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Smart Tag Packaging Market Size

Report ID: GMI7477
Published Date: Nov 2023
Report Format: PDF

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Smart Tag Packaging Market Size

Smart Tag Packaging Market was valued at over USD 9 million in 2022 and is estimated to register a CAGR of over 12% between 2023 and 2032.

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Smart tags provide real-time tracking and visibility into a product's journey from production to delivery. This visibility helps companies optimize their supply chains, reduce theft, and improve inventory management. Smart tag packaging enables interactive and personalized consumer experiences. Customers can access product information, promotions, and usage instructions by scanning the tag with their smartphones, enhancing brand engagement. For instance, in October 2022, Checkpoint Systems launched SFERO, a fully customizable, modular Radio-frequency Identification (RFID) as EAS solution for apparel with high detection performance to minimize losses and protect stores in new ways. Representing a seismic shift in RFID as EAS technology, SFERO enables retailers to accommodate any store layout and design. Smart tags can help authenticate products and combat counterfeiting, ensuring consumers receive genuine & safe products. Businesses can use smart tags to automate inventory control, reduce overstock or stockouts, and streamline reorder processes.

Smart Tag Packaging Market Report Attributes
Report Attribute	Details
Base Year:	2022
Smart Tag Packaging Market Size in 2022:	USD 9 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	12%
2032 Value Projection:	USD 30 Million
Historical Data for:	2018 to 2022
No. of Pages:	210
Tables, Charts & Figures:	279
Segments covered:	Type, application, and end use
Growth Drivers:	Increasing demand for smart packaging solutions Growing awareness about the benefits of smart tag packaging Technological advancements in smart tag technology Government regulations and initiatives Rising focus on sustainability
Pitfalls & Challenges:	Expensive than traditional packaging Complex technology

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A main restraint for the smart tag packaging market is the high cost associated with the implementation of smart technologies. Integrating RFID tags, Near-field Communication (NFC), or other smart components can add to the overall packaging cost, which can be a deterrent, especially for low-margin products. Concerns about data privacy and security in smart packaging systems have raised regulatory and consumer scrutiny, creating challenges in their implementation.

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

Industry size for smart tag packaging surpassed USD 9 million in 2022 and is projected to expand at over 12% growth rate from 2023-2032 owing to the increasing consumer awareness.

RFID smart tag packaging industry held over 36% of the revenue share in 2022 and is set to reach USD 13 million by the end of 2032 attributed to their widespread application in inventory management, asset tracking, and access control.

Asia Pacific held more than 37% of the smart tag packaging market revenue share in 2022 and is estimated to exhibit a robust CAGR from 2023-2032 owing to the rapid industrialization, technological advancements.

Some of the top smart tag packaging companies are Smartrac Technology Group (Part of Avery Dennison), Checkpoint Systems (A Division of CCL Industries), Sato Holdings Corporation, Zebra Technologies Corporation, Alien Technology, and Impinj, Inc.