Electronic Shelf Labels Market Size Trends And Growth Analysis
Electronic shelf labels Market Companies provide real-time product and pricing information directly on shelves and racks. They allow retailers to change pricing remotely without any manual intervention, thus saving time and costs. ESLs also help improve inventory management by integrating with inventory management systems to keep pricing and product availability information updated accurately on shelves.
The global electronic shelf labels market is estimated to be valued at US$ 1381.21 Mn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the electronic shelf labels market are SES-Imagotag, Pricer AB, Displaydata, Opticon Sensors Europe B.V, Samsung Electro-Mechanics, NZ Electronic Shelf Labelling, M2Communication, Diebold Nixdorf, Altierre, Teraoka Seiko, Advantech US, E Ink, Toshiba Global Commerce Solutions, SESimagotag, E-Ink, Wuxi Wei Feng Technology, and Cicor. The market provides significant opportunities such as improved inventory management, streamlined operations, higher ROI, enhanced customer experience, and flexible pricing options. The increasing adoption of ESL solutions across regions such as Europe, Asia Pacific, and North America is expected to drive the global expansion of the electronic shelf labels market over the forecast period.
Market Drivers
The Electronic Shelf Labels Market Trends systems integrate with inventory management software to keep shelves and inventory data in sync. This allows retailers to maintain accurate store shelves and avoid situations of stock-outs or excess stock. The ability of ESL to remotely manage pricing changes without physically printing new labels is also fueling their adoption.
ESL solutions help save time and labor costs associated with manual pricing operations in stores. The increased focus on providing seamless customer shopping experiences through real-time product and pricing information is further propelling the electronic shelf labels market.
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