![]() ![]() The electronic shelf label market is segmented into Product Type, Display Size, Component, Communication Technology and Store Type.īy product type, the market is categorized into LCD, segmented e-paper, and full-graphic e-paper. However, it is expected that the market will recover from 2021 and remain in the growth stage during the forecast period. Key players operating in the electronic shelf label industry temporarily witnessed a slowdown, owing to lack of availability of skilled professional to develop electronic shelf label market solutions, which has led to decline in revenues for the financial year 2020 to 2021. Economic impact of the pandemic has been disruptive. Furthermore, the outbreak of the pandemic has disrupted the global supply chain, thereby creating significant gap in supply chain. Considering the inputs from various industry experts belonging to the various stages of the value chain, such as OEMs, suppliers, integrators, end users, and distributors, and the financial release of various companies in the electronic shelf label ecosystem, it is calculated that the market has experienced a decline during 2019–2020. With governments of several nations imposing and extending lockdowns, production and manufacturing facilities across the globe have been shut down, owing crisis and unavailability of workforce. The electronic shelf label market has been severely impacted by the outbreak of the COVID-19 pandemic. Moreover, low return on investment is expected to impede growth of the electronic shelf label market size. However, high expenses of installation and infrastructure cost restrain the electronic shelf label market growth. In addition, increased operational efficiency with real-time product positioning, owing to utilization of electronic shelf labels boosts the growth of electronic shelf label market size. Moreover, necessity for more cost-efficient and less time-consuming alternatives to paper labels fuel the market growth. Trending automation in the retail industry is the key factor that drives growth of the electronic shelf label market. ![]() Furthermore, each electronic shelf label (ESL) system has LCD or e-ink display that shows the price and universal product code (UPC) of the product. Once applied to the shelves, it directly connects to the store's ERP and point of sales (POS) to reduce pricing management labor costs, improve pricing accuracy, and enable dynamic pricing. Typically, ESLs are attached to the front edge of retail shelving. The global electronic shelf label market was valued at $825.1 million in 2021, and is projected to reach $3.5 billion by 2031, growing at a CAGR of 15.5% from 2022 to 2031.Įlectronic shelf label (ESL) also known as digital price tags, are digital wireless display systems that retail stores use to show product prices. ![]()
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