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The global inventory tags market was valued at US$ 4,995.36 million in 2020 and is projected to reach US$ 7,264.42 million by 2028; it is expected to grow at a CAGR of 5.0% during 2021-2028.
The US, Canada, and Mexico are among the major economies in North America. High spending power of population enables them to spend on expensive high-tech products that encourages technological advancements, which lead to intense competition among various businesses in this region. North American countries are characterized by well-developed retail and manufacturing sectors and a relatively high density of retailers. The retail sector in North America is a huge adopter of the RFID technology that facilitates data transfer from tags attached to objects, using a wireless scanning system, thereby enabling automatic identification and tracking. Further, according to the International Trade Administration (ITA), there were 19.
Worldwide Inventory Tags Industry to 2028 - Growing Emphasis on Internet of Things Presents Opportunities prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
(MENAFN - Comserve) Shibuya-ku, Tokyo, Japan, Japan, Apr 26, 2021, 04:07 /Comserve / The report analyze market size, share, growth, trends, segmentation, top key players, strategies, demand, statistics, competitive landscape and forecast. The global market for industrial absorbent is expected to grow at a CAGR of more than 3% during the forecast period. Major factor driving the market studied is growing demand from oil & gas industry. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.
Oil & Gas industry is expected to dominate the industrial absorbents market over the forecast period.
Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.