Inventory Tags Market: Growth Trends 2023-2030

Triton Market Research presents the Global Inventory Tags Market report sectioned by Technology (Barcodes, RFID, Other Technologies), Printing Technology (Digital Printing, Flexography Printing, Gravure Printing, Offset Printing, Other Printing Technologies), End-user (Retail, Transportation and Logistics, Industrial, and Other End-users), Label Type (Paper, Plastics, Metal, Other Label Types), and Regional Outlook (Latin America, Middle East and Africa, North America, Asia-Pacific, Europe). 

The report further includes the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Regulatory Framework, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

According to Triton’s research report, the global market for inventory tags is expected to witness revenue growth at a CAGR of 4.71% during the forecast period 2023-2030.

An inventory tag is a barcode label that assists companies in tracking and monitoring their product movement. Moreover, it helps maintain product stock levels by conducting automated inventory counts.

Factors such as protection against fraudulent activities, a surge in RFID technology applications, and real-time data visibility drive the inventory tags market’s growth. RFID tags have gained immense popularity in recent years across multiple sectors, especially retail. In this regard, apparel suppliers are increasingly leveraging big data and digitalization using RFID, enabling efficient tracking and maintenance of stock. Hence, the growing adoption of RFID technology for inventory management accelerates the adoption of inventory tags.

However, security risks associated with these tags, high cost, and lack of skilled labor force hampers the inventory tags market’s development globally.

The Asia-Pacific is deemed to witness the fastest growth over the forecasting years. The region’s robust growth can be attributed to the rising efforts to standardize operations and awareness about the benefits offered by tags. Further, the rise in disposable income, especially in countries like India and China, has elevated the demand for logistics tags in several industries, including e-commerce. Hence, as mentioned above, all these factors contribute to the APAC market’s growth to a large extent.

The well-known firms in the inventory tags market are 3M, Brady Worldwide Inc, Camcode, Alien Technology LLC, Honeywell International Inc, Sato Holdings Corporation, CCL Industries Inc, Johnson Controls Inc, Cenveo, and Zebra Technologies Corporation.

Inventory tags provide organizations with end-to-end visibility of their inventory. The real-time access pertaining to the supply chain streamlines operations as well as reduces surplus expenses. Moreover, the accurate understanding of stock count eliminates over or under-stocking products, an essential element for perishable goods. Hence, these factors influence players to accelerate their positioning in the market by introducing new and advanced tags.