The global tags market size is poised to exceed a valuation of US$ 11,530.8 million in 2023. It is anticipated to attain a valuation of US$ 19,510.4 million by 2033. The market is slated to develop at a CAGR of 5.4% from 2023 to 2033.
Tags, also known as metadata or labels, are descriptive keywords or phrases assigned to digital content. They serve as markers that provide context, aid in classification, and enhance the discoverability of information. The tags market refers to the ecosystem that revolves around the creation, management, and utilization of tags across diverse industries and platforms.
The demand for tags has substantially expanded due to the growth of e-commerce and online shopping. The importance of labeling and tagging items for shipping, inventory control, and order fulfillment grows as more firms turn to online platforms. Products are identified by tags, which also offer pertinent information and guarantee efficient logistics and delivery procedures. The demand for tags has increased as e-commerce has grown, particularly for shipping labels, barcodes, and tracking labels.
Custom printing of bar codes help consumer to track products as per the information in accordance with their needs. Quality of printing on tags provide a more aesthetic look to attract customers towards the product.
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Tags Market Landscape
- Dortex Werbung und Vertrieb mbH,
- Zebra Technologies Corp.,
- Honeywell International,
- Sato Holdings Corp.,
- Finotex USA Corp.,
- CCL Industries Inc.,
- Pacific Coast Bach Label Inc.,
- NXP Semiconductors, Confidex Ltd.,
- GAO RFID Inc.,
- HID Global Corp.
are also the noticeable players in the tags market. The Tier 3 players in the market hold 65-70% in the global tags market. In conclusion, key players contribute almost 30-35% of the global market.
Loop, RIFD tags on food & beverage, electronics & electrical, and clothing & apparel provide an extensive edge towards brand promotion. Moreover, easy accessibility of ease in printing technology will provide impressive opportunities for design and manufacture of tags over forecast period.
FMI has forecast that the demand and sales of tags will be definite and in increasing order. Factors such as increase middle class family income, increase in millennial generation’s e-commerce expenses, convenience factor coupled with advance tracking processes will exponentially increase the tags sales globally.
Key Takeaways from Tags Market:
- The global tags industry size expanded at a CAGR of 3.8% from 2018 to 2022.
- In 2018, the global market size stood at US$ 9,408.6 million.
- The global market size stood at US$ 10,940.1 million in 2022.
- In 2022, the RFID tag type segment captured 56.1% shares in the global market.
- In 2022, the plastic segment under material type, captured 42.8% shares in the global market.
- In 2022, the United States garnered 16.2% shares in the global market.
- In 2022, China captured 6.1% shares in the global market.
“The usage of RFID tags is increasing rapidly across the globe. Their application especially in consumer electronics has created abundant opportunities for tags manufacturers. Increasing emphasis on ease in logistical and inventory management is anticipated to redefine the tags market growth” says FMI analyst.
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Increase in Demand for RFID Tags to Increase Sales in Market
In the last decade, usage of RFID tags has drastically increased in the consumer electronics segment. They have been proven quite useful & handy when it comes to logistical management.
RFID tags are a type of tracking system which uses radio frequency to track, search, communicate and track with items or people. RFID tags are known as smart labels, as they easily store a ton of varied range of information like a short description, serial numbers or even pages of data.
Due to usage of low, high & ultra-high radio frequencies in market to identify shoplifters and other risks to different merchandise which in turns uplifts the revenue generation.
Nowadays, usage of RIFD tags have seen an increase in end use industries such as clothing & apparel and cosmetics. This trend is exponentially increase the demand for RFID tags which helps in asset management. This will result an increase in the demand of RFID tags over the forecast period.
Tags Market By Category
By Material Type, Tags Market is segmented as:
- Plastic
- Paper
- Fibers
- Others (Metal, etc.)
By Tag Type, Tags Market is segmented as:
- RFID Tag
- Hang/ Swing Tag
- Loop Tag
By End Use, Tags Market is segmented as:
- Food & Beverage
- Clothing & Apparels
- Hospitality & Travel
- Beauty & Personal Care
- Consumer Electronics
- Others
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