The printed data on paper, fabric, metal plate, polymer or different material for acknowledgment, attached on an automotive component is called an automotive label. The labels utilized in the automotive industry need to withstand severe environmental conditions and they convey information about the producer, dates, safety, and details of the component. The automotive labels market is growing at a consistent pace because of increment in the demand for smart labels, for example, barcodes, QR codes, and RFID identifications so as to distinguish parts, safety information, and information in the automotive manufacturing. Automotive labels can be fitted on vehicles with no extra exceptional apparatus. The labels can be mounted effectively with the assistance of paste or bolts. Information on the labels should be visible and easy to understand, it tends to be composed with white on dark or the other way around. Automotive labels are mounted on the engine, motors, drive trains and chassis. Marks help effectively recognize the parts of the vehicle. These labels can be scrambled by codes, numbers, letter sets, or alphanumeric arrangement.
The global automotive labels market is seeing development because of the critical interest for labels and changing technical dynamics for smart labels and active labels during the forecast period. Increasing demand for radio frequency identification (RFID) labels and high growth in evolving economies are key drivers of the automotive labels market. Demand for eco-friendly label production techniques is also a major factor driving the automotive labels market. Demand for eco-friendly label production techniques is also a major factor driving the automotive labels market. Automotive labels should be made with exactness and high caliber for their durability, as they need to withstand outrageous natural conditions. Rising raw material cost of labels, for example, metals, resins, polymers, and colors, acts as a restraint to the automotive labels market.
The global automotive labels market can be segmented based on type, application, regions vehicle type, and sales channel. Based on type, the automotive label market can be classified into asset label, dome labels, marking labels, cautioning labels, and stock names. For distinguishing proof strategy for labels utilized are a hologram, barcode, RFID. Based on application, the automotive labels market can be isolated into Chassis Labels, Engine Component Labels, Interior Labels, and Exterior Labels.
Based on sales channel, the market can be segmented into OEM and aftermarket. OEMs utilize eye-catching and attractive automotive labels in vehicles to provide information in order to increase brand awareness. Therefore, the OEM segment is likely to expand during the forecast period.
Based on vehicle type, the automotive label market can be split into passenger vehicle and commercial vehicle. The passenger vehicle segment can be further sub-segmented into hatchback, sedan, and SUV/MUV. Increase in demand for passenger vehicles is anticipated to boost the automotive label market during the forecast period. Technological advancements and requirement of information display in commercial vehicles, it is expected to boost the automotive label market during the forecast period.
Based on region, the automotive label market can be bifurcated into Asia Pacific, North America, Latin America, Middle East & Africa, and Europe. Asia Pacific is expected to witness high demand for automotive labels during the forecast period owing to increasing per capita income of the general population and rise in demand for vehicles in the region. Asia Pacific holds a major share of the total global automobile production, which in turn is likely to boost the automotive label market in the region.
Key global players in the automotive labels market include Sika AG, Avery Dennison Corporation, Adhesives Research, Inc., 3M, Grand Rapids Label, Lewis Label Products, Imagetek Labels, H.B. Fuller, ,Identco, Dunmore, Weber Packaging Solutions, Inc., William Frick & Co., UPM Raflatac, CCL Industries, Inc., SATO and tesa SE.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.