Meticulous Research

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  • 02-Nov-2021

Meticulous Research®a leading global market research company, published a research report titled “Electronic Shelf Label Market by Product Type (E-Paper, LCD), Display Type (Full Graphics, Black&White), Component (Hardware, Software), Communication Technology (NFC, Wi-Fi), End User (Retail, Automotive Retail), and Geography — Global Forecast to 2028.

The electronic shelf label market is expected to grow at a CAGR of 21.8% by value from 2021 to reach $2.57 billion by 2028. Factors such as stringent environmental regulations concerning the use of paper, the rising trend of retail automation, and the higher efficiency and time savings offered by ESLs compared to traditional paper labels are driving the growth of the market. Moreover, advancements in retail technologies and the availability of real-time product information and prices, with AR and AI, provide significant opportunities in this market. However, high installation cost and lack of proper infrastructure for wireless technology in developing regions are expected to restrain the market's growth to some extent. Besides, low margins of retailers hindering the deployment of automation technology in stores are major challenges for the growth of the electronic shelf labels market.

The market is segmented based on product type, display type, component, communication technology, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on product type, the electronic shelf labels market is segmented into e-paper, LCD, and TFT. The e-paper segment is expected to account for the largest share of the electronic shelf labels market in 2021. The major growth factors of this segment are mainly attributed to their extremely low power consumption, very wide viewing angles, mono, and 3-and 4-color options, and paper-like readability under all store lighting conditions. Moreover, e-paper-based ESLs are environment-friendly, cost-effective, then LCD/LED technologies. Moreover, the e-paper electronic shelf labels segment is expected to witness significant growth during the forecast period 2021-2028.

Based on display type, the electronic shelf labels market is segmented into full graphics, black & white, and segmented. The full graphics segment is expected to account for the largest share of the electronic shelf labels market in 2021. The dominance of this segment is due to its 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. These ESLs are widely used label tags to include promotional ads, customized fonts, barcodes, and QR codes. Moreover, this segment is also expected to showcase the highest CAGR throughout the forecast period.

Based on component, the electronic shelf labels market is segmented into hardware and software. The hardware segment is expected to account for the largest share in 2021 and the highest CAGR during the forecast period. The factors attributed to this segment's growth are due to its low cost as ESL manufacturers produce a majority of the components in-house, while outsourcing some of the components, such as chipsets, displays, and batteries.

Based on communication technology, the electronic shelf labels market is segmented into NFC, Wi-Fi, Bluetooth, and RFID. The NFC segment is expected to account for the largest share in 2021 and is expected to grow at the highest CAGR during the forecast period. The major factors boosting the growth of this segment as NFC-enabled ESL provides seamless connectivity and personalized customer experience.

Based on end user, the electronic shelf labels market is segmented into retail, automotive retail, manufacturing, and other end users. Among these end-users, the retail segment is expected to account for the largest share in 2021. The factors helping the dominance of this segment are mainly attributed to the need to comply with the frequent price changes, complex product specifications, and dynamic offers and discounts. The retail industry is a leading end-user of ESL, with over 60% of the deployments in this sector. Retailers use an ESL system for displaying product pricing on shelves. The product pricing is automatically updated whenever a price is changed from a central control server. However, automotive retail is subjected to showcase the highest CAGR during the forecast period.

Geographically, Europe is expected to account for the largest share of the electronic shelf labels market in 2021. The large share of this market is due to the government-sponsored funding, and the emphasis on the adoption of ESLs. The government has subjected a consumer protection law in the European Union (EU) to adopt retail automation in the region. For instance, in France, the Consumer Code mandates businesses to display price information on their products. In addition, advertisements are prohibited to directly or indirectly incite excessive consumption behaviors or the wasting of energy & natural resources.

The key players operating in the electronic shelf labels market are Teraoka Seiko Co., Ltd. (Japan), Displaydata Limited (U.K.), M2COMM (Taiwan), Mariella Labels OY (Finland), Opticon Sensors Europe B.V. (Netherlands), Pricer AB (Sweden), RAINUS Co., Ltd. (South Korea), SES-imagotag SA (France), SoluM Co., Ltd. (South Korea), Store Intelligence Inc. (U.S.), Zhejiang Hanshow Technology Co., Ltd. (China), Diebold Nixdorf Incorporated (U.S.), NZ Electronic Shelf Labelling (New Zealand), CLEARink Displays, Inc. (U.S.), and E Ink Holdings Inc. (Taiwan).

Download Fre Sample Report @ https://www.meticulousresearch.com/download-sample-report/cp_id=5214

Key Questions Answered in the Report-

  • Which are the high growth market segments in terms of product type, display type, component, communication technology, end user, and geography?
  • What is the historical market size for electronic shelf labels across the globe?
  • What are the market forecasts and estimates for the period 2021-2028?
  • What are the major drivers, restraints, opportunities, and challenges in the electronic shelf labels market?
  • Who are the major players in the market, and what are their market shares?
  • How is the competitive landscape for the electronic shelf labels market?
  • What are the recent developments in the electronic shelf labels market?
  • What are the different strategies adopted by the major players in the market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the electronic shelf labels market, and how do they compete with other players?

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