Press release
Global Electronic Shelf Label Market Is Growing With A CAGR Of 18.3% From 2022 To 2032
The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
However, with the relaxations in the government regulations and an expedited vaccination drive in countries like China, the U.S., the UK, and India, the Electronic Shelf Label Market industry is slowly picking up its pace. The manufacturers are preparing to reopen their production sites, abiding by the government regulations.
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Key Segments Covered
By Product Type
LCD
E-Ink
Others
By Technology
ZigBee
BLE
Wi-Fi
Others
By Application
Supermarket and Hypermarket
Convenience Store
Departmental Store
Specialty Store
Pharmacies
Energy Consumption in the US is Leading to High Adoption of Electronic Shelf Label Market Systems
The US accounts for the largest share in the construction industry. The pandemic has halted many construction-related activities, which in turn has impacted the growth of the Electronic Shelf Label Market industry negatively.
However, the development in the Electronic Shelf Label Market industry is rising at a steady pace with the resumption of the construction industry. The ever-growing energy consumption in the country is also generating demand for more energy-efficient Electronic Shelf Label Market systems in the region.
Prominent players in the Electronic Shelf Label Market industry such as Honeywell Int., and new entrants such as Apple and Google NEST are also focusing on residential construction projects to bring more innovation and comfort to the residents. Such new strategies are helping the Electronic Shelf Label Market industry gradually recover from the blow of the pandemic.
Competitive Landscape
Fact.MR has profiled the following key electronic shelf label manufacturers in its report are Clearink Display, Diebold Nixdorf Incorporation, Display Data Ltd, E Ink Holdings Inc, Hanshow Technology Co. Ltd, M2Communication, NCR Corporation, Panasonic Connect Europe GmbH, Pricer AB, SES-imagotag, Solum Co. Ltd., and Teraoka Seiko Co. Ltd and TroniTag GmBH.
The manufacturers in the electronic shelf label market are progressively fluctuating their focus towards strengthening distribution channel and working out active marketing strategies.
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Technological Advancements are Leading Innovations in the Electronic Shelf Label Market in China
China is gradually recovering from the adverse effect of the pandemic due to its successful efforts in curbing the spread of the virus within the region. With almost negligible restrictions, the construction, heavy machinery, and automotive industry have started resuming operations.
Rising expenditure in technology and increasing emphasis on environmental safety are propelling the demand in the Electronic Shelf Label Market industry in China. The growing interest in billboard automation and industrial displays in allowing manufacturers to gradually attain their pre-pandemic status.
India is Experiencing High Adoption of Electronic Shelf Label Market Systems
The Indian Electronic Shelf Label Market industry witnessed a downfall due to the pandemic. In order to follow the safety guideline, many construction sites and manufacturing units were shut until further notice.
With the relaxation of these restrictions, the manufactures operating in the automation, engineering, and construction (AEC) industry managed to gather pace in recovery. However, the second wave of the pandemic hit the Electronic Shelf Label Market industry negatively, affecting the overall growth of the industry.
Being a fast-growing economy, global leaders are finding lucrative opportunities in the country, both in commercial and residential spaces, as the demand for multi-modal building automation is surging.
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Key Long-Term Trends
The global Electronic Shelf Label Market industry is showing notable recovery in 2021 and will continue to offer opportunities for expansion to the players operating in the market. With the penetration of building automation in residential areas, the Electronic Shelf Label Market industry will show an upward trend. Some new trends that are boosting the growth in the market are:
Internet of Things (IoT)
The Internet of Things (IoT) and the Industrial Internet of Things (IIoT) are experiencing broader acceptance in the Electronic Shelf Label Market industry. The innovative technology which makes everything 'inter-connected is gaining immense popularity in both residential and commercial projects, making them technologically advanced and effective in risk management.
Edge Computing
As the number of residents increases, the data also becomes vaster. Hence, edge computing will act as a key technology in the Electronic Shelf Label Market industry. Edge computing enables data security, easy accessibility, and enhanced automation in commercial and residential buildings.
For More Insights-https://www.globenewswire.com/news-release/2022/03/09/2400432/0/en/Low-Code-Development-Industry-is-Projected-to-Achieve-a-Global-Market-Size-of-US-187-Bn-by-2032-Currently-US-Accounts-For-the-Largest-Market-Share-in-the-World.html
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