Digitalization of Stores and Prevalence of Retail Automation Trend to Proliferate the Electronic Shelf Label (ESL) Market | UnivDatos Market Insights

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NOIDA, India, Sept. 26, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Electronic Shelf Label (ESL) Market is expected to grow at a CAGR of over 20% during 2021-2027, reaching USD 2.2 billion by 2027. The analysis has been segmented into Product Type (Full-Graphic E-Paper, Segmented E-Paper, Liquid Crystal Displys); Component (Displays, Batteries, Transceivers, Microprocessors, Others); Communication (Radio Frequency, Infrared, Near-field Communication, Others.); Display Size (Less than 3 inches, 3 to 7 inches, 7 to 10 inches, More than 10 inches); Region/Country.

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The Electronic Shelf Label (ESL) market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Electronic Shelf Label (ESL) market. The Electronic Shelf Label (ESL) market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Electronic Shelf Label (ESL) market at the global and regional levels.

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Market Overview

An electronic shelf label (ESL) system is used by retailers for displaying product pricing on shelves. The product pricing is automatically updated whenever a price is changed under the control of a central server. Growth in the groceries market, hardware stores, sports equipment, furniture, consumer appliances, and electronic gadgets are leading to the growing market for electronic shelf labels 

The rise in demand for automation products in retail across the globe acts as one of the major factors driving the growth of the retail automation market. The increase in the adoption of retail automation owing to the several advantages it offers such as low cost, accuracy, speed, and high-quality performance, and high implementation of automated technologies in the retail industry accelerates the market growth. The increase in the use of automation to automate various manual processes such as inventory management, book-keeping, and accounting within the retail sector, and the surge in the demand for quality and fast service further influence the market. Additionally, rising digitization, expansion of end-use industry, concerns regarding security risks, such as theft and inventory loss, and the emergence of industry 4.0 positively affect the retail automation market. Furthermore, the rise in the adoption of cloud-based POS systems extends profitable opportunities to the market players in the forecast period of 2021 to 2028.

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https://univdatos.com/report/electronic-shelf-label-market/

The global Electronic Shelf Label (ESL) market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• Based on communication, the market is classified into Radio Frequency, Infrared, Near-field Communication, and Others. Despite the growth of the wireless radio-frequency system, infrared communication has long dominated electronic shelf label applications which require speed, durability, reliability, and advanced functionalities.RF technology uses radio waves to transmit the audio signal, while IR technology is a type of light that can't be seen by the naked eye and uses this infrared light to carry the audio signal, allowing the signal to remain in the room.
• Based on display size, the market is categorized into Less than 3 inches,3 to 7 inches,7 to 10 inches, and More than 10 inches. . Among these 7 to 10 inches segments is expected to witness the highest CAGR during the forecast period. The revival of the commercial sector after the COVID pandemic is contributing to the growth of the market.

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Electronic Shelf Label (ESL) Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
• Rest of the World

For a better understanding of the market adoption of the Electronic Shelf Label (ESL) industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, U.K., France, Italy, Spain, and the Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and the Rest of World. Europe is expected to witness the highest CAGR during the forecast period as the region is characterized by the presence of many service providers, especially in the UK., France, and Germany. Large retailers in the market can leverage the benefits through IoT-based ESLs to change the product pricing across a chain of stores in different locations, fast and efficiently, using a single software. The expanding e-commerce market will further boost the popularity of IoT-based ESLs.

The major players targeting the market include

• SES-imagotag
• Pricer
• E Ink Holdings
• Displaydata
• M2Communication
• Samsung Display Solutions
• Diebold Nixdorf
• Opticon Sensors Europe
• Teraoka Seiko
• NZ Electronic Shelf Labelling LLC

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Electronic Shelf Label (ESL) Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Electronic Shelf Label (ESL) market?
• Which factors are influencing the Electronic Shelf Label (ESL) market over the forecast period?
• What are the global challenges, threats, and risks in the Electronic Shelf Label (ESL) market?
• Which factors are propelling and restraining the Electronic Shelf Label (ESL) market?
• What are the demanding global regions of the Electronic Shelf Label (ESL) market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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Electronic Shelf Label (ESL) Market Report Coverage

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