Press release
Electronic Shelf Labels Market Worth USD 1,224.8 million in 2023, and Industry Major Key players - Pricer AB, Store Electronic Systems SA, LG Corporation and Samsung Electro-Mechanics Co., Ltd, Display Data, M2 Communication, and Others
The Electronic Shelf Label (ESL) is an emerging system that is used to display prices and product information on shelves that use wireless communication networks, such as radio frequency (RF) and infrared (IR) technology, to communicate with the main database. These labels help eliminate product price differentials and provide reliable prices for customers. In addition, it helps improve the operational efficiency of the store by eliminating the need to verify and update paper labels. It also allows retailers to update prices as often as necessary and minimizes pricing errors for customers. With the increase of applications in most end-use sectors, from organized stores to specialized stores, from consumer electronics to pharmacies, ESL systems have become a necessity for almost all retail stores.
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Global Electronic Shelf Label Market Size:
The Electronic Shelf Label (ESL) Industry was valued at USD 302.2 million in 2016 and is expected to reach USD 1,224.8 million in 2023, with a CAGR of 23.98% during the forecast period.
Global Electronic Shelf Label Market Drivers and restraints:
More recently, considerable technological progress has been made in the ESL sector. Specialized retailers and specialty stores use ESL systems to display the prices of products on the shelves. Growing demand from retailers for safe, fast and profitable price tagging has increased the demand for these systems. The increasing adoption of retail automation in retail stores around the world is generating demand for ESL systems. This should stimulate the industry during the forecast period. In addition, it is expected that technological advances and strict regulations against the deceptive prices of products will feed the sector in the future. However, it is expected that the lack of knowledge and the high initial investment will slow down the growth of the sector worldwide.
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Global Electronic Shelf Label Market Geographical segmentation:
The Industry in Europe is anticipated to contribute significantly to revenue in the future due to a large base of existing users in the region. The US industry is expected to follow a similar trend between 2018 and 2026. In addition, the industry in Asia Pacific and South America is expected to grow at a solid annual growth rate in the coming years.
Global Electronic Shelf Label Market Key Players:
Some of the leading suppliers of the Electronic Shelf Label Industry like Pricer AB, E Ink Holdings, SES-imagotag, Store Electronic Systems SA, Display Data, M2 Communication, LG Corporation and Samsung Electro-Mechanics Co., Ltd. undertake various strategies, such as Product development, to gain market share. For example, in January 2017, M2 Communications introduced ESL chiller packages to enable cost-effective, reliable and faster rack signage. These products are very effective and practical in retail stores compatible with IoT. In March 2017, the company also launched the most compact ESL solutions, ELSA (Electronic Labeling System Application).
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Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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Research Cosmos is a provider of standard and customized Industry research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending Industry reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
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