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Electronic Shelf Label Market to showcase significant growth via retail sector over 2018-2024

Author : Ronak Bora | Published Date : 2019-04-17 

Global Market Insights, Inc. has launched a report on electronic shelf label market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.

Electronic Shelf Label Market is expected to witness a significant growth due to the increasing adoption by the retail industry. These components offer benefits such as better price visibility, reduction in pricing errors, and promotional capabilities. The continuously growing retail sector in addition to the increasing security concerns regarding theft is propelling the electronic shelf label industry growth. The retailers are adopting these components for asset and merchandise tracking as these products offer benefits such as real-time tracking, re-programmability, and simultaneous identification.

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RF-enabled ESL market will witness significant growth due to increasing adoption of radio frequency. Low cost of the technology is encouraging the small retailers to adopt the RF-enabled solutions. Also, RF technology is flexible and allows fast & easy rectification of issues. NFC-enabled electronic shelf label market will grow due to ease of use of these devices with other handheld devices by simply bringing the devices closer. Also, the technology enables communication between labels and tags.

With the rising frequency of innovations in connectivity, IoT and smart technologies, the electronic shelf label market can be expected to transform significantly, supported by better accessibility to AI and cloud-based services. SES-imagotag, LG Innotek, M2Communication, CEST, Displaydata, Price AB and Teraoka Seiko Co. Ltd. are come key participants in the global electronic shelf label industry, which is projected to exhibit a 13% CAGR from 2018 to 2024.

LCD electronic shelf label market will hold a majority share in the industry due to low cost and high efficiency of LCD displays. These offer advantages such as low power consumption and bi-stable features that aid the industry growth. The full graphic e-paper ESL products are gaining prominence in the industry as these provide support for full graphic imaging and crisp display. Also, these products can work on the communication network that updates pricing in real-time.

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Increasing availability of automation solutions for the commercial sector has boosted the electronic shelf label market revenue, which surpassed USD 450 million globally in 2017 in conjunction with the growing number of retail outlets. Products such as groceries or seasonal fruits can witness price fluctuations while the stacking of new products also raises difficulties for retail staff to manage and update the pricing tags. The necessity to save time and energy spent for inventory management at stores with a large number of items has directed businesses towards the electronic shelf label industry

Asia Pacific electronic shelf label market will grow at a high rate due to positively changing consumption patterns and economic development of countries including India and China. Development of retail industry in the region due to swelling sales of consumables will positively impact the growth of industry in the region. Also, expansion of business by the international retailers in the region is one of the major factors for the increasing demand of these products. For instance, in August 2018, Swedish furniture giant Ikea expanded its presence by opening a store in India.

Browse Full Reports: www.gminsights.com/industry-analysis/electronic-shelf-label-esl-market

About Global Market Insights

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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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected].org | https://twitter.com/RonakBora26

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