The global Electronic Shelf Labels Market is estimated to be
valued at US$ 1,025.4 Mn in 2022 and is expected to exhibit a CAGR of 16.06 %
over the forecast period 2023 to 2030, as highlighted in a new report published
by Coherent Market Insights.
Market Overview:
Electronic shelf labels (ESLs) are electronic displays that are attached to
retail shelves or glass counter cabinets. They display product and pricing
information instead of paper labels. ESLs provide advantages like easy price
updates, customized promotion capabilities, and real-time inventory management.
Market key trends:
One of the key trends in the electronic shelf labels market is the growing
adoption of IoT technology. Traditional paper shelf tags require manual
updating of prices and product information which is labor intensive. IoT
enabled ESLs use wireless connectivity to connect to the central servers and
databases in stores. This allows real-time updating of product and pricing data
from a central location. IoT also enables automation of other functions like
alerting staff for low inventory levels.
Segment Analysis
The global electronic shelf labels market is segmented by technology into LCD
ESLs and E paper ESLs. E paper ESLs dominate the market and accounted for over
60% share in 2022. E paper ESLs provide advantages such as low power
consumption and better readability from all angles. Thus, they have emerged as
the technology of choice for retailers.
Key Takeaways
The global electronic shelf labels market is expected to witness high growth,
exhibiting CAGR of 16.06% over the forecast period from 2022 to 2030, due to
increasing adoption by retailers to enhance store operations and improve
customer experience.
Regional analysis
The
electronic
shelf labels market in North America is expected to dominate the global
market during the forecast period. This is attributed to the presence of major
ESL players and early adoption by retailers in the region. The Asia Pacific ESL
market is projected to grow at the fastest rate during the forecast period due
to growing retail sector and digitization across retail stores in the region.
Key players
Key players operating in the electronic shelf labels market are SES-Imagotag,
Pricer AB, Displaydata, Opticon Sensors Europe B.V, Samsung Electro-Mechanics,
NZ Electronic Shelf Labelling, M2Communication, Diebold Nixdorf, Altierre,
Teraoka Seiko, Advantech US, E Ink, Toshiba Global Commerce Solutions,
SESimagotag, E-Ink, Wuxi Wei Feng Technology, and Cicor. SES-Imagotag dominates
the market and offers a wide range of ESL solutions to retailers globally.
Read More:
https://www.ukwebwire.com/electronic-shelf-label-market-growth-connected-with-iot-adoption-as-one-line-heading/
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