Asia Pacific electronic shelf label market will grow at a high rate due to positively changing consumption patterns and economic development of countries including India and China. Development of retail industry in the region due to swelling sales of consumables will positively impact the growth of industry in the region. Also, expansion of business by the international retailers in the region is one of the major factors for the increasing demand of these products. For instance, in August 2018, Swedish furniture giant Ikea expanded its presence by opening a store in India.
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Increasing availability of automation solutions for the commercial sector has boosted the electronic shelf label market revenue, which surpassed USD 450 million globally in 2017 in conjunction with the growing number of retail outlets. Products such as groceries or seasonal fruits can witness price fluctuations while the stacking of new products also raises difficulties for retail staff to manage and update the pricing tags. The necessity to save time and energy spent for inventory management at stores with a large number of items has directed businesses towards the electronic shelf label market. ESLs not only allow for prices of various goods to be set quickly and simultaneously, but also offer accuracy and flexibility. The ever increasing customer base, the rising penchant for spending on consumables worldwide and the need for improving the bottom line of businesses will generate massive gains for the electronic shelf label market from the commercial segment over the coming years.
According to a key ESL manufacturer, replacing paper labels with the electronic ones could experience cost savings of up to 60%, while adopting a more responsive pricing method and creating a modern brand image. The electronic shelf label market will see tremendous demand from big supermarket and hypermarket companies for eliminating manual errors in updating prices, freeing up the staff’s time to increase productivity and to implement strategic pricing decisions. Groceries from a major part of everyday spending by billions of people around the globe, and supermarket chains undergo daily shelf rotation of essential items. In 2017, it was found that there were a total of 38,581 supermarkets in the U.S., indicating the growth potential for the electronic shelf label market.
The International Grocery Research Organization has projected that the global grocery retail market will be adding sales of nearly USD 2.7 trillion by 2022, driven by growing population and higher spending on grocery products. Subsequently, multinational hypermarket chains have targeted global expansion for catering to the incessant demand for groceries as well as non-food retail items. SPAR, for instance, has been able to build lean practices and supply chain networks, and has over 12,500 stores in 44 countries throughout 4 continents. The company has been known to use ESLs for guaranteeing efficient pricing integrity and reducing costs, while letting consumers take advantage of visible prices for all kinds of products. SPAR has demonstrated the immense benefits to be accrued from switching to ESLs for product display, inventory management and warehousing, propagating the scope of the electronic shelf label market for the commercial segment.
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Key players in the electronic shelf label market include Altierre, Advantech U.S., Dislaydata, CEST Ltd., Opticon, SES-imagotag, Samsung Electro-Mechanics, Wincor Nixdorf, Teraoka Seiko Co. Ltd., and SoluM. The vendors in the industry compete with each other on the basis of prices, quality, and innovation. These companies are increasingly focusing on expanding their offerings by investing in R&D. for instance, in January 2017, Displaydata launched Aura29F ESLs for the freezers in grocery stores. These products offer the benefit of operability under very low temperatures. To sustain the fierce competition, small players in the industry are entering consolidations with the large manufacturers.
Glimpse of Table of Content (ToC)
Chapter 5. Electronic Shelf Label Market, By Technology (Revenue, Shipments)
5.1. Key trends in ESL market by technology
5.2.1. Market estimates and forecast by region, 2013 – 2024
5.3.1. Market estimates and forecast by region, 2013 – 2024
5.4.1. Market estimates and forecast by region, 2013 – 2024
5.5.1. Market estimates and forecast by region, 2013 – 2024
Chapter 6. ESL Market, By Application (Revenue, Shipments)
6.1. Key trends in ESL market by application
6.2.1. Market estimates and forecast by region, 2013 – 2024
6.3.1. Market estimates and forecast by region, 2013 – 2024
6.3.2. Market estimates and forecast by commercial application, 2013 – 2024
188.8.131.52.1. Market estimates and forecast by region, 2013 – 2024
184.108.40.206.1. Market estimates and forecast by region, 2013 – 2024
220.127.116.11. Non-food retail
18.104.22.168.1. Market estimates and forecast by region, 2013 – 2024
22.214.171.124.1. Market estimates and forecast by region, 2013 – 2024
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