Progressive Label Purchases Mark Andy Press Progressive Label Manufacturing, Commerce, Cali- fornia, has installed a new Mark Andy Performance Series Press. The company is going green with the new P-5 LED/UV technology. Owner Dave Carr started his packaging and label career more than 26 years ago and has pushed for a low carbon footprint before it became mainstream. Progressive Label Manufacturing plans to continue its tradition of eco-consciousness with the new in- vestment in the Performance Series. “Not only will the UV LED technology allow us to print food-safe labels, but we will be able to cut down on waste by more than 50 percent,” said Carr. Progressive said, as well, that it will be able to print four times faster with the new press. Carr said that Progressive Label has doubled in size in the last three years.This growth, assisted by a Mark Andy 2200, helped them reach the point where they decided to expand and update equipment. According to the research findings from Future Mar- ket Insights’ report, titled Smart Labels Market: Glob- al Industry Analysis and Opportunity Assessment, 2016–2026 , nearly 400,000 thousand units of smart labels sold globally by 2016 were accounted by Radio- Frequency Identification (RFID) technology, which amounted to an estimated $2,493.9 million. Surging demand for RFID tags in the global retail industry have instrumented the boost in sales of smart labels, globally. Furthermore, the advantages of RFID smart labels in maintaining, tracking and updating stock & inventory databases is predicted to continue driving their demand around the globe in the coming years. The global market for smart labels amassed rev- enues worth $4.7 billion by 2016, and is likely to reach $22.6 billion market value by the end of 2026. During the forecast period, the global smart labels market size is anticipated to expand robustly at a Compound Annual Growth Rate of 17 percent. The retail sector is expected to continue to provide growth in global smart labels sales, while warehousing businesses are expected to adopt smart labelling. Flexographic and gravure printing technologies are predicted to dominate the global smart labels market in terms of revenues. Over the forecast period, more than $8 billion in revenues will be accounted by flex- ographic smart labels. Smart Labels Market To Hit $22.6B By 2026
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6 September 3, 2018 Flexo Market News
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