Rising Digitalization and Automation Propels Electronic Shelf Label Industry Growth

The global electronic shelf label industry is projected to rise in the coming years, due to rapid digitalization and automation in the retail industry with substantial profits, and less time consumption. Along with this, real-time product positioning, rising demand for increased functional efficiency, and price optimization in retail stores proliferate industry growth.

Under the product type segment, the industry is divided into full-graphic E-paper, liquid crystal display (LCD), and segmented E-paper. Among these, the full-graphic E-paper captures the largest industry share, and it is projected to experience the fastest growth in the near future. It is led by the high energy efficiency of full-graphic E-paper ELSs and their capability to project graphical objects.

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Under the communication technology segment, the industry is categorized into radio frequency, NFC, infrared, and others. The NFC technology is projected to experience the fastest growth in the near future, due to contactless, and fast data transfer between the device, and thus it encourages the manufacturers to provide this technology in their products.

NFC technology has emerged as an additional feature in numerous smartphones and point of sale (POS) devices. The rising integration of the NFC in the handheld devices such as smartphones enabling faster transactions at the point-of-sale results in increased demand for NFC-enabled ELSs.

The electronic shelf label industry based in Europe is projected to experience the fasted growth in the coming future, led by the penetration of the key players and expansion of the retail sector in the region. The expensive labor cost in European countries propels the industry growth, led by the surging electronic label adoption that improves the retailers' return by reducing human intervention.

North America captures the largest share of the industry, owing to the rising demand for technology among the expansive retail store chains, including Wal-Mart, in the region. Moreover, the favorable government initiatives that encourage automation products integration, and increase technological development in the retail industry are projected to retain their dominance in the industry in the near future.

Retailers are taking initiatives to improve the consumer shopping experience. The increasing problems in the management of large warehouses and retail stores are projected to fuel the smart automation demand in the retail sector. The integration of the ELS systems offers precise and flexible store operations.

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The centralized control facilitates easy updates, time-saving, and reliability. Therefore, numerous retailers are adopting ESL systems to stay on the competitive end, thus fueling industry growth.

The ELS manufacturing companies are developing new and innovative products to cater to the worldwide rising demand for them. The NFC technology integration with ELSs facilitates retailers to update the information, including price, discounts, special offers, and other product details.

The major players operating in the industry are Pricer AB, Samsung Electro-Mechanics Co. Ltd., E Ink Holdings Inc, Altierre Corporation, CLEARink Displays Inc., Diebold Nixdorf Incorporated, and Displaydata Limited.

Therefore, the rising adoption of the electronic shelf label is led by the ease of convenience it provides retailers in updating the information, and managing the retail store operations, as well as large warehouses.

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This release was published on openPR.