Electronic Shelf Label Market Research Report 2020 provides key analysis on the market status of the Electronic Shelf Label manufacturers with market size, growth, share, trends as well as industry cost structure. The study objectives are to present the Electronic Shelf Label development in United States, Europe and China.
Global “Electronic Shelf Label Market 2020-2023” has been providing up and changing the worldwide economy as far as growth rate, revenue, deal, market proposition, and scope. The Global Electronic Shelf Label market Consumption market report is an extensive analysis of this corporate field, which has been established to be one of the most profitable business verticals in futures. The Reportspecifies the complete estimate of Global Electronic Shelf Label market business terms, in addition to presenting a brief segmentation of the industry, the expansion opportunities, as well as Key region.
Top-Listed Playersin Electronic Shelf Label Market Research Report 2020-2023
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Overview of Electronic Shelf Label Market:
The electronic shelf label market was valued at USD 397.22 million in 2017 and is expected to reach a value of USD 1.24 billion by 2023 at a CAGR of 21.03% over the forecast period of 20202023. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.Electronic shelf label is a system where the commodity information is electronically displayed and updated. It is essentially a digital price tag, which is deployed by the retailers in stores to present relevant information to customers. It is integrated into a communication network with the additional functionality to edit prices and information on the tag instantaneously, by operating wirelessly. Information displayed by the ESLs are barcodes, unit cost, and real-time pricing among a host of other information. Spurring demand for automation products in the retail industry to make up for the rising cost of manual labor is the key driver for the global electronic shelf label market. The growing world population had reached 6.2 billion in 2016, and retail sales in this market have increased by 350% since 2001. ESLs help in smoothening the process of retail sales. The stringent regulations set by the government for accurate product pricing influences the retailers looking for the ESL systems. They also provide a decent return on investment as they cause a significant reduction in the labor costs for the store owners in the developed regions.On the contrary, the developing nations have a huge supply of unemployed population, which reduces the labor costs, thus negating the urge to spend on quality automation techniques to reduce workload. Pricing errors due to technical glitches or negligence are much more plausible in real-time. Also, the requirement of high initial investment to deploy the technology has hampered the rapid growth of the ESL market.Higher Initial Investments CostsAutomation of businesses requires high capital as there are multiple costs involved, such as equipment cost, service and installation cost, and maintenance costs. Retailers have to spend large amount of money to automate their business processes. Furthermore, as these systems come with additional costs, such as electricity and internet connectivity, it has become hard for small businesses to adopt this technology. Small-time retailers form a major share of the market. It is estimated that the small local retailers contribute more than 50% to the total sales in developing regions across the world. The small retailers are mostly local businesses, which operate from a single store rather than a chain or franchises. These small-time players have limited cash flow, hence, the high cost of installing this equipment is a huge barrier to overcome for these players. Developing regions prefer to employ daily labor services for menial tasks to make up for the lack of technology. The retail players existing in the market, without significant knowledge of the technology, are not aware of the advantages offered by these systems and how they can utilize it. Low adoption of automation by these small businesses is standing as a barrier to the growth of this market.Controllers and Trip Relays Generate Potential for Emergency Shutdown SystemsHypermarkets and supermarkets dominated the overall ESL market share owing to the high inclination towards automated equipment and products. The segment consists of extensive retail facilities that sell a wide range of products under one roof including full grocery lines and general merchandise. The steady rise in these stores is mainly due to the expansion of retail outlets in the last decade. The increasing demand for retail automation in countries, like Russia and Turkey, is driving the adoption of ESLs in supermarkets and hypermarkets. The concept of ESLs is spreading through Europe as well as the United States. German hypermarket Chain Kaufland Group announced in August 2016, that it would begin to display electronic shelf labels across its stores nationwide. The company has over 650 stores and is part of the Schwarts Gruppe, which also owns the well-known value grocery store Lidl. It had teamed up with the United Kingdom tech company Displaydata, to provide the ESLs.North American Dominated the MarketNorth America is the largest market for electronic shelf labels globally. The huge market in this region can be attributed to the vast presence of retail stores, both small and big, across the region. The region has been led by retail giants, such as Wal-Mart, driving the upsurge in activity, largely contributing to the market growth in the region.The United States has been one of the largest logistics markets in the world. The country is on the verge of a fourth industrial revolution where data is being used on an extensive scale for production, and is being integrated with a wide variety of manufacturing systems throughout the supply chain. ESLs are one among a bunch of other technologies that will improve performance efficiency of store operations. Domestic manufacturing, government initiatives toward automated technology, and technological innovation in information technology are the factors driving this market in North America.
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Key Highlights from Electronic Shelf Label Market Report 2020.
Revenue and Sales Estimation — Historical Revenue and sales volume is presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well recognized Types and end-use industry. Additionally, macroeconomic factor and regulatory policies are as curtained in Electronic Shelf Label industry evolution and predictive analysis.
Manufacturing Analysis —the report is currently analyzed concerning various product type and application. The Electronic Shelf Label Market provides a chapter highlighting manufacturing process analysis validated via primary information collected through Industry and Key officials of profiled companies.
Competition — Leading players have been analyzed depending on their company profile, product portfolio, capacity, product/service price, sales, and cost/profit.
Demand and Supply and Effectiveness — Electronic Shelf Label Market report additionally provides distribution, Production, Consumption for the complete industry.
Electronic Shelf Label MarketTop Regions(regional analysis covers):-
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Electronic Shelf Label Market 2020 Report Brief:-
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