESL, implemented electronic shelf labels (ESLs) in four stores for Event Network, a leading U.S. retailer for experiential attractions. The rapid deployment aims to enhance operational efficiency, profitability, and the shopper experience, with plans for a broader rollout in the next six months.
• August 06, 2024, Cognex Corporation launched an AI-powered counting tool for its In-Sight SnAPPTM vision sensor. The tool simplifies counting tasks in manufacturing, enhancing accuracy and efficiency across various industries such as food, pharmaceuticals, and automotive, without the need for complex programming.

T able o f Contents - Major Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Material Usage Trends, by Material Type, by Region, 2023

5.2 Upcoming Projects, by Region, by Type (Residential, Commercial, Industrial)

5.3 Building Permit Issuances, by Region, 2023

5.4 Labor Market Statistics, by Region, 2023

5.5 Technology Adoption, by Technology Type

6. Competitive Landscape

7. Inventory Tags Market Segmentation, by Technology

8. Inventory Tags Market Segmentation, by Materials

9. Inventory Tags Market Segmentation, by End-User

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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