Increasing Focus On Dynamic Pricing Is Accelerating The Growth Of The Electronic Shelf Label Market
The global electronic shelf label (ESL) market is expected to witness a CAGR of 20.9% during the forecast period 2019 – 2025
Bangalore, India, May, 09, 2019: With its recently published study “Global Electronic Shelf Label (ESL) Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for electronic shelf label will grow significantly in the coming years, owing to the factors such as growing demand for real-time price automation in retail settings, increasing investments in optimizing the retail workflow, government regulations on standardizing the commodity pricing, and growing preference for “human-less retail” amidst the rising labor cost.
Electronic shelf label is a technology solution predominantly used in the retail settings to display and modify the price of items in the store with limited human intervention. The electronic shelf label system utilizes the IoT technology, which automatically reflects the information/data when the changes are made in the central server.
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In recent years, the brick-and-mortar retail segment is witnessing a major shift toward adopting digital technologies to offer superior shopping experience to customers, thereby effectively competing with the e-commerce stores. The major retail chains are focusing on developing strategies that utilize cutting-edge technologies, such as IoT, to close the gap in differences between store price and online price, which in turn contributes to the growth of the ESL market.
The global electronic shelf label market is segmented based on product type, component, end-user, and region & country. In terms of the product type, the market is segmented into LCD electronic shelf label and e-paper electronic shelf label. The e-paper ESL is identified as the fastest growing segment and is likely to remain dominant during the forecast period. The primary reason behind this trend is that e-paper-based shelf displays are equipped to display logos, dynamic barcodes, and QR codes that can be used for promotions and digital payments.
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In 2018, Europe had the largest share in the global electronic shelf label market and is likely to maintain its dominance during the forecast period. This is mainly due to favorable retail regulations and high adoption of front-end technologies in the brick-and-mortar retail segment to improve the quality of customer’s shopping experience.
“Digitalizing shelf labels is the most viable choice for retailers operating in the brick-and-mortar retail segment to respond and sustain the increasing competition from the online retail channels” – Delsingh Bright, Sr Research Analyst, Infoholic Research
Key Insights of the Report Include:
- Market Analysis by Product Type
- LCD Electronic Shelf Label
- E-Paper Electronic Shelf Label
- Market Analysis by Component
- Market Analysis by End-user
- Departmental/Convenience Stores
- Market Analysis by Region
- Asia Pacific
- South Korea
- Australia and New Zealand
- Middle East & Africa (MEA)