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/EIN News/ -- NEWARK, Del, July 27, 2022 (GLOBE NEWSWIRE) -- The global asset tags market anticipated a market value of US$ 1765.6 Million in 2022 and is expected to register a CAGR of 5.2% accumulating a market value of US$ 2931.2 Million in the forecast period 2022-2032.

The asset tags are widely used as a barcode or serial number that helps in keeping track of the movements of the asset or the product. Technological advancements have led to a never-ending demand for various products that may be required to be transported over long distances or across continents.

Owing to the increase in the logistics industry and the emergence of simpler and easier methods of adding tags due to technological advancements have led to the growth of the market. The market for asset tags registered a CAGR of 3.3% in the historical period 2016-2021.

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Custom Labels, Alpha Signs, Brother International Corporation, Premier Holotech, Labels China, AB&R are some of the key companies profiled in the full version of the report.

Key market players in the asset tags market are focusing on integrating advanced technologies in tags to track products easily. Customer convenience and comfort is the prime objective of the leading players in the asset tags market.

More Insights into the Asset Tags Market

North America region is anticipated to dominate the asset tags market accounting to possess a 23% market share for asset tags in the forecast period 2022-2032, owing to a larger consumer base, combined with a higher number of retail stores than any other region in the world.

North America is estimated to create lucrative opportunities for the asset tags market due to the strong presence of the logistics industry. 5G networks are prospering along with the penetration of e-commerce sales is positively influencing the growth of the market.

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Witnessing accelerated technological advancements in Europe has propelled the growth of asset tags. The wide integration of artificial intelligence, cloud services and the Internet of Things has made asset tags implementation easier and more convenient.

The automotive industry present in Germany is largely contributing to the growth of the asset tags market in Europe. The use of asset tags is increasing in end-user industries present in Spain. Therefore, it is bolstering the demand for asset tags.

A rapid shift to a fast-paced lifestyle ignited by meteoric growth in urbanization all over the world has led every consumer to carry out every task in the minimum possible time frame. Resulting in bolstering the asset tags market.

A significant rise in globalization and E-retail platforms that ensures convenience in purchasing goods from the comfort of your home is creating a need to track the movement of the product through the distribution channel. Resulting in excelling in the asset tags market.

Key Segments Profiled in the Asset Tags Industry Survey

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    1.1. Global Market Outlook

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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