Electronic Shelf Label Market Estimated to Experience a Hike in Growth By 2031

The global electronic shelf label market is expected to grow at a lucrative rate owing to the surge in demand for business process optimization and automation in the retail sector across the globe. Allied Market Research, titled, "Electronic Shelf Label Market," The electronic shelf label market was valued at $825.06 million in 2021, and is estimated to reach $3.5 billion by 2031, growing at a CAGR of 15.5% from 2022 to 2031.

Get a PDF brochure for Industrial Insights and Business Intelligence @ https://www.alliedmarketresearch.com/request-sample/5905

Electronic shelf label (ESL) is a type of dynamic display system used by retailers to display product information in retail stores. This system transmits product information that is updated in the central server using low-power radio frequency (RF) through the gateway. Shelf label is an emerging technology globally, which can help to remove paper labels and automatically change the price tag every week.

In addition, it also removes inconsistencies between cash and shelf resister prices and enables flexibility to make immediate price changes. Furthermore, each electronic shelf label (ESL) system has an LCD or E-ink display that shows the price and UPC of the products. These labels eliminate discrepancies in the selling price of products and display reliable pricing to customers. ESL system has a wide range of applications in various stores such as hypermarkets, supermarkets, non-food retail stores, and specialty stores.

According to the electronic shelf label market analysis, trending automation in the retail industry is the key factor that drives the electronic shelf label market growth of the electronic shelf label industry. Moreover, the necessity for a more cost-efficient and less time-consuming alternative to paper labels and the surge in demand for digital price tags fuels the market growth. In addition, an increase in operational efficiency with real-time product positioning, owing to the utilization of electronic shelf labels boosts the market growth.

Get Customized Reports with your Requirements: https://www.alliedmarketresearch.com/request-for-customization/5905

However, high installation and infrastructure costs restrain the growth of the electronic shelf label market size. Moreover, low return on investments is also expected to impede the growth of the electronic shelf-label market. Furthermore, the deployment of electronic shelf labels in retail stores allows retailers to update prices on the shelves instantaneously. It also helps them run real-time promotions involving comparison shopping, promotional prices, and promotional information. These features of electronic shelf labels help retailers gain an edge in the competitive retail market, increase sales, and reduce operational costs of the store.

The major companies profiled in the report include E Ink Holdings Inc., Diebold Nixdorf, Incorporated, Samsung Electro-Mechanics, Pricer AB, Displaydata Limited, Panasonic Corporation, NCR Corporation, M2Communication, SES-imagotag, CLEARink Displays Inc. and SoluM Co. Ltd.

KEY FINDINGS OF THE STUDY

- In 2021, the LCD segment was the major revenue contributor to the electronic shelf label industry and is projected to grow at a notable CAGR of 14.55% during the forecast period.
- The displays and microprocessors segments together accounted for around 51.3% of the electronic shelf label market trends in 2021.
- The specialty stores segment is projected to grow at a CAGR of 17.26% during the forecast period.
- Europe contributed for the major electronic shelf label market share, accounting for more than 32.2% share in 2021.

Key players profiled in the report include E Ink Holdings Inc., Diebold Nixdorf, Incorporated, Samsung Electro-Mechanics, Pricer AB, Displaydata Limited, Panasonic Corporation, NCR Corporation, M2Communication, SES-imagotag, CLEARink Displays Inc. and SoluM Co. Ltd. Market players have adopted various strategies, such as product launch, collaboration& partnership, joint venture, and acquisition to expand their foothold in the electronic shelf label market.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/5905

About Us:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

Contact Us:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Access the Full Report @ https://www.alliedmarketresearch.com/electronic-shelf-label-market

This release was published on openPR.