SEATTLE, April 21, 2021 (GLOBE NEWSWIRE) -- Electronic shelf labels are labels that are printed and attached directly to a shelf or a unit. These are helpful in various situations including shelf pricing, inventory control, point of sale management, and promotion of new products. An electronic shelf label system enables retailers to efficiently display product information on various shelves. The product information is automatically updated when a new price is established at a central control station. Generally, electronic display units are attached directly to the back edge of retail shelving for easy access to shelf prices. There are different types of electronic shelf labels available for different requirements of retailers. Some of these types include radio-frequency identification (RFID), Bar code, hologram, and sticker systems. Retailers can use these tags in various shelf spaces such as the sales floor, displays, customer service, cold storage, and kitchen areas. It helps retailers to track the inventory, sales, and costs and to determine the product price and discounts offered. Sticker systems and RFID tags can be used to display product prices at the point of sale.
The global electronic shelf labels market is estimated to account for 1,309.3 Mn by the end of 2027.
Market Drivers:
- Rising requirements for electronic shelf labels enabled inventory management is expected to augment the growth of the global electronic shelf labels market
- Growing efforts of retailers in offering advanced in-store consumer experience are expected to drive the growth of the global electronic shelf labels market
Market Opportunities:
An increasing amount of retail stores across the world is expected to create diversified opportunities in the global electronic shelf labels market. For instance, according to Etailinsights, there are around 7.9 million retailers across the globe, among which around 2.1 million are from the United States. These retailers have reached heights in various sectors starting from luxury to basic needs.
The growing consumerism and inclination towards physical shopping are expected to develop significant opportunities in the global electronic shelf labels market. For instance, according to SelectUSA Investment Summit, the United States has the largest consumer market on the earth with a GDP of around US$ 20 trillion and around 325 million individuals. To maintain such a large consumer base advanced store management facilities are highly required.
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Market Trends:
The rising popularity of the Internet of Things (IoT) in stores is expected to create traction for the global electronic shelf labels market
In-store IoT is expected to gain popularity in the future. For instance, in January 2020, SES-imagotag and QUALCOMM Technologies International Limited partnered and through this collaboration, the companies are aiming to develop enhanced high perform and ultra-low [power security connectivity solutions in order to support the adoption of the Internet of Things in retail stores.
The increasing inclination of retailers towards retail automation processes is expected to become a prominent trend in the global electronic shelf labels market
In-store automation processes allow the retailers to provide a seamless experience to consumers and differentiate themselves from other competitors. For instance, in August 2018, Bauhaus opted for Displaydata for a project related to electronic shelf labels at its retailing store, which is situated in Tilst, Denmark. By using the Displaydaya solutions, Bauhaus, which is a global hardware chain, will be able to change the pricing process and also amplify its operational efficiency.
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Competitive Landscape:
Key players operating in the global electronic shelf labels market include NCR Corporation, SoluM Co. Ltd., Panasonic Corporation, Clearink Display, Diebold Nixdorf, Altieer Corporation, Displaydata Limited, E Ink Holdings, Samsung Electro-Mechanics, SES-imagotag, and Pricer.
In July 2020, E Ink Holdings collaborated with Yiwu Qing Optoelectronic on an e-paper project.
In September 2019, Ahold Delhaize and Hanshow Technology partnered to launch digital in-store applications for Ahold's European brands.
Market segmentation:
Global Electronic Shelf Labels Market, By Technology Type:
- RF
- IR
- NFC
Global Electronic Shelf Labels Market, By Product Type:
- LCD
- Full graphic e-paper ESL
- Segmented e-paper ESL
Global Electronic Shelf Labels Market, By End Use:
- Supermarket and hypermarket
- Convenience stores and departmental stores
- Others
Global Electronic Shelf Labels Market, By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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