A smart label is an extremely flat item identification slip that is more informative than a barcode. Smart labels include QR codes, Electronic Article Surveillance (EAS) tags and specially configured RFID tags. The smart labels are created by combining three technologies: plain text, radio code and optical character recognition. Smart labels are divided into chip labels, printable labels and electronic label due to their different applications. However, the use of smart labels has evolved and can be used to recognize stale food in the refrigerator. Due to the instant access to the information, several industries have adopted smart labels, especially in food and beverages market. Thus, the smart labels market has seen an exponential growth. Moreover, according to Allied Market Research (alliedmarketresearch.com/smart-labels-market), the smart labels market is estimated to register 16.6 percent between 2017–2023.
IoT is not restricted to silicon-based sensors; it includes those sensors also that are found in the tracking data on medical devices, airplane engines, and other internet-connected devices. The silicon-based sensors cannot be used for cost-sensitive items or in bendable packaging. To overcome these limitations, ThinFilm (thinfilmnfc.com) offered a solution of printable electronics. It developed a technology that can be printed on smart labels at an extremely low cost compared to silicon-based sensors. Moreover, the technology can be attached to a variety of packages that are hard to track in real time. Smart labels technology is recently emerged technology and is limited to the amount of memory it can hold. For now, it fulfills the requirement of tracking objects remotely, effectively, and most importantly at an affordable price.