RFID segment to dominate the South America Inventory Tags Market during 2020–2028

According to a new market research study on “South America Inventory Tags Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Label Type, Printing Technology, and End-user,” is expected to reach US$ 592.05 million by 2028 from US$ 376.55 million in 2021. The market is estimated to grow at a CAGR of 6.7% from 2021 to 2028. The report provides trends prevailing in the South America inventory tags market along with the drivers and restraints pertaining to the market growth. Elevating emphasis on internet of things (IoT), extending potential for inventory tag technology in automotive sector, and thriving counterfeiting activities are the major factor driving the growth of the South America inventory tags market. However, broadening security concerns related to inventory tag technology hinders the growth of South America inventory tags market.

In the South America, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries such as Colombia, Argentina, and Peru. The governments of various countries in South America are taking several initiatives to protect people and control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to have a direct impact on the region’s economic growth as the region will face lower export revenues, both from the drop in commodity prices and reduction in export volumes. The sharp decline in the sales of the retail and e-commerce industry in the region due to lockdown measures is expected to directly impact the growth of the inventory tags market. In addition to this, the online as well as retail distribution channels will also face a negative impact due to supply chain disruptions. The sharp decline in business activities and product sales are expected to directly affect the growth rate of the market till mid-2021.

The South America inventory tags market is segmented on the basis of technology, label type, printing technology, end-user and country. Based on technology, the market is segmented into RFID, barcodes, and others. In 2020, RFID segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on label type, the market is segmented into plastics, paper, metal, and others. In 2020, plastics segment held the largest share in the market, and it is also expected to be the fastest growing segment during the forecast period. Based on printing technology, the market is segmented into offset printing, digital printing, flexography printing, gravure printing, and others. In 2020, offset printing segment held the largest share in the market, and digital printing is expected to be the fastest growing segment during the forecast period. Based on end-user, the market is segmented into retail, transportation and logistics, industrial, and others. In 2020, industrial segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Brazil, Argentina, and Rest of SAM. In 2020, Brazil held the largest share in the market, and Rest of SAM is expected to be the fastest growing country during the forecast period.

3M; Alien Technology, LLC; Brady Worldwide, Inc.; CCL Industries Inc.; Johnson Controls, Inc.; Zebra Technologies Corporation; SATO Holdings Corporation; Honeywell International Inc.; and Camcode are among the leading companies in the South America inventory tags market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Alien Technology, LLC introduced new Higgs-9, a next generation High-Memory RFID Tag which provides a base 96-bit EPC field and 688-bit User Memory field allowing superior write accuracy, memory retention and read reliability.

South America Inventory Tags Market, By Country, 2020 and 2028 (%)

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