Electronic Shelf Label Market To Rise at 13% CAGR With Global Leading Players - Altierre, Advantech U.S., Dislaydata, CEST Ltd., Opticon, SES-imagotag, Samsung Electro-Mechanics, Wincor Nixdorf,

Electronic Shelf Label Market is projected to surpass USD 1 billion by 2024. 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.

Key players in the ESL market include Altierre, Advantech U.S., Dislaydata, CEST Ltd., Opticon, SES-imagotag, Samsung Electro-Mechanics, Wincor Nixdorf, Teraoka Seiko Co. Ltd., and SoluM. The vendors in the industry compete with each other on the basis of prices, quality, and innovation. These companies are increasingly focusing on expanding their offerings by investing in R&D.

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Increasing availability of automation solutions for the commercial sector has boosted the electronic shelf label market revenue, which surpassed USD 450 million globally in 2017 in conjunction with the growing number of retail outlets. Products such as groceries or seasonal fruits can witness price fluctuations while the stacking of new products also raises difficulties for retail staff to manage and update the pricing tags.

The necessity to save time and energy spent for inventory management at stores with a large number of items has directed businesses towards the electronic shelf label industry. ESLs not only allow for prices of various goods to be set quickly and simultaneously, but also offer accuracy and flexibility. The ever increasing customer base, the rising penchant for spending on consumables worldwide and the need for improving the bottom line of businesses will generate massive gains for the electronic shelf label market from the commercial segment over the coming years.

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.

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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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 electronic shelf label market 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.

Major Key Points from Table of Content:
Chapter 6. ESL Market, By Application (Revenue, Shipments)
6.1. Key trends in ESL market by application
6.2. Industrial
6.2.1. Market estimates and forecast by region, 2013 – 2024
6.3. Commercial
6.3.1. Market estimates and forecast by region, 2013 – 2024
6.3.2. Market estimates and forecast by commercial application, 2013 – 2024
6.3.2.1. Hypermarket
6.3.2.1.1. Market estimates and forecast by region, 2013 – 2024
6.3.2.2. Supermarket
6.3.2.2.1. Market estimates and forecast by region, 2013 – 2024
6.3.2.3. Non-food retail
6.3.2.3.1. Market estimates and forecast by region, 2013 – 2024
6.3.2.4. Others
6.3.2.4.1. Market estimates and forecast by region, 2013 – 2024

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