Electronic Shelf Label Industry is Forecast to Reach USD 5.2 Billion by 2032 | Fact.MR Report

The global electronic shelf label market is estimated at USD 980 Million in 2022 and is forecast to reach USD 5.2 Billion by 2032, growing with a CAGR of 18.3% from 2022 to 2032.

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Fact.MR- a market research and competitive intelligence provider, foresee a thriving growth in electronic shelf label demand. The global electronic shelf label market is expected to grow at 18.3% CAGR during 2022-2032 and surpass the value of USD 5 Billion by the end of 2032. The global smart retail devices market is expected to be valued at USD 23 Billion by the end of 2022, however electronic shelf label market is likely to reach a valuation of USD 980 Million in 2022.

Key Takeaways of Electronic Shelf Label Market

1. Automation in Retail: The Electronic Shelf Label market is witnessing significant growth due to the increasing automation in the retail industry. ESLs are electronic display devices used to replace traditional paper-based price tags on store shelves. They enable real-time, automated price updates and product information management, streamlining pricing processes and enhancing operational efficiency.

2. Improved Pricing Accuracy and Efficiency: ESLs eliminate manual price tag changes and reduce pricing errors that can occur with paper-based systems. With ESLs, retailers can update prices and promotional information centrally and wirelessly, ensuring consistency across all shelves and minimizing pricing discrepancies. This improves pricing accuracy and reduces time and effort spent on manual price changes.

3. Dynamic Pricing and Promotions: ESLs provide retailers with the flexibility to implement dynamic pricing strategies and run targeted promotions more effectively. With the ability to change prices in real-time, retailers can respond quickly to market conditions, adjust prices based on demand, and run time-limited promotions without the need for manual price tag updates. This enhances the competitiveness of retailers and improves customer engagement.

4. Enhanced Customer Experience: ESLs contribute to an enhanced shopping experience for customers. The electronic displays on shelves can provide additional product information, such as nutritional facts, ingredients, and reviews. ESLs also enable retailers to display dynamic pricing, promotional messages, and personalized offers, improving the overall customer experience and engagement.

5. Operational Efficiency and Cost Savings: ESLs streamline pricing processes and reduce labor costs associated with manual price changes. With automated price updates, retailers can save time, reduce errors, and allocate resources to more value-added tasks.

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Key Companies Profiled:

• Pricer AB
• Altierre Corporation
• SES-imagotag
• DisplayData Ltd.
• Solum Co. Ltd
• Teraoka Seiko Co., Ltd.
• M2Communication Hosting
• Hanshow Technology Co. Ltd
• LG Innotek Co., Ltd
• Diebold Nixdorf
• Opticon Sensors Europe B.V.
• MariElla Group

Key Segments Covered

• By Product Type

o LCD
o E-Ink
o Others

• By Technology

o ZigBee
o BLE
o Wi-Fi
o Others

• By Application

o Supermarket and Hypermarket
o Convenience Store
o Departmental Store
o Specialty Store
o Pharmacies

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Key Questions Covered in the Electronic Shelf Label Market Report:

• What is the projected value of the Electronic Shelf Label factors Industry in 2022?
• At what rate will the global Electronic Shelf Label factors market size grow until 2032?
• Which are the factors hampering the growth of Electronic Shelf Label factors?
• Which region is expected to lead in the global Electronic Shelf Label factors market by 2032?
• Which are the factors driving the Electronic Shelf Label factors Industry during the forecast period?
• What is the expected market value of the Electronic Shelf Label factors market during the forecast period?

Regional Analysis for Electronic Shelf Label Market:

• APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (USA, Canada and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, United Arab Emirates, South Africa)

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This release was published on openPR.