Electronic Shelf Label (ESL) Market is valued at USD 321.6 Billion in 2018 and expected to reach USD 936.7 Billion By 2025 with CAGR of 16.5% over the forecast period.
Electronic shelf label (ESL) is the electronic system used by the retailers to display the price of product and it uses infrared technology or radio frequency for the wireless communications. The price of each product is changes when it is updated in central control server. These help in the elimination of discrepancy in the price or product information and also enhance the store operation efficiency by eliminating the constant checking and updating the paper labels. ESL has also minimized the pricing errors and there is an increase in applications of ESL it can also be used in pharmacy store.
Electronic Shelf Label (ESL) Market report is segmented on Product type, technology type, store type and by regional & country level. Based upon product type, electronic shelf label (ESL) market is segmented into LCD ESL, Segmented E-Paper ESL, and Full-Graphic E-Paper ESL. On the basis of technology type, the market is segmented into Radio Frequency (RF), Infrared (IR), Near Field Communication (NFC), and Other. Based upon store type, electronic shelf label (ESL) market is classified into Hypermarkets, Supermarkets, Non-Food Retail Stores, Specialty Stores and Other.
The regions covered in this Electronic Shelf Label (ESL) market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Electronic Shelf Label (ESL) market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for Electronic Shelf Label (ESL) market are:
Increase in automation in retail and technological advancement is the key factor which helps Electronic Shelf Label (ESL) Market to grow.
There is an constant increase in the retail business with the constant increase in the population over the period of time. There is an increase in the demand for cost efficient and secure fast price labeling has increase the ESL market. There is an constant increase in the automation in the retail sectors which is expected to increase the operational efficiency of the retail store in the long run and reduces the human errors. Moreover, technological advancement and stringent regulatory policies are against the misleading product prices which in turn fuel the growth of electronic shelf labeling market over the forecast period. These ESL system also provide the stock information with weekly price change, promotion and discount offer which improve the customer experience which in turn increases the overall sales of the store. Increasing demand for smart ESL is expected to create opportunities for the electronic shelf label market over the forecast period. However, lack of awareness about ESL market is expected hamper the growth of ESL market over the forecast period.
North America is expected to dominate the Electronic Shelf Label (ESL) Market.
North America accounted for largest market share to dominate the electronic shelf label market. The presence of developed countries such as Canada, U.S. and others coupled with presence of retail stores across the region. Europe is expected to be the second largest growing market for electronic shelf label market due to the technological advancement taken place. Especially, in terms of automation in the retail sector moreover, most of the manufacturer belongs to the region are expected to drive the growth of ESL market. Asia Pacific is expected to develop significantly over the forecast period owing to the presence of developing economies such as India, China and others. Furthermore, increasing awareness among people coupled with increase in retail chain business has also increased the demand for increased operation efficiency. However, some of Asia Pacific countries have high labor cost to reduce the operational cost and increase the efficiency and also increase in promotional activities are expected to drive the growth of ESL market over the forecast period. Latin America is expected to follow Asia Pacific in terms of growth rate. Middle East and Africa is expected to develop at a considerable rate in the near future.
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Middle East and Africa