A recent report published by Infinium Global Research on electronic shelf label market provides an in-depth analysis of segments and sub-segments in the global as well as regional electronic shelf label market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional electronic shelf label market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global electronic shelf label market. According to the report, the global electronic shelf label market is projected to grow at a CAGR of 20.1% over the forecast period of 2019-2025.
Electronic shelf labels utilized by retailers have an indicator that displays the cost of the product and the offers associated with the product. There are numerous electronic shelf labels in a retail store that are controlled by a server, which usages a wireless communication network to communicate with the electronic shelf label. If the price of a product is altered, the electronic shelf label server sends the price alteration data to an electronic shelf label displaying that product. On receiving the altered price data, the electronic shelf label changes the price information and updates it on the database. An electronic shelf label is usually attached on the front edge of a retail shelf and the product cost displayed on an electronic shelf label is automatically updated whenever a price is changed.
The upsurge in digital transformation among numerous industries globally has a positive impact on the country’s economic growth, as the surge in these transformations brings innovative changes in business operations. Furthermore, automation in retail is anticipated to play a major role in transforming economic growth due to factors such as a rise in consumer purchasing power, growth in the efficacy of retailing supply chain, and smart logistic management among others. Similarly, the need to improve customer experience is pouring the adoption of technological advancements in the retail business. These factors are projected to boost the electronic shelf label market in the near future. On the other hand, the high installation and infrastructure cost hamper market growth during the projection period. Further, low return on investment is also anticipated to obstruct the growth of the electronic shelf label market.
The on-going COVID-19 pandemic has unenviably affected the electronic industry with manufacturing operations conditionally suspended across major manufacturing hubs, leading to a considerable slowdown in the production. In addition to having an influence on the production, the on-going the epidemic has taken a toll on the consumer demand for display integrated devices, likely worsened by the lockdown enforced across major nations. Obscurity regarding the possible length of lockdown makes it challenging to anticipate how and when a resurgence in the electronic industry will occur.
Among the geographies, the North America region is expected to hold the largest share in the global electronic shelf label market owing to the presence of prominent industry players coupled with rapid growth in the retail sector across the region. Furthermore, technological adoption across end-use companies in the North American region will drive regional market growth. Moreover, the Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period, owing to the high presence of retail giants with higher customer interest. Moreover, the easy accessibility of processing machinery and high growth of full graphic e-paper display are the factors driving the market growth in the Asia Pacific region.
The report on the global electronic shelf label market covers segments such as type, component, communication technology, and store type. On the basis of type, the sub-markets include LCD ESL, segmented e-paper ESL, and full-graphic e-paper ESL. On the basis of component, the sub-markets include batteries, transceivers, microprocessors, displays, and other components. On the basis of communication technology, the sub-markets include radio frequency, near field communication, infrared, and other communication technologies. On the basis of store type, the sub-markets include hypermarkets, non-food retail stores, specialty stores, supermarkets, and other store types.
The report provides profiles of the companies in the market such as Samsung Electro-Mechanics, E Ink Holdings Inc., Displaydata Ltd., Diebold Nixdorf, Teraoka Seiko Co., Ltd., NZ Electronic Shelf Labelling Ltd., SES-Imagotag, Pricer AB, Forbix Semicon India Pvt. Ltd., Advantech U.S., Inc., and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the electronic shelf label market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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