Electronic Shelf Label Market to garner USD 1.08 Billion with almost 21% CAGR during 2021-2025: Technavio
NEW YORK, March 25, 2021 /PRNewswire/ -- The electronic shelf label (ESL) market is expected to post a CAGR of almost 21% during the period 2021-2025, according to the recently published market research report by Technavio. This report offers a detailed analysis of key factors responsible for the current and potential growth of the market. Furthermore, it provides extensive, value-driven data insights pertaining to electronic shelf label market aiding customers to make informed business decisions.
Prominent Takeaways from this Report
- Rising adoption of in-store technologies will drive market growth.
- Radio frequency segment to witness highest technology share in the electronic shelf label market.
- 49% of the market growth will originate from Europe with France and Germany holding the largest country share.
- Electronic shelf label market is highly competitive and fragmented with vendors deploying innovative strategies to continue maintaining and expanding their customer base.
- The market is anticipated to have positive & superior impact due to the COVID-19 pandemic.
View Technavio's 120-page research report with ToC on "Electronic Shelf Label Market by Technology (radio frequency, infrared, and others), Product (LCD ESL, full graphic e-paper ESL, and segmented e-paper ESL), End-user (supermarkets and hypermarkets, CDM, and DPO), and Geography (Europe, APAC, North America, MEA, and South America) and Vendor Forecasts, 2021 - 2025"
https://www.technavio.com/report/electronic shelf label-market-industry-analysis
Electronic Shelf Label Market: Driver and Trend Analysis
The implementation of in-store technologies will drive the growth of electronic shelf labels market. Several physical retail stores are adopting in-store technologies including smart shelves, ESLs, AR/VR and in-store assistants. This helps them in enhancing the customer experience and improving inventory management. In addition, various brands are installing ESLs in their physical stores to reach out to a larger target audience and enhance the customer experience.
The increasing adoption of smart shelves will emerge as one of the key market trends. Retail operators are increasingly adopting smart shelves for minimizing labor costs. In addition, these shelves also enable efficient inventory management by sending timely notifications on their connected mobile devices. The smart shelves integrated with ESLs, 3D cameras, weight sensors, LED sensors and other devices further help in displaying real-time product information. This will further drive the market growth during the forecast period.
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Electronic shelf label Market: Segmentation Analysis
This market research report fragments the global electronic shelf label market by technology (radio frequency, infrared, and others), product (LCD ESL, full graphic e-paper ESL, and segmented e-paper ESL), end-user (supermarkets and hypermarkets, CDM, and DPO), and geography (Europe, APAC, North America, MEA, and South America).
The radio-frequency technology segment held the largest electronic shelf label market share in 2020. The key reason for the surging adoption of radio frequency technology in electronic shelf labels is its ability to not require line of sight. This aids in minimizing the cost of infrastructure and enabling the ESLs to transfer uninterrupted data.
In terms of geographical analysis, 49% of the market's growth will originate from Europe during the forecast period. The increasing number of retail stores and the integration of in-store technologies, particularly, among the end-user industries in France and Germany will attribute to the region's growth during the forecast period.
Electronic Shelf Label Market: Vendor Analysis
The electronic shelf label market is highly competitive and fragmented. Several players in the market striving to provide superior products by differentiating them either based on quality or service. Vendors are deploying various organic and inorganic growth strategies to survive market competition. This report classifies key market players as dominant, pure-play and industry-focused players to offer effective investment opportunities and allow clients to make informed decisions. Prominent electronic shelf label market players include:
- Diebold Nixdorf Inc.
- Displaydata Ltd.
- E Ink Holdings Inc.
- LANCOM Systems GmbH
- LG Innotek
- Opticon Sensors Europe BV
- Pricer AB
- Samsung Electronics Co. Ltd.
- SES-imagotag
- Teraoka Seiko Co. Ltd.
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Electronic Shelf Label Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist electronic shelf label market growth during the next five years
- Estimation of the electronic shelf label market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the electronic shelf label market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of electronic shelf label market vendors
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