Electronic Shelf Label Market Size, Share, Growth, Trends, Applications, and Industry Strategies

A number of factors, such as the soaring need for increased functional efficiency with real-time product positioning, accelerating automation and digitalization, and burgeoning demand for price optimization in the retail sector will steer the electronic shelf label (ESL) market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated $800 million revenue in 2020. Additionally, the lower time consumption and higher profits allowed by ESLs will catalyze the market growth in the forthcoming years.

Get the Free Sample Pages: https://www.psmarketresearch.com/market-analysis/electronic-shelf-label-market/report-sample

One of the key growth drivers for the market is the rising automation rate in the retail industry owing to the increasing focus of retailers on enhancing the customer shopping experience. The surging requirement for smart automation solutions here can be attributed to the growing complexities in managing large retail stores and warehouses. ESL systems deliver flexibility and precision in store and warehouse operations, as they offer easy updates, time-saving, and reliability.

In recent years, the rising integration of near-field communication (NFC) technology in such systems has become a major trend in the electronic shelf label market, as it helps retailers in efficient stock management and price optimization. NFC-technology-based ESLs enable retailers to update product information, such as price, discounts, and special offers, by using smartphones and point-of-sale devices. This technology, therefore, allows for contactless and quick data transfer between devices, owing to which ESL manufacturers are focusing on the production of NFC-enabled devices.

Make Enquiry Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=electronic-shelf-label-market

Globally, the North American electronic shelf label market generated the highest revenue in 2020 due to the booming demand for the ESL technology among the expansive chains of retail stores across the region. Moreover, the rising number of favorable government initiatives to support technological development and increasing adoption of automated products in retail stores will facilitate the market growth. Besides, the escalating demand for full-graphic e-paper displays and the mounting focus of retail giants on consumer-centric practices will drive the demand for ESLs in the continent.

Whereas, the European electronic shelf label market is expected to showcase the fastest growth during the forecast period. This will be on account of the presence of prominent market players and extensive growth in the retail industry. Additionally, the high labor cost in European countries is encouraging the adoption of ESLs in retail stores and warehouses as their incorporation increases the return for retailers by minimizing manual intervention.

Thus, the escalating automation rate across the retail sector and surging adoption of NFC-based ESLs will facilitate the market growth worldwide.

About Us:
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact Us:
P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.