It is completely visible that the trends of labelling market is mushrooming at a greater speed backed by IT Support and digital marketing. Different types of software are being used to enable the key trends of labelling that primarily focus upon giving momentum to the concept of digitalisation. In this current year, advanced level of technologies are being employed and used in case of corporate flourishment and techno savvy revolution giving a fine touch to label and printing industry. Different sets of concepts are being used and focused upon to attract the customers and legally encash their data and information in order to interpret their behaviour of buying.
For an instances, respective Government bodies are arranging and propagating LabelExpo with an intention to accumulate large scale players and commemorate them in the area of digital printing and taking it to newer heights – updating it as per the requirement in different countries. Day by day they are crossing boarders and achieving milestones by multiplying various technique of scanning like – RFID scanning, Augmented Reality, Sensing Label and Electronic Shelf Label and many more that facilitates in quick scanning and accumulation of vistas of data.
Scaling of Business Opportunities with labelling market
It is purely transparent that the labelling industries is about to bring large scale business opportunities – coded with data and information ensuring justification to the customers. For example, the concept of scan and pay is subject to fast forward payments that captures the data and transfer the amount directly within few seconds. One of the prominent company – Xerox Corporation are using labelling and printing. This concept is considered as their key offerings with inkjet printing process. With the same concept, they have been mushrooming their wings in few major segments like – Europe, America and Australia strongly supporting the concept of digital printing and scanning.
The propagation of Smart label Market
The market opportunity towards smart label is expected CAGR of 13.7%, over the forecast period of 2019 -2024. Thus, it has become one of the most brimming concept that acts as a support system for retail, health care and FMCG sector. Like, smart technologies have been used for transporting and dispatching goods from one nation to other. One of the leading company like FedEx are providing smart delivery services within said time by employing smart labelling technique. This advance technology quickly scan the product and send to the nearest port, record the data and deliver it to the right customer without facing any turmoil during the process.
In the same field, smart labels are being prominently used in case of vertical integration and backward integration that are equally supported by big Data and Internet of Things as 4.0 revolutionary measure. With such speedy acceleration in the technological sector, every minute detail can be stored, retrieved and reused in order to determine the buying behaviour of an individual and overall footfalls of a customer in a particular period of time. These technologies like IoT and Machine Learning are used to identify and interpret the basic psychology and psychographic segmentation behind the product or service purchased.
As a result, there is a growing need of vendor inventory management and pallet tracking especially in retail industry that scans the data based on the sticker or label adhered to the apparel. Volume tracking data is being coded inside the label which helps to identify the no. of times a product is being picked and left in the shelf.
Thus, 2020 will bring a eureka moment in printing and labelling market exposing to the product provision. Stay tuned for more information.