Shipments of smart labels in logistics will reach more than 30 million units in 2029, according to market watcher Berg Insight.

Shipments of smart labels based on cellular, Sigfox or LoRaWan technology used in logistics worldwide reached 400,000 units in 2024. With a CAGR of 140 per cent, annual shipments of smart labels are projected to reach 31.8 million units by the end of 2029.

The market value is estimated to have reached €11.2m in 2024. This includes revenues generated from the sales of hardware, software and services by smart label providers. The market value is forecasted to have a CAGR of 75 per cent to reach €181.6m in 2029.

Several companies are developing smart labels and a handful of companies have already commercially launched products. The leading providers reached shipments of tens of thousands of units during 2024. In a few years, several providers are projected to reach annual shipments of over a million units each.

Key players providing smart labels based on cellular IoT connectivity include Israel-based Sensos, UK firm Reelables, German companies Box ID and Giesecke+Devrient, Netherlands-based Sodaq, and US-based Moeco, AT&T, Trackonomy Systems, Tag-N-Trac, Roambee and Qualcomm.

Companies providing LoRaWan smart labels include US-based OnAsset Intelligence, Swiss firm Truvami, China-based RAK Wireless and UK-based Trackpac. Japan-based Kyocera and French company Linxens provide smart labels based on Sigfox technology.

“There is no doubt that the market for smart labels using cellular or other WWAN technologies has massive potential and represents a major opportunity for providers, telecom operators and logistics service companies,” said Martin Apelgren, principal analyst at Berg Insight.

All stakeholders in the transport and logistics industry seek to increase visibility and efficiency in the supply chain. Hundreds of billions of parcels and other small items in logistics are shipped annually. While the vast majority of these items will not be economically viable to track using smart labels, the potential market for smart labels is already in the millions of units.

“Smart labels unlock a range of new use cases that traditional cargo tracking cannot address,” said Apelgren.

Download the report brochure at media.berginsight.com/2025/03/13103757/bi-smartlabels1-ps.pdf.