Electronic Shelf Label (ESL) Market Size Worth $4820 Million By 2028 | CAGR: 20.29% | Radiant Insights, Inc.
SAN FRANCISCO, June 18, 2019 /PRNewswire/ -- Global Electronic Shelf Label (ESL) Market is projected to grow considerably in the forecast period due to the growing retail industry and emergence of Omni channel. Electronic Shelf Label (ESL) is widely used by the retailers for displaying the product prices on shelves. Whenever there is an update for product prices, the display prices are automatically changed from the central control server. E-paper display used in ESL offers low reflection and high contrast for better readability. Electronic shelf labels improve the store productivity by eliminating paper printing for prices and employ multiple staff for regular price updates.
The key factors influencing the growth of Electronic Shelf Label (ESL) market are increasing popularity of automation in retail industry, benefits offered by ELS, such as time saving, low cost concerning labor, proliferation of IoT in retain segment, and technological advancements in IoT. Moreover, high adoption rate from small, medium and larger retailers (supermarkets and hypermarkets) to improve their productivity, changing preference in consumer shopping and increasing adoption of digitalization by developing economies is driving the market. However, heavy seed funding is required for installing these systems is restraining the market of Electronic Shelf Label (ESL).
Emergence of new technologies and automated ELS systems is an emerging trend in the Electronic Shelf Label (ESL) market. Likewise, increasing implementation of automation reduces the revenue leakage, ultimately affecting prices. This is majorly challenging Electronic Shelf Label (ESL) industry.
Electronic Shelf Label (ESL) market is categorized on the basis of product type, technology, application, and geography. On the basis of product type, market of Electronic Shelf Label (ESL) is divided into LCD ESL, full graphic E-paper ESL, and segmented E-paper ESL. Full graphic E-paper ESL segment is anticipated to lead the market due to longer battery life with low power consumption capacity. This offers wide viewing angles for consumers to easily read the tags on the bottom and top shelves.
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Based on technology, Electronic Shelf Label (ESL) market is bifurcated into IR, RF, NFC, and others. RF ESL segment is predicted to lead the market in the forecast period improved security and cost-effectiveness of these products. Manufacturers are increasingly adopting RF technology, since it offers multiple layers of security in various low power wireless products.
In terms of application, Electronic Shelf Label (ESL) market is divided into commercial and industrial. Commercial segment is further divided into hypermarkets and supermarkets, non-food retail, and others. Industrial application segment is expected to old larger share of the market owing to the increased demand in industries for efficient material management and inventory tracking.
Geographically, Electronic Shelf Label (ESL) market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Japan from Asia Pacific is accounts for significant share of the market owing to the adoption of enhanced technologies. Retailers are increasingly adopting these solutions for attracting customers with different offers. Retailers from different economies are demanding these solutions to satisfy the explosive demand for various types of consumer goods.
The top players in Electronic Shelf Label (ESL) market comprise Pricer, SES-imagotag, DIGI, Displaydata Ltd, Altierre Corp, Samsung Electro Mechanics (SEMCO), E-Ink Holdings Inc, Mirador Marketing, LG Innotek, NZ Electronic Shelf Label, CEST Ltd, Hanshow Technology, Wincor Nixdorf, and Opticon Inc.
The global Electronic Shelf Label (ESL) market was valued at $632 million in 2017, and the analysts predict the global market size will reach $4820 million by the end of 2028, growing at a CAGR of 20.29% between 2017 and 2028.
This report provides detailed historical analysis of global market for Electronic Shelf Label (ESL) from 2013-2018, and provides extensive market forecasts from 2018-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Electronic Shelf Label (ESL) market.
Access 115 page research report with TOC on "Global Electronic Shelf Label (ESL) Market" available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/2013-2028-report-on-global-electronic-shelf-label-esl-market
Market Segmentation:
- Leading players of Electronic Shelf Label (ESL) including:
- Store Electronic Systems
- Pricer
- Samsung Electro-Mechanics (SEMCO)
- E Ink
- Displaydata
- Opticon Sensors Europe B.V
- DIGI
- Panasonic
- Altierre
- Hanshow
- LG Innotek
- Market split by Type, can be divided into:
- Standard (1-3 inch)
- Mid-Large (3.1-7 inch)
- Large (7.1-10 inch)
- Market split by Application, can be divided into:
- Grocery/Supermarket
- Drug Stores
- Specialty Stores
- Market split by Sales Channel, can be divided into:
- Direct Sales
- Distribution Sales
- Market segment by Region/Country including:
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
- South America Brazil, Argentina, Colombia and Chile etc.)
- Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
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