The quick response (qr) code labels global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Quick Response (QR) Code Labels Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The quick response (QR) code labels market size has grown rapidly in recent years. It will grow from $1.33 billion in 2023 to $1.48 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to inventory management efficiency, enhanced marketing capabilities, increased smartphone adoption, demand for quick information access, and advancements in mobile payment systems.
The quick response (QR) code labels market size is expected to see rapid growth in the next few years. It will grow to $2.25 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to growing e-commerce, advancements in augmented reality, increased digital payment adoption, enhanced contactless interaction demands, and rising use in healthcare for information dissemination. Major trends in the forecast period include integration with internet of things, personalized marketing campaigns, expanded use in digital menus, enhanced security features, and widespread adoption in smart packaging.
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Scope Of Quick Response (QR) Code Labels Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Quick Response (QR) Code Labels Market Overview
Market Drivers –
The rising demand for online payments is expected to propel the growth of the quick response (QR) code labels market going forward. Online payments are transactions made over the Internet to transfer funds from a buyer to a seller for goods or services. The demand for online payments has increased due to convenience, speed, improved internet access, mobile device proliferation, and enhanced security measures. Quick response (QR) code labels simplify and expedite online payments by enabling quick, contactless smartphone transactions, enhancing user convenience and security. For instance, in August 2022, according to UK Finance, a UK-based trade association, in the UK, the volume of contactless payments surged by 36% in 2021 compared to 2020, reaching a total of 13.1 billion payments. Contactless transactions constituted nearly one-third (32%) of all payments during the year. Therefore, the rising demand for online payments is driving the growth of the quick response (QR) code labels market
Market Trends –
Major companies operating in the quick response (QR) code label market are focused on developing advanced technological solutions such as zap vision technology to enhance product traceability and security. Zap vision technology is a QR code label designed for rapid response and interaction, improving accessibility and user engagement. For instance, in November 2023, Bayer Plc, a UK-based life science company, and Zappar, a UK-based augmented reality application developer, launched Accessible QR codes (AQR). It is the world’s first Accessible QR code (AQR) on its Canescool Soothing Gel Cream product packaging. This innovation aims to improve access to product information for individuals who are blind or partially sighted. The AQR code is optimized for users with sight loss and can be detected by popular accessibility apps such as Envision, Microsoft SeeingAI, and Zapvision’s reference app.
The quick response (QR) code labels market covered in this report is segmented –
1) By Label Type: Sleeve Labels, Glue Applied Labels, Pressure Sensitive Labels, Other Label Types
2) By Material Type: Paper, Plastic, Polyethylene Terephthalate, Poly Vinyl Chloride, Vinyl
3) By Printing Technology: Flexographic, Digital Printing, Offset Lithography, Gravure Printing, Other Printing Technologies
4) By End Use: Food And Beverage, Pharmaceuticals, Personal Care And Cosmetics, Automotive, Homecare And Toiletries, Chemicals, Industrial, Other End Uses
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Regional Insights –
North America was the largest region in the quick response (QR) code labels market in 2023. The regions covered in the quick response (QR) code labels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the quick response (QR) code labels market are Brother Industries Ltd, Zebra Technologies LLC, CCL Industries Inc., Brady PLC, Cognex Corporation, Bizerba USA Inc, Epson America Inc, HERMA Gmbh, Avery Products Corp, AstroNova Inc, MPI Label Systems, Online Labels LLC, Consolidated Label Co, Citizen Systems Co Ltd, SATO Holdings Corporation, Denso Wave Incorporated, Afinia Label, Holo Security Technologies Pvt Ltd, Coast Label Co, Label Express, Hibiscus Plc, Crown Labels Mfg Co Ltd.
Table of Contents
1. Executive Summary
2. Quick Response (QR) Code Labels Market characterstics
3. Quick Response (QR) Code Labels Market Trends And Strategies
4. Quick Response (QR) Code Labels Market – Macro Economic Scenario
5. Global Quick Response (QR) Code Labels Market Size And Growth
…..
32. Global Quick Response (QR) Code Labels Market Competitive Benchmarking
33. Global Quick Response (QR) Code Labels Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Quick Response (QR) Code Labels Market
35. Quick Response (QR) Code Labels Market Future Outlook and Potential Analysis
36. Appendix
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