SELBYVILLE, Del., April 14, 2020 /PRNewswire/ -- According to latest report "Electronic Shelf Label (ESL) Market by Product (LCD ESL, Segmented E-Paper ESL, Full Graphic E-Paper ESL), Technology (RF, IR, NFC), Application (Industrial, Commercial [Hypermarket, Supermarket, Non-Food Retail]), Regional Outlook, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of electronic shelf labels will cross $2 billion by 2026. Enhanced operational efficiencies offered by ESL and rapid growth of retail automation are driving the market growth.
The e-paper ESL segment is anticipated to gain prominence in the coming years due to its energy efficiency. Companies such as E Ink Corporation offer segmented displays that are thin and rugged, making them convenient for daily use. ADKOM Elektronik GmbH offers segment papers as customized solutions. The reflective technology used in these ESLs makes it easy to read.
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NFC-enabled ESLs is the current trend in the electronic shelf label market with several manufacturers focusing on integrating the technology into their products. NFC technology facilitates customers with easy payment methods through smartphones and tablets, thereby enabling an enhanced self-checkout experience. The high level of encryption provided by the technology is also a crucial factor responsible for its increased adoption. The VUSION retail IoT platform offered by SES Imago tag provides a unified in-store IoT open infrastructure for retailers to leverage NFC technology.
The ESL market is expected to witness high demand from the commercial sector. Supermarkets are focusing on digitizing their infrastructure by combining the benefits of online shopping with traditional brick & mortar stores. For instance, in October 2019, Auchan Retail and Hanshow Technology extended their partnership to develop innovative connected labeling solutions to deploy the technology to more than five million items in seven countries. Accurate pricing and improved omnichannel experience are the key factors attributing to the demand for electronic shelf labels in supermarkets.
The electronic shelf label market is still at its nascent stage in the Middle East & Africa region. However, the industry is expected to grow in the region due to the rapidly flourishing retail sector in the UAE and Saudi Arabia. A rise in the population along with government initiatives to boost the retail sector will favor the market growth.
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Some major findings of the ESL market report are:
- The retail sector is rapidly adopting ESLs to increase its customer engagement and retain the customer base with attractive pricing and innovative marketing campaigns.
- ESLs enhance the overall operational flow in industries and hyper & supermarkets by providing centralized control of the whole system.
- Market players are focusing on product launches to increase their market dominance. In January 2020, E Ink Holdings, Inc. expanded its color e-paper offerings for applications in the signage, consumer electronics, education, and retail sectors.
- Major market players include Advantech Inc., Altierre Corporation, Displaydata Limited, E Ink Holdings, Inc., Herbert Retail Limited, M2COMM, Opticon Sensors Europe B.V., and Pricer AB.
Table of Contents (ToC) of the report:
Chapter 3 Electronic Shelf Label (ESL) Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 - 2026
3.2.1 Retail industry landscape
3.2.2 IoT in retail industry landscape
3.2.3 Digital signage industry landscape
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Retail ESL integration technology
3.4.2 IoT in ESL
3.4.3 Small Retail Labels (SRL)
3.5 Regulatory landscape
3.5.1 Electronic waste regulations
3.5.2 U.S. environmental regulatory compliances
3.5.3 Europe environmental regulatory compliances
3.5.4 Asia Pacific environmental regulatory compliances
3.5.5 Pricing regulations
184.108.40.206 Fair Packaging and Labeling Act - U.S.
220.127.116.11 Competition Act - Canada
18.104.22.168 S.I. No. 639 of 2002 European Communities Regulations
22.214.171.124 Article 2 (Price law of People' Republic of China)
126.96.36.199 Brazil Consumer Protection Code
3.5.6 COVID-19 regulations
3.6 Price trend analysis, 2015 - 2026
3.6.1 By product
3.6.2 By region
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfall and challenges
3.8 Growth potential analysis
3.9 Porter's analysis
3.10 Competitive landscape, 2019
3.10.1 Company market share analysis
3.10.2 Strategy dashboard
3.11 PESTEL analysis
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Electronic Shelf Label (ESL) Market growth predicted at 10% till 2026: GMI
The retail sector is rapidly adopting ESLs to increase its customer engagement and retain the customer base with attractive pricing and innovative marketing campaigns.
SOURCE Global Market Insights, Inc.