QR code labels have a wide range of applications and features. They are used for marketing campaigns, product packaging, and ticketing in events. With quick and easy scanning using smartphones, they provide access to websites, product details, and contact information. QR codes can store various data types such as URLs, text, and even multimedia. Their versatility, cost-effectiveness, and ease of implementation make them valuable tools for businesses to enhance customer engagement, track assets, and streamline information exchange across industries.
According to Data Bridge Market Research, the Global Quick Response (QR) Code Label Market is expected to reach USD 2,291.90 million by 2029. The market is expected to grow with a CAGR of 9.75% in the forecast period of 2022 to 2029.
“Increasing use of QR code labels boosts the market’s growth”
The increasing use of QR code labels across various verticals is a significant driver of the QR code label market's growth. QR codes provide a convenient and versatile means of accessing information through smartphone. They find applications in retail, healthcare, logistics, advertising, and more, enhancing customer engagement and streamlining processes. The demand for contactless interactions and the need for efficient data tracking contribute to the rising adoption of QR code labels, fueling market expansion across different industries.
What restraints the growth of the global quick response (QR) code label market?
“Increasing prevalence of fraudulent activities restraints the market’s growth”
The increasing prevalence of fraudulent activities in the QR code label market poses a significant restraint on its growth. Cybercriminals exploit QR codes to redirect unsuspecting users to malicious websites or launch phishing attacks. As fraudulent incidents rise, consumer trust in QR codes may erode, resulting in reduced adoption and usage. This growing concern over security risks hinders businesses from fully embracing QR code technology for fear of compromising user data and privacy.
Segmentation: Global Quick Response (QR) Code Label Market
The global quick response (QR) code label market is segmented on the basis of label type, material type, printing technologies, and end-use.
- On the basis of label type, the quick response (QR) code label market is segmented into sleeve labels, glue-applied labels, pressure-sensitive labels, and other labels.
- On the basis of material type, the quick response code (QR) label market is segmented into paper, plastic, polyethylene terephthalate, poly vinyl chloride, and vinyl.
- On the basis of printing technology, the quick response (QR) code label market is segmented into flexographic, digital printing, offset lithography, gravure printing, and other printing technologies.
- On the basis of end-use segment, the quick response (QR) code label market is segmented into food and beverage, pharmaceuticals, personal care and cosmetics, automotive, homecare and toiletries, chemicals, industrial, and others.
Regional Insights: North America dominates the Global Quick Response (QR) Code Label Market
North America dominates the quick response (QR) code label market due to its large population and the increasing demand for QR codes in various applications. The widespread adoption of QR codes in this region is driven by their convenience and versatility, making them a popular choice for businesses and consumers alike.
Asia-Pacific is expected to have the highest growth rate due to its easy access to low-cost labor and resources, which benefits manufacturing and production. Additionally, favorable government policies supporting digital technologies and promoting business development have created a conducive environment for the adoption and expansion of QR code applications.
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The Prominent Key Players Operating in the Global Quick Response (QR) Code Label Market Include:
- Holo Security Technologies (Malaysia)
- MPI Label Systems (U.S.)
- Bizerba USA Inc. (U.S.)
- HERMA (Germany)
- Brady Worldwide, Inc. (U.S.)
- Multi-Color Corporation (U.S.)
- Fastroll Labels (M) Sdn. Bhd. (Malaysia)
- PPG Industries UK Ltd (U.K.)
- Afinia Label (U.S.)
- Avery Products Corporation (U.S.)
- Consolidated Label Co (U.S.)
- Coast Label Company (U.S.)
- Advanced Labels NW (U.S.)
- DATA LABEL (U.K.)
- Hibiscus Plc (U.K.)
- Label Logic (U.S.)
- Packtica Sdn Bhd. (Malaysia)
- CCL Industries (Canada)
- LINTEC Corporation (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of global quick response (QR) code label market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Quick Response (QR) Code Label Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
