Smart packaging has come a long way – snack food bags can detect drunk drivers and beer bottles can play music – but more brands are investing in smart labels to connect brands and technology. With the potential to improve logistics, gather supply chain information and engage consumers, smart labels are becoming a top choice for companies in the digital age. In fact, the smart label market is estimated to reach $9.68 billion by 2020, with year-over-year growth of 14.24% since 2014.
Although adoption of smart labels has been slowed by a lack of standards and mechanical susceptibility, brands like Johnny Walker and Hershey’s are leading the charge. The benefits of smart labels in logistics, retail, manufacturing and healthcare, along with growing technological capabilities, are driving demand for the technology.1