The global electronic shelf label industry is projected to rise in the coming years, due to rapid digitalization and automation in the retail industry with substantial profits, and less time consumption. Along with this, real-time product positioning, rising demand for increased functional efficiency, and price optimization in retail stores proliferate industry growth.
Under the product type segment, the industry is divided into full-graphic E-paper, liquid crystal display (LCD), and segmented E-paper. Among these, the full-graphic E-paper captures the largest industry share, and it is projected to experience the fastest growth in the near future. It is led by the high energy efficiency of full-graphic E-paper ELSs and their capability to project graphical objects.
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NFC technology has emerged as an additional feature in numerous smartphones and point of sale (POS) devices. The rising integration of the NFC in the handheld devices such as smartphones enabling faster transactions at the point-of-sale results in increased demand for NFC-enabled ELSs.
North America captures the largest share of the industry, owing to the rising demand for technology among the expansive retail store chains, including Wal-Mart, in the region. Moreover, the favorable government initiatives that encourage automation products integration, and increase technological development in the retail industry are projected to retain their dominance in the industry in the near future.
The centralized control facilitates easy updates, time-saving, and reliability. Therefore, numerous retailers are adopting ESL systems to stay on the competitive end, thus fueling industry growth.
The major players operating in the industry are Pricer AB, Samsung Electro-Mechanics Co. Ltd., E Ink Holdings Inc, Altierre Corporation, CLEARink Displays Inc., Diebold Nixdorf Incorporated, and Displaydata Limited.
Therefore, the rising adoption of the electronic shelf label is led by the ease of convenience it provides retailers in updating the information, and managing the retail store operations, as well as large warehouses.
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