Electronic Shelf Label Market 2021 Size with Global Demand Analysis and Business Opportunities Outlook 2030

In a recent published report, Kenneth Research has updated the market report for Electronic Shelf Label Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Electronic Shelf Label Market products.

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Factors such as the growing trade of semiconductors for use in different consumer electronic products, along with the growing trend of automation and IoT, which is raising the need for the deployment of advanced electronic chipsets, therefore the advancement in the trade of semiconductors. According to the statistics by World Semiconductor Trade Statistics (WSTS), semiconductor billings around the globe per 12 months rolling average increased from around USD 250 billion in the year 2010 to around USD 460 billion in the year 2019.

Global Electronic Shelf Label Market: Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025
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.

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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 Market
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.

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.

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