Electronic Shelf Label (ESL) Market
is expected to display higher growth rate in the upcoming years. Rapid surge in
the market is credited to the growing implementation of smart label
identification methods over conventional labeled identification method. Other
factors responsible for sustained growth of smart label market include cost
effectiveness and wide accessible range of the products. Globally, market is
predicted to generate massive revenue over the forecast period, providing
numerous opportunities for industry participants to invest in research and
development of electronic shelf label.
Increasing preference for IoT technology in the retail
sector is considered as the key industry trend associated with electronic shelf
label market over the past few years. The rising demand of smart labels from
various sectors such as hospitals, surgical clinics, treatment centers, and
various labs, in order to achieve precise results and consistent performance is
driving the market growth. Increasing popularity of electronic labeling
technique among end-users is one of the major driving factors for the expansion
of the smart label market, in the recent years.
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An electronic shelf label (ESL) is designed to store,
monitor, and transmit digital information that helps in reducing overall
tracking time. Electronic shelf label (ESL) helps to minimize human
intervention and errors during various industrial process, owing to their
high-end precision and efficiency. The electronic shelf label (ESL) offers
advanced solutions for challenges such as theft and shoplifting faced by
retailers and manufacturers by delivering anti-theft and anti-counterfeit
system.
The electronic shelf label market is divided based on
product type that include Liquid crystal display ESL tags, electronic paper
(E-paper) and full graphic E-paper ESL. Market is broadly categorized into
major segments based on the application type such as supermarkets &
hypermarkets, departmental stores, convenience stores, and drugstore.
Supermarkets & hypermarkets segment is growing rapidly in the market with
substantial revenue generation in the last few years.
The electronic shelf label (ESL) market is divided by region
as North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in implementation of
latest technologies in retail sector, surge in number of research &
development activities and existence of well-established industrial
infrastructure in the region. In European region, Germany, France, and United
Kingdom are projected to witness steady growth over the coming years.
The key players in the electronic shelf label (ESL) market
are SES-imagotag Co., Teraoka Seiko Co., Ltd., Pricer AB, LG Innotek, E Ink
Corp., M2Communication, Inc., Displaydata ltd., Wincor Nixdorf International
GmbH, CEST, Inc., Altierre Corp., and SoluM Co., Ltd.
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