Electronic Shelf Label Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
The global market electronic shelf label is expected witness a steady growth in the coming few years. With the growth of the retail store segments across the globe, the demand for electronic shelf label is expected rise. The technological advancements in the retail industry has helped the global market to grow a great pace and is expected help the market to grow even further in the future.
The competitive landscape of the global electronic shelf label market is a fragmented one with the presence of several key players. However, it is expected that the degree of fragmentation will drop in the coming years of the forecast period. The leading players in the market are expected to concentrate on forming strategic partnerships and alliances for developing IoT based solutions to drive their growth.
Some of the leading names in the global electronic shelf label market include Teraoka Seiko Co. Ltd., SES-imagotag, Samsung Electro-Mechanics Co. Ltd., Opticon Sensors Europe BV, Pricer AB, LG Innotek, E Ink Holdings Inc., Displaydata Ltd., Altierre Corp, and Diebold Nixdorf Inc. among others.
There are several macro and microeconomic factors that are helping to push the development of the global electronic shelf label market. One of the key driving factors for the market growth has been growing implementation of the in-store technologies. The physical stores enable customers to physically try out products before buying. These stores are also providing great offers and discounts on their products to attract large sections of crowd. The growing competition with the online distribution channels are enforcing these stores to go toe to toe with their rivals. Naturally, this growing competition among the distributor channels is expected to work in favor of the development of the global electronic shelf label market. To provide a better and more improved customer experience as well as the management of the inventory, new in-store technologies are being deployed. Some of the popular ones are AR/VR, ESLs, and in-store assistance among others. The growing adoption of these new technologies are expected to help the growth of the global electronic shelf label market.
The global electronic shelf label market features a geographical landscape consisting of five key regions. These regions are North America, Asia Pacific, Middle East and Africa, Latin America, and Europe. Currently, the global electronic shelf label market has been dominated by the regional segment of Europe. The region is one of the biggest market for electronic shelf labels and is expected to provide extensive development opportunities to the market players for the development of the regional market. One of the key driving factor for the development of the Europe electronic shelf label market is the increasing concentration of several big retailers in the region. Moreover, the growing integration of the new in-store technologies such as self-service checkouts, smart shelves, and ESLs among others are also expected to play an important role in driving the growth of the electronic shelf label market in Europe.
Asia Pacific segment on the other hand is expected to show a great growth potential for the given period of forecast. The growth of the socio-economic segments in countries such as India and China are expected to open newer avenues for the vendors to generate more revenue. This is thus expected to help in the development of the market in the region.
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