BANGALORE, India, Jan. 5, 2021
BANGALORE, India, Jan. 5, 2021 /PRNewswire/ -- The Electronic Shelf Label Market is Segmented By Product Type (LCD, Segmented E-Paper, and Full-Graphic E-Paper), Component (Displays, Batteries, Transceiver, Microprocessors, and Others), Display Size (Less than 3 Inch, 3 Inch to 7 Inch, 7 Inch to 10 Inch, and More than 10 Inch), Communication Technology (Radio Frequency, Infrared, Near Field Communication, and Others), and Store Type (Hypermarkets, Supermarkets, Non-Food Retail Stores, Specialty Stores, and Others), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2027. This report is published on Valuates Reports in the Electric & Electronic category.
The global electronic shelf label (ESL) market size was valued at USD 624.7 Million in 2018 and is projected to reach USD 2.40 Billion by 2027, growing at a CAGR of 15.9% from 2020 to 2027.
Major factors driving the electronic shelf label market size are trending automation in the retail industry, increasing the need for more cost-efficient and less time-consuming alternatives to paper labels.
This study comprises an analytical depiction of the electronic shelf label market size along with the current trends and future estimations to depict the imminent investment pockets. The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
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TRENDS INFLUENCING THE ELECTRONIC SHELF LABEL MARKET SIZE
An increase in the adoption of automation in the retail sector is expected to drive the electronic shelf label market size. Automation has proven to be beneficial for retailers. The trend of retail automation is fuelling the adoption of electronic shelf labels across all forms of retail stores, including supermarkets, hypermarkets, speciality stores, and non-food retailers. The establishment of this system in the retail store provides a competitive pricing approach as well as helping to minimize labour input by eliminating manual operations.
Furthermore, the electronic shelf label market size is expected to grow in the emerging economies due to growing retail automation. The countries in Asia and the Middle East are among the fast-growing countries in the retail automation market, thus providing sufficient room for the deployment of electronic shelf labels in retail infrastructure. These emerging markets are expected to boost the demand for the electronic shelf label market during the forecast period.
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ELECTRONIC SHELF LABEL MARKET SHARE ANALYSIS
Based on product type the full-graphic e-paper is expected to witness growth in the electronic shelf label market. a full-graphic e-paper uses e-papers as their display component. The key advantage of these labels is their energy efficiency and their ability to project graphic items, such as logos and callouts, to promote real-time product positioning.
Based on the store type, the non-food retail stores are expected to witness the highest CAGR. Non-food retail stores include computer shops, supermarkets, and pharmacies. Digital pricing and superior stock management are the main benefits of using electronic shelf labels in these stores. The standardized electronic labels lead to well-organized pharmacies and electronic stores.
Based on region, the Asia-Pacific electronic shelf label market is expected to grow at an 18.7% CAGR during the forecast period. This rapid growth of Asia-Pacific is attributed to the presence of high-interest retail giants and easy availability of processing machines, the high growth of full graphic e-paper displays, and the increasing popularity of non-food retail stores in the region.
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Electronic Shelf Label Market Key Segments:
By Product Type
By Display Size
By Communication Technology
By Store Type
- E Ink Holdings
- Samsung Electro- Mechanic
- Diebold Nixdorf
- Clearink Display
- Panasonic Corporation
- NCR Corporation
- SoluM Co., Ltd.
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