Due to the growing retail industry and emergence of omni channel, global Electronic Shelf Label (ESL) Market is projected to grow considerably, according to Radiant Insights Inc.
Emergence of new technologies and automated ELS systems is an emerging trend in the Electronic Shelf Label (ESL) market. Likewise, increasing implementation of automation reduces the revenue leakage, ultimately affecting prices. This is majorly challenging Electronic Shelf Label (ESL) industry.
Electronic Shelf Label (ESL) market is categorized on the basis of product type, technology, application, and geography. On the basis of product type, market of Electronic Shelf Label (ESL) is divided into LCD ESL, full graphic E-paper ESL, and segmented E-paper ESL. Full graphic E-paper ESL segment is anticipated to lead the market due to longer battery life with low power consumption capacity. This offers wide viewing angles for consumers to easily read the tags on the bottom and top shelves.
In terms of application, Electronic Shelf Label (ESL) market is divided into commercial and industrial. Commercial segment is further divided into hypermarkets and supermarkets, non-food retail, and others. Industrial application segment is expected to old larger share of the market owing to the increased demand in industries for efficient material management and inventory tracking.
The global Electronic Shelf Label (ESL) market was valued at $632 million in 2017, and the analysts predict the global market size will reach $4820 million by the end of 2028, growing at a CAGR of 20.29% between 2017 and 2028.
For more information, please check Radiant Insights Inc.