Global Electronic Shelf Label Market is valued at USD 976.90 Million in 2022 and is projected to attain a value of USD 3849.94 Million by 2030 at a CAGR of 18.70% during the forecast period, 2022–2028.
Growing demand for Electronic Shelf Label is due to the increased use of Electronic Shelf Labels in stores. The shelf labels are also becoming more common, as retailers are trying to stay ahead of changes in retail store management and marketing trends. Growth in the Electronic Shelf Label Market is being driven by increasing adoption of RFID-enabled technology as well as growth in demand from different sectors. Furthermore, advancement in retail analytics and increase in data breaches are also expected to boost demand for Electronic Shelf Label Market in the near future. ESLs work by combining a sensor with a display and adding it to the shelf. The ESL will then detect when a new product is put on the shelf and show its price and available quantities.
Increasing Consumer Awareness about their Health and Rising Adoption of Technology to Drive Growth of Electronic Shelf Label Market
Electronic Shelf Label Market Size, 2022 To 2030 (USD Million)
There are a number of factors contributing to the rising demand for Electronic Shelf Labels across the world. Increasing consumer awareness about their health and the food they eat, changing consumer preferences towards more convenient products, increasing focus on emerging economies by manufacturers and suppliers, and government initiatives to provide healthy and hygienic food products are some of the reasons for this trend. Moreover, the growing demand for ELS can be attributed to the increasing consumer preference for high quality food and the need for retailers to provide these in order to meet consumer demands as well as an increase in the use of mobile devices by consumers.
This is an important factor which drives the growth of this market. With the advancement of technology, people are now able to use their mobile phones to scan any barcode and get product details.
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By End Use, Hypermarkets are the Largest Consumer of Electronic Shelf Label Market
Hypermarkets are known to be the largest consumer of Electronic Shelf Label because of their size and volume. The quantity of products in a regular supermarket is less than the number of products found in a hypermarket. This makes it hard for the staff to keep up with checking all the price tags for accuracy. Electronic Shelf Labels help identify the product's price faster and easier as well as prevent items from being mishandled as they move through the store.
The public's demand for fresh and high-quality food is one of the main factors behind this trend. Hypermarkets operate around the clock, which means they require more staff per store to fill their shelves. E-labeling helps stores operate more efficiently with fewer employees. As a result, hypermarkets can stock their shelves quickly and minimize outages by reducing employee turnaround time.
North America to Continue Dominating Global Electronic Shelf Label Market
North America is an example of a population that has been using the Electronic Shelf Label (ESL) for a long time. Advanced economies like the US and Canada have invested heavily in their retail industries, making ESL a natural fit. What's more, North America has pioneered some of the most innovative ESL technologies on the market today. Due to the large population and high levels of technology, North American consumers are the most digitally-connected in the world. This allows them to be more aware of what they buy and what it costs. Wherein, the retail and grocery industries are the largest consumers of Electronic Shelf Labels (ESL). This is because they want to provide their customers with clear, up-to-date information about the product that they are buying.
Major players in the market include Pricer (Sweden), SES-imagotag (France), Displaydata (UK), E Ink Holdings (Taiwan), and M2Communication (Taiwan)..
Electronic Shelf Label Market is Segmented as Follows:
- Type (LCD, E-paper, Full-graphic E-paper)
- Communication (RF, IR, NFC)
- End User (Hypermarkets, Supermarkets, Specialty)
- Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Pricer (Sweden)
- SES-imagotag (France)
- Displaydata (UK)
- E Ink Holdings (Taiwan)
- and M2Communication (Taiwan).
||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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Electronic Shelf Label Market is Tabulated as Follows: