Electronic shelf label (ESL) is an emerging system used for displaying product pricing and product information on shelves by using wireless communication networks such as radio frequency (RF) technology, and infrared (IR) technology to communicate with the back-end database. These labels help to eliminate the discrepancies in selling price of the products and displays reliable pricing to the customers. Moreover, it helps to enhance the operational efficiency of the store by eliminating the need to check and update paper labels. It also enables retailers to update pricing as frequently as needed and minimizes pricing errors for customers. With increasing applications in most end- use sectors, from organized retail stores to specialty stores, consumer electronics sector to drug stores/pharmacies, ESL systems have grown to become a necessity for nearly all stores dealing with electronic pricing and shelf management.
In more recent times, considerable technological advancement has taken place in the ESL market. Organized retail sectors and specialty stores widely use ESL systems for displaying products pricing on shelves. Rising demand from retailers for secure, fast, and cost efficient price labeling has augmented the demand for ESL systems. Growing adoption of store automation in retail stores across the world is primarily driving demand for ESL systems.This is anticipated to drive the market over the forecast period.
Moreover,technological advancement and stringent regulations against misleading product prices is expected to fuel the ESLmarket in the near future. However, lack of awareness and usefulness of ESL systems, and high initial investment is projected to inhibit the growth of the market across the world. The ESL market is likely to reach a value of US$ 2,517.9 Mn by 2026 from US$ 497.7 Mn in 2017, expanding at a CAGR of 20.0% during the forecast period.
Request Sample For More [email protected] https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=16418
Based on component, the electronic shelf label market can be segmented into hardware, software and services. Hardware ESL system is the most effective way of displaying product pricing on shelves by using wireless communication networks. The hardware segment accounted for a significant market share globally in 2017 and is projected to hold its leading position over the forecast period. The hardware segment can be divided into labels (product) type and infrastructure. Labels type is further categorized into LCD ESL, segmented E-paper ESL, and full-graphic E-paper ESL. Under labels type, full-graphic E-paper ESL segment accounted for major share of the market due to its multi-color displays, high aesthetics, and wide visibility display. Full-graphic E-paper ESL is energy efficient and is able to project graphical objects such as callouts and logos that facilitate real-time product positioning. Thus, retailers are gradually adopting this label type. LCD ESL labels type sub-segment also accounted for prominent market share due to its low power consumption and bi-stable features. Infrastructure segment is sub-segmented into access points (transceivers & base stations) and handheld devices.
Software segment is projected to expand at a rapid pace during the forecast period. This segment is further bifurcated into pricing and shelf management software, and other digital infrastructure. Pricing and shelf management software sub-segment held the leading market share in 2017 due to its huge adoption rate among organized retailers.The services segment is categorized into support and maintenance, installation, and training and consulting. Among these, installation service sub-segment occupied major share of the global ESL market in 2017,whereas training and consulting sub-segment is projected to expand rapidly over the forecast period.
The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary sources such as annual reports, company websites, SEC filings and investor presentations, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, World Bank database, and industry white papers are usually referred to develop a preliminary understanding of the market.
Read Latest Press Release [email protected] https://www.prnewswire.com/news-releases/increase-in-aging-vehicles-on-the-road-to-propel-growth-in-roadside-assistance-market-from-2019-to-2027-transparency-market-research-301078527.html
Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews of the electronic shelf label market across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to obtain the latest market insights and validate existing data and analysis. Primary interviews offer new and fresh information on important factors such as market trends, market size, competitive landscape,growth trends, etc. These factors help validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.
Global Electronic Shelf LabelMarket: Competitive Dynamics
The research study includes profiles of major companies operating in the global electronic shelf label market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Some of the key players in the electronic shelf label market are Altierre Corp., Displaydata Ltd., Pricer AB, SES-imagotag, E Ink Holdings, Inc., and Teraoka Seiko Co., Ltd. among others.