Changing lifestyle, growth, and development in the retail industry resulted in higher demand for store automation, which gradually increased the demand of electronic shelf label.
Sarasota, FL -- (SBWIRE) -- 05/12/2017 -- Zion Market Research, the market research group announced the analysis report titled "Electronic Shelf Label Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Electronic Shelf Label Market: Overview
Electronic shelf label system is used in the retail store to improve work efficiency, reduce labor expenses, and increase retailer's profit margin. It eliminates the manual work of changing pricing labels of the products on shelves. The electronic shelf label automatically updates the pricing labels. It has brought major changes in the retail stores and has improved the overall management process. It uses liquefied-crystal display or electronic paper to display product prices to the customer. This system uses wireless communication networks, which includes infrared technology and radio for communicating with the backend database. Electronic shelf label allows dynamic pricing which allows the retailers to alter the pricing of the products in order to match increasing demand, product promotions, inventory levels, and to achieve the competitive advantage. It assists in eliminating variations in the selling price and offers most reliable pricing to the customers. It improves the operational efficiency of the store by eliminating the need of checking and updating the paper labels.
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Global Electronic Shelf Label Market: Growth Factors
Changing lifestyle, growth, and development in the retail industry resulted in higher demand for store automation, which gradually increased the demand of electronic shelf label. The other benefits of using electronic shelf label are it is cost-efficient, fast, and secures the price labeling. Changing the focus of the retailers regarding improving customer experiences for reliable and accurate pricing is anticipated to boost the market. The electronic shelf label market is supported by increasing need for fast and flexible price updating of the products. Increasing deployment of the electronic shelf labels in the retail store triggers the market growth. Rising acceptance of the electronic shelf label system across the world offers new growth opportunities for the electronic shelf label market.
Global Electronic Shelf Label Market: Segmentation
The electronic shelf label market is globally segmented into the component, technology, type, and store type. The component consists of transceivers, displays, microprocessors, batteries, and others. On the basis of technology, the market is classified into infrared, near-field communication, radio frequency, and others. The type segment includes full-graphic E-paper ESLs, LCD ESLs, and segmented E-paper ESLs. Furthermore, the store type is fragmented into specialty stores, supermarkets, hypermarkets, non-food retail stores, and others.
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Global Electronic Shelf Label Market: Regional Analysis
Europe contributed for the largest market share in the electronic shelf label market owing to the presence of major electronic shelf label manufacturers. The massive growth of the market in the North American region is attributed to the rise in the numbers of retail stores and hypermarkets. Product innovation and the introduction of new technology attract new customers, which is fuelling the electronic shelf label market in this region. Asia-Pacific region is expected to grow at fastest rate in the near future as electronic shelf label reduces the labor cost and enhances the accuracy of price labeling.
Global Electronic Shelf Label Market: Competitive Players
Prominent players in the global electronic shelf label market include E Ink Holdings, Inc., Pricer AB, RSJ Software GmbH., Samsung Electronics Co., Ltd., Black Label Solutions, Immediad Group, and troniTAG GmbH. Other players influencing the global market are Displaydata Ltd., Cicor Technologies, implexis GmbH., Opticon, Inc., Store Electronic Systems S.A., and CSY Retail Systems Ltd.
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Global Electronic Shelf Label Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa