Dublin, Jan. 25, 2021 (GLOBE NEWSWIRE) -- The "Electronic Shelf Label Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Components; Product Type; Store Type; Communication Technology; and Geography" report has been added to ResearchAndMarkets.com's offering.
Hypermarkets Segment Support Electronic Shelf Label Market Growth During 2020-2027.
The market was valued at US$ 464.7 million in 2019 and is projected to reach US$ 1577.6 million by 2027; it is expected to grow at a CAGR of 16.9% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.
Retailers use the electronic shelf label system for displaying product pricing on shelves. This system has benefits such as product pricing are automatically updated whenever a price is changed from a central control server. Hence its gaining popularity and boosting the need for the electronic shelf label market. The rising number of the supermarket, specialty store, and hypermarket are raising demand for the electronic shelf label market. The US, China, Germany, France, and Japan are five major countries contributing to the highest revenue share in the electronic shelf label market.
Some of the factors stimulating the market for electronic shelf labels include an increasing number of supermarkets, malls, stores, and others, reducing labor availability, and trending retail automation demands. However, high charges of installation and supporting infrastructure needed for the system is a key challenge that is restraining the growth of the electronic shelf label market.
As the system has a low maintenance cost, the retail industry has proved the system effectively beneficial for retailers, which creates a big opportunity for the market player of the electronic shelf label system market. Also, integration of Industry 4.0 and the emergence of advanced technologies for ESL, such as battery-free solutions and ePaper with multicolor, are anticipated to be positive for the electronic shelf label market.
LabelNest, Diebold Nixdorf Incorporated, Displaydata Limited, E Ink Holdings Inc. M2Communication, NZ Electronic Shelf Labelling, Opticon Sensors Europe BV, Pricer, Samsung Electro-Mechanics, Ses-Imagotag, and Teraoka Seiko are among the key players operating in the electronic shelf label market.
Impact of COVID-19 Pandemic on North America Electronic Shelf Label Market
North America has the highest adoption and growth rate of new technologies owing to favourable government policies to boost innovation and strengthen the infrastructure capabilities. Hence, any impact on industries is expected to affect the economic growth of the region in a negative manner. At present, the US is the world's worst affected country due to COVID-19 outbreak; thereby, influencing the high adoption of online shopping across the country.
It is becoming apparent with the COVID-19 pandemic spreading across the US that few can escape its scope, presenting significant challenges to all industries. The close down of all retail outlets by the government authorities coupled with the social distancing norms laid down by them is affecting the investments by retail outlets. For instance, the sales of online grocery segment across the US, recorded an increase by 210.1% due to the pandemic. Thus, the above-mentioned factors are adversely affecting the electronic shelf label market over the years.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Electronic Shelf Label Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Electronic Shelf Label Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Rapid adoption of game-changing technologies across the retail - value chain
5.1.2 Upsurge in the use of IoT within retail industry
5.2 Key Market Restraints
5.2.1 High Capital Expenditure Value
5.3 Key Market Opportunities
5.3.1 Integration of Industry 4.0 for automation and smart management
5.4 Future Trend
5.4.1 Emergence of battery-free solutions
5.5 Impact Analysis of Drivers and Restraints
6. Electronic Shelf Label Market - Global Market Analysis
6.1 Global Electronic Shelf Label Market Overview
6.2 Global Electronic Shelf Label Market Forecast and Analysis
6.3 Market Positioning - Top Five Players
7. Electronic Shelf Label Market Analysis - By Component
7.2 Electronic Shelf Label Market Breakdown, By Component, 2019 & 2027
8. Electronic Shelf Label Market Analysis - By Product Type
8.2 Electronic Shelf Label Market Breakdown, By Product Type, 2019 & 2027
8.3 LCD ESL
8.4 E-paper based ESL
9. Electronic Shelf Label Market Analysis - By Store Type
9.2 Electronic Shelf Label Market Breakdown, By Store Type, 2019 & 2027
9.5 Non-Food Retail Stores
9.6 Specialty Stores
10. Electronic Shelf Label Market Analysis - By Communication Technology
10.2 Electronic Shelf Label Market Breakdown, By Communication Technology, 2019 & 2027
10.3 Radio Frequency
10.5 Near Field Communication
11. Global Electronic Shelf Label Market - Geographic Analysis
12. Impact of COVID-19 Pandemic on Electronic Shelf Label Market
12.2 Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Market Initiative
13.2 New Development
14. Electronic Shelf Label Market - Company Profiles
Diebold Nixdorf Incorporated
E Ink Holdings Inc
NZ Electronic Shelf Labelling
Opticon Sensors Europe BV
For more information about this report visit https://www.researchandmarkets.com/r/adlgdh
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