Electronic Shelf Label Market Worth 399.6 Million USD by 2020
PUNE, India, February 10, 2016 /PRNewswire/ --
The report "Electronic Shelf Labels Market by Product (LCD, Segmented, & Full Graphic E-Paper), Communication Technology (RF, IR, & Others), Components (Display, Battery, & Others), Store Type (Hypermarkets, Supermarkets, & Others), and Region - Global Forecast to 2020", published by MarketsandMarkets, the ESL Market is estimated to grow from USD 186.5 Million in 2014 to USD 399.6 Million by 2020, at an estimated CAGR of 14.1% between 2015 and 2020.
Browse 69 market data Tables and 59 Figures spread through 123 Pages and in-depth TOC on "Electronic Shelf Labels Market"
http://www.marketsandmarkets.com/Market-Reports/electronic-shelf-label-market-40815676.html
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Electronic shelf labels (ESL) are small wireless display systems which can be replaced with traditional paper pricing systems used in almost all the retail stores. ESL links the shelf price to the store's scanning database directly and has a provision for changing the price of the items remotely. The growing requirement of retailers to automate their product pricing, using a centralized control system which increases accuracy and efficiency of store operation, creating ample growth opportunities for the market in coming years.
The full-graphic ESL would play a key role in developing electronic shelf label market
Currently, full-graphic ESLs are the most demanded ESL product. These labels are mostly used by Tier I and Tier II retailers. These labels use e-paper as its display a component; it is an advanced version of segmented e-paper displays. The major benefit of these labels is energy efficiency and its ability to project graphical objects such as logos and callouts that help in real-time product positioning. Therefore, the benefits of full-graphic ESLs would attract more retailers and is likely to play a key role in developing the overall market.
Radio frequency (RF) expected to hold the largest share of the market based on wireless communication systems during the forecast period
Wireless communication technologies play a critical role in the overall electronic shelf label system architecture. The network formed by communication technologies allows retailers to update the price and other information whenever required. Radio frequency is expected to dominate the market during the forecast period; RF technology is considered as a stable communication technology which can be integrated easily with electronic devices, such as ESLs, for fully automated data transfer. It also possesses an electronic memory which is beneficial for information storage with respect to assets which strengthen the ESL network.
ESL systems expected to witness a high demand from non-food retail stores
The non-food retail sector showing promising growth in terms of ESL adoption. In non-food, especially for electrical products and mobile phones, the need to compete with online stores, such as Amazon, has generated new growth avenues for vendors since price and model descriptions can change frequently. In this industry, competition is the key factor that triggered retailers to invest in ESLs. Further, these retailers want to compete with online stores where customers get hourly discounts and special offers on the purchase. Therefore, these electronic labels help non-food retailers to deploy their in-store strategy of influencing customers' decision by price fluctuations.
Europe dominated the ESL market; APAC to grow at the highest rate during the forecast period
Currently, Europe dominated the market because of the presence of major ESL manufacturers. North America would be market leader by 2020. The ongoing pilot projects and growing awareness of associated benefits are the key reasons for this growth. In APAC, Japan is the only country which contributed to this market in the past, but with the growing demand for retail automation products, the ESL market in other countries, such as China, South Korea, and others, have also started growing. Hence, because of ample scope of expansion, the APAC market is expected to grow at the highest CAGR during the forecast period.
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The major players in this market are Pricer AB (Sweden), Store Electronic Systems, S.A. (France), Displaydata (U.K.), Imagotag GmbH (Austria), M2Communication, Inc. (Taiwan), Samsung Electro-Mechanics (South Korea), Altierre Corporation (U.S.), Advantech U.S., Inc. (U.S.), Wincor Nixdorf (Germany), E-ink Holdings, Inc.(Taiwan).
This research report categorizes the global ESL market based on product type, communication platform, component, store type, and region. The report describes the drivers, restraints, opportunities, and challenges with respect to the market. The porter's five forces analysis has been included in the report with a description of each of its forces and their respective impact on the market.
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