This market research report provides valuable insights into the Global Electronic Shelf Label (ESL) market, projecting significant growth during the forecast period. Traditional brick-and-mortar retailers are adopting cutting-edge technologies, particularly the Internet of Things (IoT), to bridge the gap between in-store and online pricing, thereby responding better to online retail competition.
Real-time price adjustments, enhanced retail workflows, government regulations on commodity pricing, and rising labor costs are key factors driving the growth of the global electronic shelf label market. Retailers are increasingly leveraging IT capabilities to provide an improved shopping experience for customers, from product identification to contactless payment.
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Furthermore, companies operating in the retail sector, particularly in developed economies, are mandated to adhere to guidelines and standards that eliminate misleading product pricing and information, further fueling the demand for electronic shelf labels.
Market Revenue and Segmentation Analysis
The global electronic shelf label (ESL) market is expected to grow at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period from 2019 to 2025.
Product Type Segmentation
- LCD Electronic Shelf Label:
- E-paper Electronic Shelf Label: The dominant segment in 2018, projected to remain dominant with a CAGR of 22.2% during the forecast period.
Component Segmentation
- Software and Services: Including professional services, software, and maintenance.
End-User Type Segmentation
- Hypermarket/Supermarket
- Departmental/Convenience Stores
- Electronics & Appliance and Home Furnishing Stores
- Specialty Stores
- Others
Regional Analysis
In 2018, Europe held the dominant position in the global electronic shelf label market, followed by the Americas. Asia Pacific is identified as the fastest-growing region in the electronic shelf label market, with a projected CAGR of 29.0% during the forecast period from 2019 to 2025. This growth is attributed to rapid urbanization, the expanding retail sector, and increased adoption of digital technologies, including IoT, by brick-and-mortar retail vendors.
The report also provides country-wise analysis of the ESL market across various regions, including the Americas, Europe, Asia Pacific, and Middle East & Africa (MEA).
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Benefits and Key Players
The report offers an in-depth analysis of key vendors, encompassing financial health, business units, key business priorities, SWOT analysis, strategies, and viewpoints. Some of the key players profiled in this study include SES-imagotag, Pricer AB, LG INNOTEK, Displaydata Limited, Teraoka Seiko Co. Ltd. (DIGI), SoluM, Hanshow, Altierre, Opticon, and SUNPAI INDUSTRIES LIMITED.
This comprehensive analysis of the global electronic shelf label market provides valuable insights into the industry, current market scenarios, and related technologies. It aids venture capitalists in understanding revenue opportunities across different segments to make informed decisions.
Key Stakeholders
- Traditional retailers (brick-and-mortar)
- Online retailers
- Retail technology providers
- Regulatory bodies
- Investors and analysts
- Research and development teams
- Strategic business planners
Market Dynamics:
Surging air traffic:
- As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability:
- The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability:
- The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization:
- The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation:
- The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems:
- The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology:
- Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation:
- The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets:
- Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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