Global Sensormatic Labels Market is segmented Type (RFID labels, EAS labels, AM Labels, Others), Printing Technology (Flexographic, Digital, Gravure, Others), End-User (Cosmetics, Retail, Logistics, Food & Beverage, Healthcare, Others), By Region (North America, Europe, South America, Asia-Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Market Overview
The Global "Sensormatic Labels Market" is predicted to reach at a high CAGR of 14.92% during the forecast period (2022-2029).
Sensormatic labels are uniquely designed labels majorly used by shop owners to prevent the stealing of goods. The labels are available in AM, ES and RFID technology to secure items of all sizes & shapes and offer efficient deactivation at the time of item purchase. These labels serve retailers to improve store performance by reducing product theft.
Occurrences of misplacements of products, mainly in retail and logistics industries, are serious concerns across the globe.
Each year, retailers and store owners face a notable amount of financial trouble owing to the constant theft of various goods. The sensormatic labels have been gaining importance globally with demand for precise anti-theft protection systems for industrial and retail goods. Sensormatic labels are robustly designed for working efficiently under environmental stresses during shipping.
Market Dynamics
The global sensormatic labels market is expected to drive with growing emphasis on better anti-theft solutions and need for better inventory management in the logistics industry.
Growing emphasis on better anti-theft solutions
The growing emphasis on better anti-theft solutions has led to significant sensormatic labels in the restaurant industry. Security is one of the significant concerns in shops and stores since thefts represent 25% of product losses. As counters are fading due to evolving shopper behavior, retailers & brands are shifting to anti-theft solutions to fit new self-service models in various sectors. The label offers retailers with reliable merchandise protection using innovative technology. The labels are widely used in various sectors, including cosmetics, skin care, pharmaceutical and logistics.
To make the most of the opportunity, retailers are launching new products for protection against theft. For instance, in 2018- Tyco Retail Solutions has launched its new Sensormatic Health, Beauty & Cosmetic Label, providing an anti-theft solution for beauty items, which were difficult to protect or were not protected due to size or shape constraints. The successful trend of moving beauty items from behind the counter and making them convenient for today's shoppers creates new opportunities for theft that the new Sensormatic HBC label is designed to help protect.
Need for better inventory management in the logistics industry
The logistics sector has been expanding at a rapid pace with growing trade networks and expansion and sectors. One of the most common problems faced by the industry is the misplacement of the products due to bulk transportation. The secnarios results in loss of the valuable products and delay in the the transportation. Sensormatic labels can be of great use for the sector to manage the inventory efficiently.
It provides hassle-free operations to supplies as well buyers due to improved protection of the goods. Leading logistics and retail players have started the adoption of these sensormatic labels to ensure and manage a wide range of inventory. These circumstances are anticipated to generate significant demand for sensormatic labels in the market during the forecast period.
High Cost of Labels
The high cost of labels is responsible for restraining the growth of the sensormatic labels market in the forecast period. The sensormatic labels have a comparatively high cost due to the expensive sensormatic label printer. On the other hand, barcodes have been giving competition to sensormatic labels due to their less expensive printing.
Moreover, the sesnormatic labels market has been observing a downfall in terms of demand due to the hampering of the global logistics industry. The logistics industry being the significant consumer of sesnormatic labels has impacted the market growth for the upcoming years. Such scenarios are responsible for restraining the global sensormatic label market growth.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the sensormatic labels industry have seen a notable impact as all the production work, factories and other activities were closed. As a result, production was hindered by halts and supply chain disruption globally. After the pandemic, the governments still impose various restrictions, such as working with half the workforce and fewer operating hours hindering the production cycle of the market. The sensormatic labels have been majorly impacted by the shutting of most stores across the globe. After the relaxation in lockdown norms, the market has been suffering from several restrictions like operating timings and strict norms for entering into stores. Moreover, most consumers have shifted towards e-commerce sites for purchasing goods, which is impacting the market demand.
The downfall in logistics, retail, food& beverages, cosmetics, and other associated industries has directly impacted sensormatic labels growth. However, the market is expected to recover after the pandemic, with sectors aiming to work with higher production rates to recover from the incorporated losses.
Segment Analysis
By type, the sensormatic labels market is broadly classified into RFID labels, ES labels, AM labels and others.
The RFID labels are expected to grow at the fastest CAGR during the forecast period (2021-2028)
The RFID labels are expected to hold the largest market for the sensormatic labels market and are expected to continue their dominance in the forecast period. RFID labels offer end-to-end inventory & item tracking solutions for increased visibility, accuracy and efficiency. RFID gates reduce manual labor and increase the production speed and keep items trackable throughout the supply chain. These siginficant efficiency gains allow major improvements to the supply chain. It also eliminates the necessity of line-of-sight with each separate item barcode.
The companies have been launching new products in the market to satisfy the global demand. For instance, in 2020, Fresenius Kabi announced has launched its smart labels for essential medications used in hospitals. The labels feature embedded radio-frequency identification technology for use in the operating room.
Moreover, in 2020, Checkpoint Systems has launched its new version of the RFID label for enhancing supply chain visibility and loss prevention. The label features new RFID chip options, including the recently launched Impinj M750 chip.
Source: DataM Intelligence Analysis (2021)
Geographical Analysis
North America region holds the largest market for the global sensormatic labels globally
North America region holds the largest market share for the sensormatic labels market globally and is expected to continue its dominance in the forecast period. The growing retail and logistics industries need effective tracking solutions, creating demand for sensormatic labels in the region. The U.S. Grocery Manufacturers Association predicted that 80 % of food & beverage, pet, personal care and household products would feature a smart label by 2020.
The presence of leading sensormatic labels market players in the regions and their recent developments is also boosting market growth significantly. For instance, In 2019- ALL-TAG Corporation has developed a customizable 31×32 mm SuperLabel, a multi-purpose security label for increasing source tagging compliance by allowing Consumer Goods Manufacturers to promote their brand and enhance merchandising.
Moreover, in 2019- Johnson Controls expanded its Sensormatic Solutions portfolio with the unveiling of new Sensormatic Essentials Radio Frequency-based anti-theft solutions. The company now offers retailers to choose from various RF sensors and labels to suit a variety of product categories.
Competitive Landscape
The sensormatic labels market is moderately competitive with the local player’s presence, followed by the global companies, contributing to the major share in the market growth. In addition, some of the key players contributing to the growth of the market are ALL-TAG Corporation, Johnson Controls, Tyco Retail Solutions, Checkpoint Systems, Alt Technologies, Changzhou Yasen Electronic Co., Ltd., Custom Security Industries Inc., Fresenius Kabi, Zebra Technologies Corp., Dragon Guard and others. The major players are adopting various new strategies to dominate the market, such as product launches, expansions, acquisitions and collaborations, contributing to the growth of the Graphene battery market globally.
ALL-TAG Corporation
Overview: ALL-TAG is engaged in source, design and sell reusable plastic EAS tags, detachers and accessories of EAS, AM and RF technology directly to retailers and through dealers worldwide.
Product Portfolio: The Company is engaged in offering a wide range of tags and labels, including high-security retail tags for AM, RF, or RFID, checkpoint & nedap compatible security hard tags, RFID EAS security tags & solutions and sensormatic compatible security hard tags.
Key Development: In 2018, ALL-TAG has launched a new subsidiary in Mexico City, Mexico to expand its market presence in the region.
The global sensormatic labels market report would provide access to an approx: 61 market data table, 57 figures and 180 pages