Global Smart Label Market Size and Share Analysis 2023-2028

Market Overview

The smart label market, as defined in this study, encompasses the revenues generated by various technologies such as electronic article surveillance (EAS), RFID, sensing labels, NFC, and electronic shelf labels (ESL) across different industries worldwide. The analysis also takes into account the impact of the COVID-19 pandemic on this ecosystem. Additionally, qualitative coverage of widely adopted strategies and an analysis of key indicators in emerging markets are included.

According to the study, the Smart Label Market is estimated to be valued at USD 13.47 billion in 2023, with a projected growth to reach USD 28.71 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 16.34% during the forecast period (2023-2028).

Product Type

Market Research



Release Date

March 2023

Base Year


Forecast Period


Market Size

USD 11.5 billion in 2021

Market Segments

Technology, End User, Region



No. of Companies Mentioned


Smart labels are increasingly gaining popularity in the retail, healthcare, and logistics sectors. They are seen as an effective means to improve operational efficiency and profitability while ensuring product authenticity and traceability throughout the supply chain, from warehouse to distribution center.

The COVID-19 pandemic has brought about behavioral changes, leading to increased demand for safe and traceable food on e-commerce platforms. Public awareness of health and safety has also risen significantly. A study by IBM revealed that 71% of consumers are willing to pay an average premium of 37% for companies that provide full transparency and traceability. However, the food supply chain faces challenges due to its complexity and fragmentation, with 70% of companies experiencing visibility gaps between initial suppliers and internal systems.

Smart labels serve as tools for enabling smart supply chains and play a crucial role in marketing and advertising consumer products. They provide product information and facilitate the analysis of consumer buying patterns through the collection of data. Manufacturers have actively adopted these solutions to gain a first-mover advantage in their respective industries, driven by the need to reduce costs across the supply chain and achieve greater efficiency.

Furthermore, the expansion of e-commerce, driven by increasing consumer spending and rapid internet penetration, directly influences the demand for smart labels. E-commerce relies on these labels for product tracking and tracing. Leading smart label manufacturers have responded to this trend by launching advanced label solutions tailored specifically for the e-commerce sector.

The ability of smart labels to withstand harsh shipping conditions and exposure to sunlight is crucial due to the nature of the solvents used in printing. These labels must endure challenging circumstances during transportation, storage, and usage, as they can be damaged by sunlight, chemicals, dirt, or moisture.

Market Segmentation

The market is segmented based on various factors, including technology, end user, and region.

Segmentation by Technology
Electronic Article Surveillance (EAS)
Sensing Label
Electronic Shelf Label (ESL)

Segmentation by End User
Healthcare and Pharmaceutical
Other End-user Industries

Segmentation by Region
North America – United States and Canada
Europe – United Kingdom, Germany, France, and Rest of Europe
Asia-Pacific – China, Japan, India, South Korea, and Rest of Asia-Pacific
Latin America
Middle East and Africa

In 2022, the RFID segment dominated the market with a share of 62.99%, and it is projected to have the highest Compound Annual Growth Rate (CAGR) of 17.42% from 2023 to 2028. The development of smart labels is an innovative application of RFID technology, consisting of two main components: the reader and the label. The smart label integrates an RFID system and a graphical user interface (GUI). The automotive, pharmaceutical, and healthcare industries are the key end-user sectors that exhibit exceptional growth potential for RFID technology and smart labeling. RFID technology significantly reduces labor costs in warehouses, which account for a substantial portion of total distribution center expenses. It also allows processes requiring a large workforce to be completed with fewer employees. The primary uses of RFID technology and smart labels include supply chain tracking, tracking parts in manufacturing, asset tracing, security, and cashless payment systems. In the healthcare industry, RFID is widely used on patient wristbands for secure identification and access control. Many distribution centers and warehouses are investing in improving process efficiency, which is expected to drive the growth of RFID-based smart labels.

The retail industry held the largest market share of 30.66% in 2022, while the healthcare and pharmaceutical segment is anticipated to have the highest CAGR of 18.50% from 2023 to 2028. Smart labels are increasingly popular in the retail sector for tracking and identifying merchandise. These labels utilize RFID or other technologies to track products throughout the supply chain and within stores. Smart labels offer real-time information on inventory levels and locations, enabling more efficient inventory management. Retailers can easily update product information and ensure accurate pricing and marketing. NFC labels, for example, can enhance the customer shopping experience and increase efficiency in various ways, such as electronic shelf labeling systems (ESL). By leveraging NFC technology embedded in digital price tags, retailers can change product information and pricing in real-time, reducing errors and saving time and resources. Companies in the market are continuously developing new solutions to meet customer demands. For instance, Oli-Tec introduced smart labels with temperature and time-sensitive indicators, providing retailers and consumers with clear visual cues for product freshness.

The North American region accounted for the largest market share of 33.56% in 2022, while the Asia-Pacific region is expected to have the highest CAGR of 17.92% from 2023 to 2028. The United States plays a significant role in the North American market due to its abundance of retail stores, including industry giants like Walmart. Walmart has implemented electronic identification tags on clothing items to improve inventory control. Smart labels are also utilized by food companies to provide nutritional information and reduce food waste. Regulatory initiatives, such as the framework agreement by the USDA and FDA for labeling cell-based meats, further contribute to market growth. In addition, blockchain technology is increasingly integrated with smart labels to enhance supply chain traceability. Employee theft and organized retail crime have driven the development of RFID-based smart labels to track garments and textiles. Canada’s printing industry has embraced digital advancements, enhancing operational efficiency and product quality. Smart labels are being adopted to promote transparency and meet higher consumer expectations in terms of product information.

Competitive Landscape

The smart label market exhibits fragmentation, with the notable presence of key players including Avery Dennison Corporation, CCL Industries Inc., William Frick & Company, Honeywell International Inc., and Invengo Information Technology Co. Ltd. These market participants are implementing strategies such as partnerships, agreements, and acquisitions to augment their product offerings and achieve a sustainable competitive advantage.

Key Companies Profiled in this report include Avery Dennison Corporation, CCL Industries Inc., William Frick & Company, Honeywell International Inc., Invengo Information Technology Co. Ltd., Scanbuy Inc., Sato Holdings Corp., Alien Technology, Zebra Technologies Corp.

Recent Industry Developments

In March 2023, the Premier League and Avery Dennison collaborated on the development of a new font, marking only the fourth makeover in Premier League history. The newly designed font offers improved visibility and makes a significant impact both on and off the pitch. This is achieved by increasing the height of the numbers and incorporating the Premier League’s distinct graphic design elements. The updated numbers, names, and sleeve badges will become available in the spring season, coinciding with the release of each Premier League club’s 2023-24 season shirt.

In February 2023, Danavation Technologies Corp., a technology provider specializing in tiny e-paper displays and headquartered in North America, announced that the company had secured contracts for four additional installations of new digital smart labels. This follows their successful deployment of digital smart labels in ten retail locations across Canada and the United States since the beginning of 2023.

Key Questions Answered

What is the duration of the study period for this market?
What is the rate of growth for the Smart Label Market?
What is the size of the Smart Label Market?
Which region exhibits the highest growth rate in the Smart Label Market?
Which region holds the largest share in the Smart Label Market?
Who are the key players in the Smart Label Market?

Original price was: USD 4,750.Current price is: USD 2,850.

Want to customize this report? Our industry specialist will collaborate with you to deliver tailored data within a limited timeframe.
Scroll to Top

Request Free Sample Report

Global Smart Label Market Size and Share Analysis 2023-2028

Please fill out our form and we will get back to you.


Global Smart Label Market Size and Share Analysis 2023-2028

Please fill out our form and we will get back to you.