Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Smart Tag Packaging Overview
Smart Tag Packaging is also known intelligent packaging, interactive packaging or active packaging. A smart tag has an advantage of having the wide range of application over traditional bar codes. Smart tag is to draw the attention of consumers or provide authentication or additional information on the product; Smart packaging brings many benefits to consumer whether, it is product description, MRP, bar code and expiry date.
Market Size and Forecast
The global smart tag packaging market is expected to showcase a significant CAGR of 4.6% during the forecasted period 2018-2027. Smart tag plays an important role in supply chain management by enabling the manufacturers and suppliers to keep track of logistics and optimally maintain the inventory level. The global smart tag packaging market is segmented into type, verticals and geography. In terms of regional platform, Europe region is believed to dominate the global smart tag packaging market aided by Western Europe countries such as U.K., France, Netherland and others.
Additionally, the United States is amidst the major countries augmenting the demand for smart tag packaging on account of rising prevalence of advancement in technology in the the consumer good industry. In terms of growth rate, Asia Pacific region is expected to witness the fastest growth with a CAGR of 6.9%. Asia Pacific accounted for the third largest market of smart tag packaging in terms of revenue in 2017. Moreover, the major countries witnessing the splurging demand for smart tag packaging include Japan and China.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis segmented the global smart tag packaging market in the following segments:
By Type
By End-User
By Region
Global smart tag packaging market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Online transaction is expected to increase while positively influencing the smart tag packaging market. Changing consumer lifestyle and increasing installation of modern retail outlets have boosted the growth in smart tag packaging market. Further, Smart packaging can change the way retailers, brand owners and consumers interact with products by communicating, engaging customers, managing inventory systems and much more. Rising consumer awareness about the packaging of consumer goods and electronic goods is anticipated to positively impact the growth of smart tag packaging market.Contrariwise, high cost of smart packaging tag is expected to hamper the growth of smart packaging tag market. Further, lack of standards and unawareness about the product is restraining the growth of the market.
Key players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global smart tag packaging market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
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