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Electronic Shelf Label Market Size & Share Report 2031 Analysis by Key Players - Advantech, Altierre, Displaydata, Herbert Retail, M2COMM

06-07-2024 01:48 PM CET | IT, New Media & Software

Press release from: SNS Insider

Electronic Shelf Label Market Size and Share Report

Electronic Shelf Label Market Size and Share Report

Market Size & Growth Analysis

The Electronic Shelf Label (ESL) market, valued at USD 1.6 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031, reaching USD 4.40 billion by 2031. This robust expansion is driven by several factors, including the increasing demand for automation and digitalization in the retail sector, which enhances inventory management and pricing accuracy. Additionally, the rising adoption of IoT technologies and smart retail solutions, coupled with the need for operational efficiency and cost reduction, are propelling market growth. Furthermore, the growing trend of dynamic pricing and real-time data access in retail environments is fueling the adoption of ESL systems, providing retailers with a competitive edge and improved customer experience.

- Advantech Inc
- Altierre Corporation
- Displaydata Limited
- E Ink Holdings Inc
- Herbert Retail Limited
- Opticon Sensors Europe B.V
- Diebold Nixdorf Incorporated
- Teraoka Seiko Co Ltd
- SoluM
- SES-imagotag
- Samsung Electronics Co. Ltd

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Emerging Trends and Growth Opportunities

-Automation in Retail: The push towards automation in retail to improve efficiency and customer experience is boosting the adoption of ESL systems. Automated price updates and real-time inventory management are key benefits driving this trend.
-E-Ink Technology: The use of E-Ink technology in ESLs is becoming more prevalent due to its low power consumption, high visibility, and better contrast. This trend is particularly important for applications where battery life and readability are critical.
-Integration with IoT: Integration of ESLs with the Internet of Things (IoT) allows for enhanced functionality, such as real-time stock monitoring, customer behavior analytics, and dynamic pricing strategies.
-Sustainability and Cost Efficiency: ESLs contribute to sustainability efforts by reducing paper usage and operational costs associated with manual price tagging. This is increasingly important for retailers aiming to adopt green practices.
-Growth in E-Commerce: As e-commerce influences in-store retail experiences, ESLs offer a way to bridge online and offline pricing strategies, ensuring consistency and improving customer trust.

Impact of Recession

-Cost Reduction: ESLs help retailers reduce labor costs and errors associated with manual price changes, which can be particularly appealing during economic downturns.
-Operational Efficiency: Enhancing operational efficiency becomes critical during recessions, driving retailers to invest in technologies like ESLs that offer long-term savings and efficiency improvements.
-Investment in Technology: Despite budget cuts, many retailers may continue to invest in technology to stay competitive and improve operational resilience.

Impact of Russia-Ukraine War

-Supply Chain Disruptions: Geopolitical tensions can disrupt global supply chains, affecting the availability of electronic components and materials needed for ESL manufacturing, potentially leading to supply shortages and increased costs.
-Energy Market Volatility: The war has contributed to volatility in energy markets, impacting operational costs for manufacturing and logistics associated with ESL deployment.
-Regional Market Shifts: Geopolitical tensions may shift trade dynamics and influence market growth in specific regions, potentially creating both challenges and opportunities for market players.

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Key Regional Developments

-North America: The region leads in the adoption of ESL technology, driven by significant investments in retail technology and strong presence of major retail chains. The U.S. and Canada are major contributors, with extensive adoption in hypermarkets and supermarkets.
-Europe: Europe is witnessing significant growth due to robust retail infrastructure, advancements in retail technology, and increasing adoption of automation solutions. Countries like Germany, the UK, and France are key markets for ESLs.
-Asia-Pacific: The region is experiencing rapid adoption of ESLs, driven by increasing urbanization, rising investments in retail and technology infrastructure, and growing demand for efficient retail management solutions. -China, Japan, and South Korea are prominent markets in the region.
-Middle East & Africa: The market in this region is expanding, supported by investments in modern retail formats, infrastructure development, and the adoption of advanced technologies to enhance operational efficiency and customer experience.

Key Reasons to Purchase Electronic Shelf Label Market Report

-Comprehensive Market Insights: Gain detailed insights into market trends, technological advancements, and competitive landscape to make informed business decisions.
-Strategic Planning: Understand market drivers and challenges to develop effective strategies for product development, marketing, and expansion.
-Competitive Analysis: Analyze key players, their market positioning, and strategies to gain a competitive edge.
-Future Outlook: Access forecasts and future market scenarios to aid in long-term planning and investment decisions.
-Regional Analysis: Evaluate regional market dynamics to identify lucrative opportunities and tailor strategies to specific geographical areas.
-Impact Assessment: Understand the effects of global events, such as economic recessions and geopolitical conflicts, to better manage risks and adapt strategies accordingly.

In conclusion, the ESL market presents significant growth opportunities driven by technological advancements, increasing demand for retail automation, and the expansion of applications across various industries. Despite challenges posed by economic uncertainties and geopolitical tensions, the market is expected to witness sustained growth, particularly in key regions such as North America, Europe, and Asia-Pacific. Investing in a comprehensive market report can provide valuable insights to capitalize on these opportunities and navigate the evolving landscape effectively.

Table of Content - Analysis of Key Points

Chapter 1. Executive Summary
Chapter 2. Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Electronic Shelf Label Market Impact Analysis
Chapter 5. Value Chain Analysis
Chapter 6. Porter's 5 forces model
Chapter 7. PEST Analysis
Chapter 8. Electronic Shelf Label Global Market, by Type
Chapter 9. Electronic Shelf Label Global Market, by Technology
Chapter 10. Electronic Shelf Label Global Market, by Application Type
Chapter 11. Electronic Shelf Label Global Market, by Display Size
Chapter 12. Regional Outlook
Chapter 13. Competitive Intelligence
Chapter 14. Key Companies Analysis
Chapter 15. Research Process

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Akash Anand
Head of Business Development & Strategy
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

About Us:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.

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