Jersey City, N.J., July 28, 2020
- The factors contributing to the fastest-growing region is the rapid urbanization, the rise of Industry 4, ongoing technological innovations, and development of retail automation sector
Jersey City, N.J., July 28, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Electronic Shelf Label Market by Product Type (CD ESLS and E-PAPER ESLS), by Store Type (Hypermarket, Supermarket, Specialty Store, Non-Food Retail Store, and Others), by Geography Scope". According to Verified Market Research, the Global Electronic Shelf Label Market was valued at USD 0.70 billion in 2019 and is projected to reach USD 3.15 billion by 2027, growing at a CAGR of 22.4% from 2020 to 2027.
This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.
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Browse in-depth TOC on "Electronic Shelf Label Market"
202 - Pages
126 – Tables
37 – Figures
Global Electronic Shelf Label Market Overview
With the advent of technology and the adoption of automation in the retail industry has turned out to be increasingly beneficial for retailers. The growth of this industry is due to the reduction of manual operations to increase operational efficiency. This benefit has led to the widespread adoption of electronic shelf label solutions across the retail industry. Furthermore, trending retail automation is also driving the adoption of electronic shelf labels across all types of retail stores such as hypermarkets, specialty stores, and supermarkets which in turn is catapulting the growth of the market. Moreover, dynamic pricing can be achieved by putting digital price tags in retail stores. Additionally, it can also help in reducing manual operations to increase operations efficiency and workplace productivity. These are the reasons which are driving the adoption of ESL's which is driving the growth of the market.
However, the cost associated with the ESL solution can be expensive at the start for some unorganized retailers because it increases the number of electrified shelves which can support the ESL tags. The retailers need to calculate the benefits of ESL technology before putting it into use and by what time their investment in ESL can give revenue. In countries like South Korea and India where most of the retail market is unorganized can't invest in ESL technology. Moreover, the awareness regarding ESL technology amongst the retailers is low in emerging economies which is proving to be difficult for the adoption of ESL technology. These are the factors that are hampering the growth of the electronic shelf label market.
The major players in the market are Ses-Imagotag, Altierre, Samsung Electro-Mechanics, E Ink Holdings, Displaydata, M2communication, Diebold Nixdorf, Opticon Sensors Europe.
Verified Market Research has segmented the Global Electronic Shelf Label Market on the basis of Product Type, Store Type, and Geography.
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