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Global Electronic Shelf Label Market Report 2019| Regional Analysis & Growth Forecast To 2024
Electronic Shelf Label Market
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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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.
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 market. 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 industry from the commercial segment over the coming years.
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 market.
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.
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Key players in the Electronic Shelf Label 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. for instance, in January 2017, Displaydata launched Aura29F ESLs for the freezers in grocery stores. These products offer the benefit of operability under very low temperatures. To sustain the fierce competition, small players in the industry are entering consolidations with the large manufacturers.
Glimpse of Table of Content (ToC)
Chapter 5. Electronic Shelf Label Market, By Technology (Revenue, Shipments)
5.1. Key trends in ESL market by technology
5.2. RF
5.2.1. Market estimates and forecast by region, 2013 – 2024
5.3. IR
5.3.1. Market estimates and forecast by region, 2013 – 2024
5.4. NFC
5.4.1. Market estimates and forecast by region, 2013 – 2024
5.5. Others
5.5.1. Market estimates and forecast by region, 2013 – 2024
Chapter 6. Electronic Shelf Label 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
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/electronic-shelf-label-esl-market
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