Who Are The Major Stakeholders In Electronic Shelf Label Market? | Major Vendors are Altierre Corporation, Displaydata, E Ink Corporation, LG Electronics, Pricer AB, Samsung Electronics
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. The 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 market.
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In the last few years, with changing consumer shopping preferences, retail companies have forced themselves to modify their approach toward business. In line with the changing consumer lifestyles, the onset of market chains such as hypermarkets and supermarkets have become a tall order. Having emerged amidst a supremely competitive e-commerce marketplace, most of the hypermarket and supermarket are deploying ESL systems to attract more consumers. As of now, many hypermarkets and supermarkets are implementing ESL systems in their workflow on a large scale to enhance their business which will have considerable impact on electronic shelf label market size. Some of the instances validating the surging use of digital tags influencing the product demand have been described below.
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
4. E Ink Corporation
5. LG Electronics
6. Opticon World
7. Pricer AB
8. Samsung Electronics
10. Wincor Nixdorf
The benefits offered by these products such as low prices, low power consumption, and flexibility is expected to accelerate the electronic shelf label market. These allow the retailers to remotely change prices and promotional offers in a few minutes across thousands of shelves in several stores simultaneously. Increasing competition among the retailers is encouraging them to adopt to technologically advanced solutions such as ESLs to offer enhanced customer experience.
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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.
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. The electronic shelf label 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.
The advent of new technologies and automated ESL systems have imprinted a considerable influence on the business approach of retail giants and grocers. The development of Near Field Communication (NFC) technology is one of the breakthroughs that has transformed the approach of retailers as well as customers toward shopping. With the help of NFC-enabled electronic shelf labels, retailers can share more data and additional information with the customers who can access that information with the help of their NFC-enabled smartphones. In this regard, the surging adoption of smartphones across the globe will favorably promote the use of NFC technology in electronic shelf label market.
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-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.
The importance of depicting product prices and information has soared considerably in recent times, augmenting electronic shelf label market trends. The technology not only helps retail personnel but also offers ease of shopping to customers pertaining to its capability to manage and control the stock in store. Nowadays, considering the sophisticated use of this technology, retail magnates have been adopting the same on a large scale, given that it has been helping retailers reduce manual errors and inaccuracies. In addition, owing to its excellent reliability, speed, and cost pricing management, the ESL system has become rather popular among numerous industrial and commercial end-users. The increasing popularity of ESL systems for improving pricing accuracy and stock management is thus likely to enhance electronic shelf label industry share.
All-in-all, in order to give rise to strategic business opportunities in this era of e-commerce, most of the retailers have been adopting ESL systems which will propel electronic shelf label industry size. The advent of new wireless technologies and continuous advancement in mobile devices and payment facilities will have a favorable influence on the product demand over the years ahead as well. For the record, in accordance with the growing retailers’ business chain, electronic shelf label market is likely to establish its name in the much-coveted billion-dollar business vertical by the end of 2024.
The key players in the electronic shelf label 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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