Press release content from Business Wire. The AP news staff was not involved in its creation. Global Inventory Tags Market Forecast to 2028 - COVID-19 Impact and Analysis - ResearchAndMarkets.com April 22, 2021 GMT DUBLIN--(BUSINESS WIRE)--Apr 22, 2021-- The global inventory tags market was valued at US$ 4,995.36 million in 2020 and is projected to reach US$ 7,264.42 million by 2028; it is expected to grow at a CAGR of 5.0% during 2021-2028. The US, Canada, and Mexico are among the major economies in North America. High spending power of population enables them to spend on expensive high-tech products that encourages technological advancements, which lead to intense competition among various businesses in this region. North American countries are characterized by well-developed retail and manufacturing sectors and a relatively high density of retailers. The retail sector in North America is a huge adopter of the RFID technology that facilitates data transfer from tags attached to objects, using a wireless scanning system, thereby enabling automatic identification and tracking. Further, according to the International Trade Administration (ITA), there were 19.8 million e-commerce users in Canada in 2018, and the count is estimated to rise up to 5.21 million by 2021. The retail e-commerce sales in Canada were valued at US$ 2.2 million in 2019 and US$ 47.9 million in 2020. Thus, in addition to the growing retail sector, escalation in e-commerce activities is contributing to the inventory tags market in North America.