The global electronic shelf label market size is expected to reach USD 4.79 Billion in 2032 and register a steady revenue CAGR of 13.8% over the forecast period, according to latest analysis by Emergen Research. High demand for price optimization from retailers can be attributed to steady revenue growth of the global electronic shelf label market. Retailers still need to act after receiving real-time pricing update or input. The advantages of dynamic pricing are constrained by the frequency of price adjustments. Electronic Shelf Labels (ESLs) are effective and offer significant cost and labor savings. Cost for printing tags and labels is obsolete and time and manual effort for changing price tags is not required. Also, as AI price optimization is used, the opportunities double. According to research, a retailer can get a far faster Return on Investment (ROI) and significantly higher profit potential, up to 33% more profit value potential, when they use ESLs to remove the manual restriction on how many price adjustments they can accept.
Also with help of the most recent research, “”Electronic Shelf Label Market,”” stakeholders can develop more successful marketing strategies by learning more about their target customers. Most importantly, the document empowers business owners to seek information about potential consumers and where they can find them. With an exclusive coverage of the top vendors, the study enables business owners to know more about the local market and locate potential consumers.
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Some Key Highlights From the Report
- On 8 February 2023, the trade group that regulates Bluetooth technology, the Bluetooth Special Interest Group (SIG), announced the launch of a new wireless standard for the Electronic Shelf Label (ESL) sector. ESL systems have up till now relied on exclusive wireless communication protocols, which could be a hurdle to widespread implementation. To solve this difficulty, professionals from the ESL industry worked with the Bluetooth SIG to produce a scalable, ultra-low power, highly secure ESL wireless standard based on Bluetooth technology. Retail shelf pricing typically relied on error-prone, labor-intensive paper price tags, and manual operations that often had to be done many times in a typical day.
- Liquid crystal display segment is expected to lead in terms of revenue share in the global market over the forecast period. Liquid-Crystal Displays (LCDs), which feature pixels made of liquid organic material, are very widely used in a variety of structures, including homes, offices, schools, factories, and even automobiles. Given that there are a variety of alternative display technologies available, one would wonder why LCDs are so widely used. LCDs utilize less energy than non-LCD devices even though they still need power to illuminate each individual pixel. For instance, a typical LCD will use around 25% less power than a Cathode-Ray Tube (CRT). Hence, LCDs offer economic benefits in the form of reduced utility costs.
The global Electronic Shelf Label industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
SES-Imagotag, Solum, Pricer, Displaydata Limited, Teraoka Seiko Co., Ltd., M2Comm, Opticon Sensors Europe B.V., Rainus, Shanghai SUNMI Technology Co., Ltd., Hanshow Technology
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Electronic Shelf Label market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Electronic Shelf Label market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Electronic Shelf Label market.
Market Segmentations of the Electronic Shelf Label Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Electronic Shelf Label market on the basis of product, application, and region:
Segments Covered in this report are:
- Component Outlook (Revenue, USD Billion; 2019–2032)
- Product Type Outlook (Revenue, USD Billion; 2019–2032)
- Liquid Crystal Displays
- Segmented E-Paper Displays
- Fully Graphic E-Paper Displays
- Communications Technology Outlook (Revenue, USD Billion; 2019–2032)
- Radio Frequency
- Near-Field Communication
Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.