Press release
Global Electronic Shelf Label Market Size To Grow At A CAGR Of 21.40% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Electronic Shelf Label Market Share, Size, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 21.40%
The electronic shelf label market is growing rapidly due to rising adoption of automation in the retail sectors. Automation facilitates the easy use of electronic shelf labels in supermarkets and hypermarkets, specialty stores, and various other stores. Electronic shelf labels are widely used because they benefit the stores in several ways such as supporting smooth functioning of the stores, eliminating manual labour, improving pricing accuracy, reducing price management labour cost, and lowering operational cost.
The engaging display of the electronic shelf labels allow the businesses to advertise better and also connect to customers in an easier manner. Customers can be informed about any information such as the stock levels or online prices making it convenient for the users. Customers are also able to place and track orders with the help of QR codes using these displays, providing them with enhanced customer experience.
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Replacement of paper with the digital technology is growing rapidly as it is considered as a sustainable option and also reduces the use of raw materials that played an important role in the traditional methods. Rising eco-consciousness among people is further boosting the adoption of digital techniques for displaying shelf labels instead of using of paper, which is ultimately helping the overall electronic shelf label market to grow.
Electronic Shelf Label Industry Definition and Major Segments
An electronic shelf label is an electronic method of displaying the price of various products on the shelves of a store or display. These shelves are capable of automatically updating the price of a particular product when changed and are controlled from a central server. They are typically attached to the front edge of the retail shelving.
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Based on component, the market can be segmented into:
• Displays
• Batteries
• Transceivers
• Microprocessors
• Others
On the basis of product, the market has been classified into:
• Liquid Crystal Displays
• E-Paper
o Graphic E-Paper
o Segment E-Paper
Based on display size, the market can be categorised into:
• Less than 3 Inches
• 3 to 7 Inches
• 7 to 10 Inches
• More than 10 Inches
On the basis of communication technology, the market can be segmented into:
• Radio Frequency
• Infrared
• Near-field Communication
• Others
Based on end use, the market can be categorised into:
• Hypermarkets
• Supermarkets
• Non-food Retail Stores
• Specialty Stores
• Others
On the basis of region, the market can be divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Electronic Shelf Label Market Trends
The key trends in the global electronic shelf label market include the integration of advanced technologies such as cloud computing and Internet of Things in the retail sector which is subjected to improve the working of the electronic shelf label market. A lot of key players are investing and carrying out research activities in order to enhance the product with the help of IoT and cloud computing. Cloud computing helps in sending information to various branches and simultaneously storing and informing employees of necessary changes.
Development of features in the LCD electronic shelf labels such as low light source and near zero power requirements to display information are some major developments increasing their use in the retail stores. They provide comfort to the viewers eyes and also provide better protection in comparison to the traditional LCDs.
Electronic shelf label e-papers are capable of replacing the LCDs as they provide real-time in store display which allows only reliable and secure information to reach the customers. They also direct the customers towards products that are in stock and can be made unique and interesting. All these factors are helping in the rapid growth of the electronic shelf label market.
Key Market Players
The major players in the electronic shelf label market report are
E Ink Holdings Inc.
Pricer AB
Displaydata Limited
troniTAG GmbH
SES-imagotag Group
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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