Global Asset Tags Market is anticipated to reach US$XX billion by 2026 from US$XX in 2020, at a CAGR of XX% during the forecast period.
Asset tag refers to a label or sticker that identifies an asset or equipment using a unique serial number. Asset tags are generally made from materials like laminated polyester and anodized aluminum. Major functionalities of the asset tags include equipment tracking, inventory control, theft prevention, and MRO information. The product is used throughout many industries as it eliminates the need for manual data entry and enables accuracy & efficiency.
Asset tags help reduce errors by eliminating the need to manually log asset information, simplify tracking of assets, enable comprehensive tracking of maintenance & downtime, and reduce the costs associated with loss and theft of assets.
The study includes a detailed market assessment. It does so by in-depth qualitative perspectives, historical evidence, and market size verifiable predictions. Using validated research methodologies and assumptions, the predictions featured in the study have been derived. The research report thus serves as an analysis and information for all aspects of the market, including, regional markets, technologies, and by applications.
A rapid shift towards a fast paced lifestyle along with the growing urbanization around the globe is obliging consumers to carry out the tasks in the minimal time period. Asset tags provide convenience to the customers by eliminating the need for standing in long queues to identify the products in retail stores. Moreover, various technological advancements have compelled an ever increasing demand for numerous products that may require to be transported over long distances or across the continents.
Increase in E-retail platforms coupled with globalization ensures convenience in purchasing goods from difference places, creating a need to track the movement of the product throughout the distribution channel. These factors are driving the growth of global asset tags market. Recent innovations like intelligent asset tags will pave the way for several opportunities for the market players. For instance, Raritan's asset management tags provide an accurate, automated, real-time inventory of all IT assets and their locations.
Similarly, Global Asset Tags Market drivers and restraints are covered in the MMR report by region since each region has different market dynamics. Demand drivers and restraints are covered in a separate chapter by keeping the user’s convenience in mind. Drivers are divided by demand-side drivers and supply side.
Based on raw material, global asset tags market is categorized into plastic asset tags and metal asset tags. Plastic asset tags segment dominate the global market in 2020 with the market share of US$ XX Mn. Several benefits offered by the material like lightweight, low cost, waterproof, and ease of access are driving the demand for plastic asset tags across the globe.
Global Asset Tags Market
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Global Asset Tags Market1
North America led the global asset tags market in 2020 with the share of XX% owing to a mature consumer base and market in the region. Moreover, higher number of retail stores compared with any other region is also responsible for the North America Market growth. Asia Pacific region is estimated to register the highest CAGR of XX%, due to a larger consumer base coupled with the rapidly increasing retail stores in the region. Presence of larger number of emerging economies like India and China is further boosting the market growth. Europe is estimated follow North America in terms of market revenue.
The objective of the report is to present a comprehensive analysis of the Global Asset Tags Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Asset Tags Market dynamics, structure by analyzing the market segments and project the Global Asset Tags Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Asset Tags Market make the report investor’s guide.
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Global Asset Tags Market 2
Global Asset Tags Market Segmentation by Region
• North America:
• South America
o Rest of South America
o CIS countries
o Rest of Europe
o South Korea
o Rest of APAC
• Middle East & Africa
o GCC Countries
o South Africa
o Rest of MEA
• Latin America
o Rest of Latin America
Global Asset Tags Market Major Players
• Custom Labels
• Alpha Signs
• Brother International Corporation
• Premier Holotech
• Labels China
• Brady Corporation
• Molex, LLC
• MPI Label Systems
• Seagull Scientific
• RMS Omega
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