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Global Electronic Shelf Label (ESL) Market 2019-2024 Outlook By Top Key Players; Advantech U.S., Inc, Altierre Corporation, Displaydata, E Ink Corporation, LG Electronics, Opticon World, Pricer AB, Samsung Electronics, SES-imagotag, Wincor Nixdorf

02-18-2019 07:26 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Electronic Shelf Label (ESL) Market

Electronic Shelf Label (ESL) Market

Global Electronic Shelf Label (ESL) Market is set to grow from its current market value of more than $450 million to over $1 billion by 2024; according to a new research report by Global Market Insights, Inc. The continuously growing retail sector in addition to the increasing security concerns regarding theft is propelling the electronic shelf label market growth. The retailers are adopting these components for asset and merchandise tracking as these products offer benefits such as real-time tracking, re-programmability, and simultaneous identification.

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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.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Advantech U.S., Inc
2. Altierre Corporation
3. Displaydata
4. E Ink Corporation
5. LG Electronics
6. Opticon World
7. Pricer AB
8. Samsung Electronics
9. SES-imagotag
10. Wincor Nixdorf

Electronic Shelf Label (ESL) Market will see tremendous demand from big supermarket and hypermarket companies for eliminating manual errors in updating prices, freeing up the staff’s time to increase productivity and to implement strategic pricing decisions. Groceries from a major part of everyday spending by billions of people around the globe, and supermarket chains undergo daily shelf rotation of essential items. In 2017, it was found that there were a total of 38,581 supermarkets in the U.S., indicating the growth potential for the electronic shelf label industry. According to a key ESL manufacturer, replacing paper labels with the electronic ones could experience cost savings of up to 60%, while adopting a more responsive pricing method and creating a modern brand image.

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LCD electronic shelf label 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.

Asia Pacific electronic shelf label (ESL) market is expected to reach over USD 340 million, due to the rapidly expanding retail sector in the region. Foreign players, such as Walmart and Seven-Eleven, are expanding their businesses in the region, particularly in the countries including Japan and India. These players are bringing technologically-advanced products, such as electronic shelf labels, in the region to gain a competitive edge over the local players and attract customers.

Japan electronic shelf label (ESL) market is expected to grow significantly due to the adoption of advanced technologies, such as IoT and checkout-free stores, in the retail sector in the country. The retail sector in Japan is highly competitive and fragmented in nature with many small retail chains and very few dominant retail brands. The retailers are adopting these solutions to make frequent changes in the prices of products allowing the retailers to add promotional offers to attract customers.

To satisfy the increasing requirements of the retailers, the manufacturers are developing advanced products. For instance, in January 2018, Japan Display, Inc. announced that the company has developed 30-cm wide high-resolution electronic shelf labels equipped with e-paper technology.

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:

(RF) radio frequency-enabled electronic shelf label (ESL) market will grow significantly to reach the revenue share of over 35% by 2024 due to the increasing adoption of the technology for communication across different technology platforms such as IoT. The technology is cost-effective as it does not requir e additional high-cost infrastructure. It is also immune to blockages and does not require additional security, thus propelling the electronic shelf label market.

RF-enabled electronic shelf label (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.

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.

The key players in the electronic shelf label (ESL) market include Advantech U.S., Altierre, CEST Ltd., Displaydata, E Ink Corp, Herbert Ltd., LG Innotek, M2COMM, Mirador Marketing, Opticon, Pricer AB, Samsung Electro-Mechanics, SES-imagotag, SoluM, Teraoka Seiko Co., Ltd., and Wincor Nixdorf.

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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

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