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The time-temperature indicator is an innovative device that
gathers real-time data of time and temperature. These systems are very popular
among large enterprises and companies that find it difficult to keep track of
various aspects of their operations. Indicator Label is also a very useful tool
for monitoring inventory inventories of products and services. These labels
have proven to be very useful for measuring the overall production efficiency
and have provided excellent and quick feedback to the product or service owner.
This kind of technical report has been very beneficial in improving
productivity levels and customer satisfaction. Time-temperature indicators are
crucial in detecting product degradation, which could be caused due to external
and internal effects by providing alert notifications. These notifications are
provided in real-time to ensure high quality of products.
Growing emphasis on smart pharmaceutical packaging is expected to
drive growth of the global time
temperature indicator labels market during the forecast period.
Pharmaceutical products are highly sensitive to temperature and sunlight and
thus require proper handling and care. Inappropriate handling and packaging can
lead to severe losses for the pharmaceutical companies. As a matter of fact, in
certain cases, it can be hazardous for the life of consumers. Smart medical
packaging or smart pharmaceutical packaging is comprised of information
tracking as well as product verification. It also includes verification of
levels of temperature that is being maintained throughout the supply chain.
Thus, these factors are expected to drive growth of the global time temperature
indicator labels market during the forecast period. Furthermore, rising trade
activities to import and export perishable items are expected to boost the
global time temperature indicator labels market growth over the forecast
period.
However, a lack of consumer awareness and the advent of advanced
technologies such as temperature monitoring devices is expected to hinder the
global time temperature indicator labels market growth over the forecast
period. Besides, Asia Pacific is expected to witness the highest CAGR in the
global time temperature indicator labels market in the near future. This is
owing to the rapid growth of the e-commerce industry in emerging economies such
as India and China. According to the India Brand Equity Foundation (IBEF), the
Indian e-commerce market is expected to reach US$ 64 billion by 2020,
increasing from US$ 38.5 billion in 2017.
Key companies operating in the global time temperature labels
market are CCL Industries Inc., 3M Company, LCR Hallcrest LLC, Temptime
Corporation, Thin Film Electronics ASA, NiGK Corporation, American Thermal
Instruments, and DeltaTrak Inc.
For instance, in July 2020, CCL Industries Inc. acquired InTouch
Label and Packaging Co. Inc., a U.S-based digital label converter.
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