Global Electronic Shelf Label Market Factors, Restraints, Opportunities, Trends, and Forecast

Electronic Shelf Label Market

Electronic shelf labels are tools used by retailers to display specific product pricing on shelves. The electronic display modules are attached to the retail shelving's front edge. Customers can see the product price on electronic shelf labels by using electronic paper (e-paper) or liquid-crystal displays (LCD). To meet the power of low cost and low power, ultra-low-power CPUs and wireless communication solutions are used with electronic shelf labels.

The global Electronic Shelf Labels Market was valued at US$ 464.6 Mn in 2018 and is expected to exhibit a CAGR of 12.9% over the forecast period (2019-2027) and reach US$ 1,309.3 Mn in 2027.

 The increased use of automation solutions will increase the adoption of electronic shelf labels (ESLs) across various types of retail stores, including hypermarkets, supermarkets, and specialty stores. The use of digital price tags in retail stores allows for dynamic and omnichannel pricing. By reducing labour inputs, the use of electronic shelf labels (ESLs) eliminates manual operations.

Electronic shelf labels are becoming more popular. For example, Panasonic launched the all-new electronic shelf labeling (ESL) solution in September 2019, allowing retailers to wirelessly update content on shelving signages quickly and efficiently. Panasonic ESL's unique technology provides secure data transfer via an encrypted radio connection at the touch of a button. It enables retailers to change prices in real-time, monitor product information, showcase promotional discounts, reduce pricing errors, respond to customer traffic patterns, and reduce waste by implementing seamless promotional pricing changes for perishable goods. This ESL solution is used to display competitor prices, social reviews, product ingredients, source of origin, automated currency conversion, inventory levels, and other important retail features to the clients It receives product updates and price changes from brands via a pricing server powered by Panasonic software.

A competitive landscape based on a thorough examination of the key strategies implemented by the leading market participants in the Electronic Shelf Label Market over the last four years. Teraoka Seiko Co., Ltd. (Japan), Displaydata Limited (United Kingdom), M2COMM (Taiwan), Mariella Labels OY (Finland), Opticon Sensors Europe B.V. (Netherlands), Pricer AB (Sweden), RAINUS Co., Ltd. (South Korea), SES-imagotag SA (France), SoluM Co., Ltd. (South Korea), Store Intelligence Inc. (Taiwan).

 

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