QR code labels are security labels that have several applications across the globe. QR code labels are a useful option when there isn’t enough area on a label to print a lot of information. When it comes to authenticating online payments, QR code stickers provide exceptional security.
For these reasons, the worldwide QR code labels market is expected to grow rapidly in the coming years, causing an increase in labelling machines in the industry.
Furthermore, in the forecast period of 2020 to 2026, the usage of QR code labels in different industries, such as manufacturing, is likely to affect the worldwide growth of the QR code labels market. In addition, the ability of QR codes to convey vast volumes of data is a major driver propelling the worldwide QR code labels market forward throughout the forecast period.
QR Codes Leading the Shift in Market
According to Future Market Insights (FMI) analysis, the rise in product counterfeiting, as well as the necessity for brand and consumer protection, will likely lead to a further move away from traditional barcode labels and toward QR codes labelling.
It emphasises that smartphone-scannable QR code labels are a simple approach to connect the goods and the customer for nearly-effortless authentication.
Uses of QR Codes in Various Markets
Product identification and traceability are especially vital for medication. More importantly, since the modification to the FMD (Foot and Mouth Disease) took effect in 2019, this, too, might contribute to a future trend toward QR codes in pharmaceutical labelling.
QR codes are useful for inventory management, traceability, mobile payment, and marketing and promotions, in addition to security and authentication applications. Because they can store text, URLs, web pages, and contact information, their great data storage capacity is anticipated to fuel future expansion. This opens up a world of possibilities for QR code labelling across various industries.
QR codes are also a fantastic choice for work in progress (WIP) labelling, logistics and delivery labelling, and inventory management. Their increased dependability reduces mistake rates and improves speed and operational efficiency.
High Storage Capacity
Because of its large storage capacity, the market for QR code labels is expected to rise. QR code labels can store up to 7,809 numeric characters or 2,953 alphanumeric characters with spaces. In comparison to traditional barcodes, which have a storage capacity of 20 numeric characters, QR code labels offer a substantially larger storage capacity. QR code labels may also fit more information into a smaller space.
Better than Barcode labels
Unlike traditional barcode labels, it is easier to scan from any angle. Anti-counterfeiting labels, such as QR code labels, safeguard ownership of creative property. Counterfeiting impacts various businesses, including food and beverage, automotive, and pharmaceuticals.
Manufacturers of QR code labels are now producing a variety of waterproof labels specifically built for use in several settings. Labels with barcodes and QR codes have become one of the most popular ways to engage with customers and identify and track items.