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Electronic Shelf Label Market Increasing the Growth Worldwide with Key Industry Players: Pricer AB, E Ink Holdings, SES-imagotag, Store Electronic Systems SA, Displaydata, M2 Communication, LG Corporation, Samsung Electro-Mechanics

10-06-2018 09:38 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Electronic Shelf Label Market

Electronic Shelf Label Market

The electronic shelf label market is expected to witness a significant growth due to the increasing adoption by the retail industry. These components offer benefits such as better price visibility, reduction in pricing errors, and promotional capabilities. These advantages allow users to increase the accountability of the products and increase profit margins. The increasing competition in the retail sector is encouraging players to adopt differentiation strategies such as implementation of automation in the stores to attract the consumers.

LCD ESL market will hold a majority share in the industry due to low cost and high efficiency of LCD displays. These offer advantages such as low power consumption and bi-stable features that aid the industry growth. The full graphic e-paper ESL products are gaining prominence in the industry as these provide support for full graphic imaging and crisp display. Also, these products can work on the communication network that updates pricing in real-time.

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Commercial applications dominated the electronic shelf label market with over 80% of the overall revenue in 2017. The products are witnessing high penetration in the retail facilities, such as supermarket and hypermarket, to sell a wide range of products under one roof. Kaufland Group, a Germany-based hypermarket chain has entered a joint venture with the UK-based Displaydata to provide ESLs in stores, such as Lidl, across the country.

RF-enabled ESL market will witness significant growth due to increasing adoption of radio frequency. Low cost of the technology is encouraging the small retailers to adopt the RF-enabled solutions. Also, RF technology is flexible and allows fast & easy rectification of issues. NFC-enabled electronic shelf label market will grow due to ease of use of these devices with other handheld devices by simply bringing the devices closer. Also, the technology enables communication between labels and tags.

Electronic Shelf Label (ESL) Market size was over USD 450 million in 2017, and is set to exceed USD 1 billion by 2024. The global shipments are set to grow at over 16% CAGR between 2018 and 2024.

Growth Drivers:

• Growing competition among the retailers to provide elevated customer experience
• Government initiatives towards the adoption of technology in North America and Europe
• Adoption of ESL in industrial applications in the U.S.
• Growing penetration of retail automation in North America and Europe
• Growing need for increasing in-store operational efficiency in retail stores in Germany
• Adoption of time and cost-efficient alternatives in retail in Asia Pacific
• Precise product pricing norms in India and China
• Expansion of leading retailers in Asia Pacific and Africa
• Development of organized retail sector in Latin America
• Adoption of advanced technologies in retail sector in the MEA

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Asia Pacific electronic shelf label market will grow at a high rate due to positively changing consumption patterns and economic development of countries including India and China. Development of retail industry in the region due to swelling sales of consumables will positively impact the growth of industry in the region. Also, expansion of business by the international retailers in the region is one of the major factors for the increasing demand of these products. For instance, in August 2018, Swedish furniture giant Ikea expanded its presence by opening a store in India.

High initial investments required to set up these products in stores is one of the major restraining factors in the electronic shelf label market. Small retailers, particularly in Asia Pacific and Africa, cannot afford the high investments required to set up infrastructure for these products. Also, these systems require additional costs such as electricity, internet connection, maintenance of hardware, and software upgrades. Small retailers prefer to employ daily labor as a cost-effective alternative to the ESL products. However, increasing awareness regarding the long-term benefits of these products is changing the perspective of the retailers, encouraging them to adopt these products.

Browse key industry insights spread across 300 pages with 496 market data tables & 23 figures & charts from the report, Electronic Shelf Label (ESL) Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/electronic-shelf-label-esl-market

Some of the key vendors in the electronic shelf label market comprise Pricer AB, E Ink Holdings, SES-imagotag, Store Electronic Systems SA, Displaydata, M2 Communication, LG Corporation, and Samsung Electro-Mechanics Co., Ltd., ESL solutions, Electronic Labelling System Application (ELSA).

Browse Related Reports:

Electronic Document Management System Market By Solution, Deployment Model, Application, 2024

Some vendors in electronic document management system market comprise eFileCabinet, Google, DropBox, Alfresco One, and FileCenter.

https://www.gminsights.com/industry-analysis/electronic-document-management-system-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

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