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Electronic shelf label (ESL) Market 2021 Industry Analysis by Manufacturers, End-User, Type, Application, Regions and Forecast to 2030

Electronic shelf label (ESL) market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the electronic shelf label (ESL) market by region.

The global electronic shelf label (ESL) market is anticipated to grow at a CAGR of 20.9% during the forecast period 2019-2025.

A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market Electronic shelf label (ESL). 

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2030. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

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Overview

The global electronic shelf label (ESL) market is projected to witness significant growth during the forecast period. In terms of responding better to the increasing competition from the online retail channels’ traditional retailers (i.e.’ brick-and-mortar) are focusing on developing strategies that utilize the cutting-edge technologies (IoT) to close the gap’ specifically arising from the difference between store price and online price. Closing the price gap in real time will remain a key factor contributing to the growth of the global electronic shelf label market during the forecast period. Other factors contributing to the growth of the market include increasing focus on real-time price automation in retail stores’ optimizing the retail workflow’ government regulations on commodity pricing’ and rising labor cost. The brick-and-mortar retail segment is witnessing a major shift toward digital technologies to offer superior shopping experience to the customers. The retailers are focusing on expanding their IT capabilities that offer seemingly enhanced shopping experience for customers right from the product identification to the contactless payment.

Additionally’ the companies operating in the retail sector’ particularly in developed economies’ are mandated to meet certain guidelines and standards to eliminate the misleading product price and other information of the product’ which is further accelerating the demand for electronic shelf labels.
Electronic shelf label (ESL) is a technology solution predominantly used in retail settings to display and modify the price of items in the store with limited human intervention. The electronic shelf label system makes use of the IoT technology’ which automatically reflects the information/data when there are any changes made in the central server.

Market Revenue and Segmentation Analysis

The global electronic shelf label (ESL) market is anticipated to grow at a CAGR of 20.9% during the forecast period 2019-2025.
The global electronic shelf label market is segmented based on product type’ component’ end-user type’ and region & country. In terms of the product type’ the market is segmented into LCD electronic shelf label and e-paper electronic shelf label. The e-paper electronic shelf label was the dominant segment in 2018 and is projected to remain dominant during the forecast period; anticipated to register a CAGR of 22.2% during the forecast period 2019-2025. By component’ the global electronic shelf label market is segmented into software and services. The services segment includes professional service’ software’ and maintenance. In terms of end-users’ the market is segmented into hypermarket/supermarket’ departmental/convenience stores’ electronics & appliance and home furnishing stores’ specialty stores’ and others.

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Regional Analysis

In 2018′ Europe was the dominant region in the global electronic shelf label market followed by the Americas. Asia Pacific is identified as the fastest growing region in the electronic shelf label market’ i.e.’ CAGR of 29.0% during the forecast period 2019-2025. This is mainly due to rapid urbanization and expanding retail sector along with the increasing adoption of digital technologies’ such as IoT’ by vendors operating in the brick-and-mortar retail segment.
The report also covers the country-wise analysis of the ESL market across various regions including the Americas’ Europe’ Asia Pacific’ and Middle East & Africa (MEA).

Benefits and Vendors

The report contains an in-depth analysis of vendors’ which includes financial health’ business units’ key business priorities’ SWOT’ strategies’ and views; and competitive landscape. Few of the key players profiled in this study include SES-imagotag’ Pricer AB’ LG INNOTEK’ Displaydata Limited’ Teraoka Seiko Co. Ltd. (DIGI)’ SoluM’ Hanshow’ Altierre’ Opticon’ and SUNPAI INDUSTRIES LIMITED.
The study offers a comprehensive analysis of the “global electronic shelf label market”. Bringing out the complete key insights of the industry’ the report aims to provide an insight into the latest trends’ current market scenario’ and technologies related to the market. In addition’ it helps the venture capitalists to understand the revenue opportunities across different segments to take better decisions.

Region/Country Cover in the Report

Americas’ Europe’ Asia Pacific’ and Middle East & Africa (MEA)

Key Players Covered in the Report

SES-imagotag’ Pricer AB’ LG INNOTEK’ Displaydata Limited’ Teraoka Seiko Co. Ltd. (DIGI)’ SoluM’ Hanshow’ Altierre’ Opticon’ and SUNPAI INDUSTRIES LIMITED

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What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

Factors Influencing

The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has affected almost every industry. The market witnessed a significant decline in investments, mainly in the energy and power sector. According to the estimations by the International Energy Agency, investments in the energy and power domain are projected to decrease by 10% in 2020 as compared to the pre-pandemic statistics. This indicate the condition of global marketplace along with severe challenges faced during pandemic.

Regional Analysis

Asia-Pacific market is forecast to emerge as rapidly growing region in global market, owing to governments’ initiatives towards increasing urbanization and growing population leading to increasing demand of energy-based products and services. Also, North America is forecast to grow rapidly because of high energy consumption in the region and technological advancements across the sector. Energy consumption has been increasing in the region, mainly in the US; the primary energy consumption is segmented on the basis of nuclear electric power, petroleum, coal, renewable energy, and natural gas. The petroleum and natural gas segment is dominating the overall sector. In the mix of energy sources, petroleum accounts for around 35% of the overall consumption, whereas natural gas accounts for 34%.

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