The electronic shelf label market is projected to gather noteworthy gains owing to its ability to offer improved operational efficiencies. These devices are mainly used in the retail sector that is increasingly edging towards automation.
With rapid retail automation, ESL could observe heavy demand in the forthcoming years. In addition, these labels help in expanding customer base with innovative marketing campaigns and displaying attractive pricing, further increasing customer engagement across retail outlets. ESLs can potentially improve the overall operational flow in supermarkets, hypermarkets and industries by offering centralized control of the entire system.
As of now, the electronic shelf label market is still in its developmental stage across numerous commercial stores and small-scale industries, as they are refraining from implementing these devices because of budgetary constraints. But as economic conditions improve and more people gain awareness about the benefits of the latest technologies, the ESL market could witness healthy growth over the coming years.
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ESLs possess the ability to improve overall operational flow in supermarkets, hypermarkets, and industries by offering a centralized control over the entire system. As of now, the ESL sector is still in its developmental stage across numerous commercial stores and small-scale industries, as these businesses are refraining from implementing new technologies owing to budgetary constraints.
However, with improving economic conditions and increasing awareness about the benefits of such devices, the ESL market could observe exponential growth over the forthcoming years. The electronic shelf label market may touch USD 2 billion by 2026.
The Middle East & Africa is considered to be a promising avenue for the electronic shelf label market, even though it is still in the nascent stage. The region has a rich presence of rapidly developing retail sector especially in Saudi Arabia and the UAE.
Proliferating population base coupled with supportive federal initiatives to promote the growth of the retail sector could massively enhance the growth prospects of the electronic shelf label market in MEA.
ESLs are used in both commercial and industrial sectors. The commercial sector is estimated to see healthy growth over the predicted timeframe as numerous supermarkets are concentrating on digitizing their entire infrastructure by integrating the benefits of traditional brick & mortar stores with online shopping.
For example, earlier in October 2019, Hanshow Technology and Auchan Retail extended their strategic relationship to develop advanced connected labeling systems to implement the solution across five million items present in seven nations. Factors like enhanced omnichannel experience and accurate pricing could also play a key role in stimulating the demand for ESLs in commercial facilities.
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Firms like E Ink Corporation provide segmented displays that are rugged and thin, making them ideal for routine use. Meanwhile, ADKOM Elektronik GmbH delivers segmented e-papers as customized services. Reflective technology, which is usually used in these, make ESLs readable.
Table of Contents (ToC) of the report:
Chapter 5 Electronic Shelf Label Market, By Technology
5.1 Key trends by technology
5.2 Radio Frequency (RF)
5.2.1 Market estimates and forecast, 2015 - 2026
5.3 Infrared (IR)
5.3.1 Market estimates and forecast, 2015 - 2026
5.4 Near Field Communication (NFC)
5.4.1 Market estimates and forecast, 2015 - 2026
5.5.1 Market estimates and forecast, 2015 - 2026
Chapter 6 Electronic Shelf Label Market, By Application
6.1 Key trends by application
6.2.1 Market estimates and forecast, 2015 - 2026
6.3.1 Market estimates and forecast, 2015 - 2026
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