Global electronic shelf label market to grow at a CAGR of 15.07% during the period 2018-2022.
The report covers the present scenario and the growth prospects of the global electronic shelf label market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of electronic shelf label.
The latest trend gaining momentum in the market is growing affordability of retailers. Factors such as flexibility, low power consumption, and low price of ESLs are increasing the affordability for the retailers. Retailers are increasingly demanding for low-cost LCD ESLs due to its low power consumption and bi-stable features. E-paper is gaining prominence as it provides crisp display and supports full graphic imaging. Moreover, this product also works on the communication network that displays the updated price in real-time.
One of the major drivers for this market is increase in number of retail outlets. Major retailers such as Carrefour, Metro, Tesco, and Walmart are focusing on expanding their operations in countries in Africa and APAC. Geographical expansion aids the retailers in acquiring more market presence and shares. Carrefour has already entered a joint venture with CFAO to expand its market operations in several countries. Another prominent player, Seven-Eleven is concentrating on expanding its stores in the US. With the focus of these retailers to expand their geographic reach, the demand for electronic shelf labels will increase in the coming years.
Intense competition and rapid technological changes impact the performance of the vendors in the digital price labels market. To sustain the competition, the small players are steadily entering in consolidations with the large players.
Growing demand for smart ESLs
Increasing affordability factor for retailers
Increasing partnership programs for ESL distribution