The global Electronic Shelf Label (ESL) market is expected to register a CAGR of more than 20% over the period of 2021-2027. A growth in the retail sector coupled with the surging number of hypermarkets/supermarkets is leading to the growing demand for electronic shelf life. Retail organizations equip themselves with the best strategies and latest technologies to get ahead in the pricing war. Yet, so far, few retailers have capitalized on the advantages offered them by leveraging data-driven price optimization coupled with electronic shelf labels (ESLs). electronic shelf labels will help retailers become better prepared for today and better positioned for tomorrow. When a retailer leverages ESLs to remove the manual limitation, they can realize a much faster ROI and substantially higher profit potential – up to 33% more profit value potential.
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Electronic Shelf Labels (ESLs) are on the rise in retail due to IoT expansion. Traditional ESL deployment is expensive. It uses wireless, and additional ESL networks that require separate maintenance systems. As per Huawei, ESL Lowers the Total Cost of Operation (TCO) by 30% and reduces Operations and Maintenance (O&M) costs by combining Wi-Fi and RFID into one converged network. Dynamic adjustment and updating improve inventory management and pricing accuracy.
According to UnivDatos Market Insights (UMI)’ research report “Global Electronic Shelf Label (ESL) market”, the market is expected to witness robust growth during the forecast period 2021-2027F. , Retailers around the world are recognizing the impact the analytic solutions can offer them in long run and are investing in analytics and big data to enhance their customer experience. 49% of retailers believe strategic, actionable insights based on customer analytics are vital for a company’s success, and 62% of retailers use analytics, to create a competitive edge over its competitor. Despite this, major retailers fight to make the most of their data.
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Based on components, the market is classified into displays, batteries, transceivers, microprocessors and others. The display category accounted for a significant share of the market. the ability to display the price and facilitate stock management by enabling price updates at any time and simplified customer interactions, reassignments, and firmware updates via a simple tap on an NFC-enabled smartphone in the display is leading to the greater share of this segment.
Based on end-user, the market is categorized into Retail and Industrial. . Among these, the retail segment is expected to witness the highest CAGR during the forecast period. The technological revolution of automation across the retail sector has proven effectively beneficial for the retailer. In addition, trending retail automation fuels the adoption of electronic shelf labels across all types of retail stores, including supermarkets, hypermarkets, specialty stores, and non-food retail stores
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Europe to witness extensive growth
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, France, Italy, Spain, United Kingdom, and Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World. Europe grabbed the major market share and dominated the market in 2020. However, the North America region would witness considerable CAGR during the forthcoming years.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global electronic shelf label (ESL) market are SES-imagotag, Pricer, E Ink Holdings, Displaydata, M2Communication, Samsung Display Solutions, Diebold Nixdorf, Opticon Sensors Europe, Teraoka Seiko, NZ Electronic Shelf Labelling LLC, etc. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
“Global Electronic Shelf Label (ESL) Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors' capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Product Type (Full-Graphic E-Paper, Segmented E-Paper, Liquid Crystal Displays)
2. By Component (Displays, Batteries, Transceivers, Microprocessors, Others)
3. By Communication (Radio Frequency, Infrared, Near-field Communication, Others.)
4. By Display Size (Less than 3 inches, 3 to 7 inches, 7 to 10 inches, More than 10 inches)
5. By Region (North America, Europe, Asia-Pacific, Rest of the World)
6. By Company (SES-imagotag, Pricer, E Ink Holdings, Displaydata, M2Communication, Samsung Display Solutions, Diebold Nixdorf, Opticon Sensors Europe, Teraoka Seiko, NZ Electronic Shelf Labelling LLC)
Key questions answered in the study:
1. What are the current and future trends of the global electronic shelf label (ESL) industry?
2. How the industry has been evolving in terms of technology and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global electronic shelf label (ESL) industry?
5. What is the customer orientation, purchase behavior, and expectations from the global electronic shelf label (ESL) suppliers across various region and countries?
