The Electronic Shelf Label report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. 360 Market Updates adds Global Electronic Shelf Label Market 2020 report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.
Global “Electronic Shelf Label Market” Report 2020 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Electronic Shelf Label in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India.Electronic Shelf Label Market report categorizes the market based on manufacturers, regions, type, and application. Electronic Shelf Label Market reports offer a detailed assessment of the Electronic Shelf Label including enabling technologies, current market situation, market assumptions, restraining factors.
The Global Electronic Shelf Label market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
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 20182023. 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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