A Quick Response Code or a QR Code is a two-dimensional code is the more advanced version of the commonly used UPC Barcodes that we see everyday on different items at shops, malls etc. QR Codes have the data or the information stored in two-dimensional space, and as the name suggests, provides immediate and more quick response when scanned. QR Codes does not require any special scanner, they can be easily scanned through a smartphone. QR Codes holds a lot more information than the traditional barcodes. They can be printed anywhere like on paper, metal, plastic etc.
The QR code labels market is segmented as: On the basis of label type: Paper QR Code Labels, Plastic QR Code Labels; On the basis of Printing technology – Flexographic printing, Digital printing, Offset printing, Gravure printing , Other printing technologies; On the basis of end-use- Food & Beverage, Pharmaceuticals, Automotive, Military, Chemicals, Electronics & Electricals, Aerospace, Others; By Geography- North America , Europe , Asia Pacific (APAC) , Rest of the World (RoW).
The QR Code labels are small also resistant to general wear and tear. The information printed in the codes cannot be altered or tampered after printing. They hold a lot of data about the product in a compact size. These factors will drive the growth market of QR Code Labels Market.
With the growing industrialization and product manufacturing companies, the need of product tracking and information is getting more essential day by day. These growing and developing industries are creating a thousand of opportunities for the QR Code label markets to grow and prosper. A speedy internet connection and lack of awareness to scan are the major restraints in the market of QR Code Labels Market.
The largest market share held by the Consumer Electronics market. Now a days, all the consumer electronics packaging are coming equipped with QR Code Labels. They contain all the instructions, operating conditions, price, company website etc. thus saving the extra cost of printing manual booklets.
Though North America is showing continuous growth due to the heavily expanding Food & Beverage sector, but, still the APAC market has the lead. Alone China tops the list when it comes in production and usage of QR Code Labels. And then comes the rest developing countries like India, Korea etc. in which every sector is expanding at a great speed.
The major key players are- Lintec Corporation, CCL Industries, Packtica SDN Bhd, Label Logic Inc., Hibiscus PLC, Data Label Co. UK., Advanced Labels NW, Coast Label Company, Label Impressions Inc., Consolidated Label & Co.