Inventory Tags Market in North America report 2028 | Size, Share, Growth by Business Market Insights

The inventory tags market in North America is expected to grow from US$ 1,421.22 million in 2021 to US$ 1,655.56 million by 2028; it is estimated to grow at a CAGR of 2.2% from 2021 to 2028.

Counterfeiting of products is a huge concern, which impacts all the verticals across the region. As stated by the International Chamber of Commerce, counterfeiting has been growing significantly over the past few years and has resulted in illegal trading of goods worth ~US$ 917 billion a year. The growing cases of counterfeiting products result in loss of revenue and pose considerable threat to consumer health and safety, as well as harm foreign direct investment prospects. The retail and consumer electronics industries are the major targets of piracy, thereby negatively impacting various retail and pharmaceutical firms. Some of the instance, Reebok and Adidas have filed the trademark suit in federal court against ~50 online sellers for selling, promoting, and providing for sale and distributing substantial quantities of footwear. This lawsuit comes during the attention to the mounting counterfeit-centric posts on social media platforms. Both the sports giants seek US$ 2 million from each of the defendants for every counterfeit trademark used. The stringent laws pertaining to counterfeiting activities, the requirement for efficient use of the supply chain, and the availability of cost-efficient counterfeiting technologies have compelled various companies to opt for inventory tags. With this technology, one can determine its location, identify an individual item, and review its chain of custody. Collecting this data makes it easier to handle the supply chain and identify counterfeits.

North America is one of the most important regions for the adoption and growth of new technologies due to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the region's economic growth negatively. The US is one of the prominent markets for inventory tags due to the growing retail and e-commerce, and healthcare sectors. The huge increase in the number of confirmed cases and rising reported deaths has affected these industries. The factory and business shutdowns across the US, Canada, and Mexico impact the adoption of the inventory tags. The retail sector has faced considerable shifts, consumer spending on groceries continue to increase. RFID technology is also highly used in the healthcare industry to track their assets. To combat the virus, the region has started shipping vaccines and PPE kits within the region where RFID technology has made a comeback to track and authenticate test kits, PPE, and vaccines. Thus, this also leads to slight growth in the market. COVID-19 has had a severe impact on transportation and automotive, and trade activity. North America is home to many manufacturing and technology companies. Thus, the coronavirus outbreak's impact was quite severe in 2020 and likely in 2021. The impact of COVID-19 is short-term; it is likely to decrease in the coming years.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America inventory tags market. The North America inventory tags market is expected to grow at a good CAGR during the forecast period.

North America Inventory Tags Market Revenue and Forecast to 2028 (US$ Million)

North America Inventory Tags Market Segmentation

North America Inventory Tags Market – By
Technology

RFID
Barcodes
Others

North America Inventory Tags Market – By Label Type

Plastics
Paper
Metal
Others

North America Inventory Tags Market – By Printing Technology

Offset Printing
Digital Printing
Flexography Printing
Gravure Printing
Others

North America Inventory Tags Market – By End-user

Retail
Transportation and Logistics
Industrial
Others

North America Inventory Tags Market – By
Country

US
Canada
Mexico

North America Inventory Tags Strategic Insights

Strategic insights for the North America Inventory Tags provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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North America Inventory Tags Report Scope

Report Attribute	Details
Market size in 2021	US$ 1,421.22 Million
Market Size by 2028	US$ 1,655.56 Million
Global CAGR (2021 - 2028)	2.2%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Technology Barcodes RFID By Label Type Plastics Paper Metal By Printing Technology Digital Printing Flexography Printing Gravure Printing Offset Printing By End-user Retail Transportation and Logistics Industrial
Regions and Countries Covered	North America US Canada Mexico
Market leaders and key company profiles	3M Alien Technology, LLC Brady Worldwide, Inc. CCL Industries Inc. Johnson Controls, Inc. Zebra Technologies Corporation SATO Holdings Corporation Honeywell International Inc. Camcode Cenveo Corporation

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North America Inventory Tags Regional Insights

The geographic scope of the North America Inventory Tags refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.