Introduction to the Global Tag Ties Market

Tag ties are smart solutions used to secure goods in transit across the supply chain. Tag ties are preferred due to the high assurance of product safety during transit. The global tag ties market is in for revolutionary changes as most of the key manufacturers are integrated to smart ad intelligent packaging technologies with their products. Therefore, it is anticipated that smart tag ties will account for a significant share of the total market in the years to come. Key players operating in the global tag ties market are focusing on production of robust alternatives to non-smart tag ties. Introduction of RFID-enabled tag ties is expected to be one of the key developments that have the potential to intensity market competition. RFID tag ties are not new to the market, however, there has been a general lack of fully integrated tag ties in the market. This is one of the demerits that some key players are looking to remove with their advanced offerings. The most modern in the product offerings – RFID-enabled tag ties, are one of the ideal solutions for inventory and asset control of critical equipment. The outlook for growth of the global tag ties market is expected to be positive during the forecast period.

Global Tag Ties Market: Dynamics

The global tag ties market is expected to be driven by growth in smart and intelligent packaging technologies across the globe. One of the key technologies expected to influence the market is RFID. Variants compatible with NFC technology are also known to be under development. The preference for tag ties is expected to increase over time as companies push for tamper evident packaging solutions. In addition, the advent of smart and intelligent packaging solutions will bring about a revolution in the way companies manage their assets across the supply chain. Tag ties are used for a wide range of applications. In addition to logistics and warehouse management, tag ties are also used for asset management, animals tracking, food hygiene control, as container seals, and for postal parcels, among others. The outlook for growth of the global tag ties market is positive as it will advance on the growth of evolution of Internet of Things (IoT)

Tag Ties Market: Regional Outlook

The Asia Pacific tag ties market is expected to spearhead growth of the market. This is attributed to the increase in trade volumes mainly driven by countries in the region such as China and India. Governments in both of these countries have introduced growth planes which aim to double the trade volume by 2025. This is expected to create significant demand for efficient tracking solutions like tag ties in the market. The North America and Europe tag ties market is expected to be driven by the sheer volume of trade in these regions. In additions, growth in number of automated warehouses and distribution centers is expected to drive demand for tag ties in these regions.

Tag Ties Market: Segmentation

The defined scope for the Tag Ties market is as below –

By material, the global tag ties market is segmented as –

  • Polyamide (PA)
  • Nylon
  • Acrylonitrile butadiene styrene (ABS)

By application, the global tag ties market is segmented as –

  • Logistics management
  • Food hygiene control
  • Postal parcel
  • Asset tracking
  • Storage bins/ container seals
  • Animal tracking

Tag Ties Market: Key Trends

It has been observed that manufacturers operating in the global tag ties market are more inclined towards integrating their products with IoT solutions.

  • For instance, Smartrac N.V. recently introduced their RFID cable tag ties to enhance asset tagging efficiency for their end users across the supply chain

In addition, manufacturers of tag ties are also in the process of integrating Near Field Communication (NFC) technology with their products to optimize performance.

Tag Ties Market: Manufacturers

Some of the manufacturers operating in the global tag ties market are as follows –

  • Demi Qian Fujian Heroncore Smart Technology Co., Ltd.
  • Smartrac N.V.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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
  • Europe
  • 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.

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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.

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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.

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