Pune, March 24, 2020 (GLOBE NEWSWIRE) -- The global electronic shelf labels market size is predicted to reach USD 1,850.7 million by 2026, exhibiting a remarkable CAGR of 17.8% during the forecast period. The increasing implementation of IoT and cloud computing in the retail industry will augment the healthy growth of the market during the forecast period. Moreover, the increasing government initiatives for the development of smart cities and the expansion of IoT industry will contribute positively to the electronic shelf labels market revenue during the forecast period. For instance, Draft Policy on Internet of Things, the Government of India's plans on developing 100 smart cities in the country, with an allocated budget of Rs. 7,060 crores along with the quick expansion of IoT in the country.
As per the report published by Fortune Business Insights, titled "Electronic Shelf Labels Market Size, Share and Industry Analysis, By Type (LCD Based, E-Paper Based), By Communication Technology (Bluetooth Low Energy (BLE), Near Field Communication (NFC), Others), By End-Use (Hypermarket/ Supermarket, Non-Food Retail Stores, Specialty Stores, Others) and Regional Forecast, 2019-2026", The electronic shelf labels market report incorporates several factors that have impacted the electronic shelf labels market growth and share in recent years. Besides providing insights on the growth stimulators, it reveals a few factors that have restricted the market growth. The report highlights a few of the leading products, significant companies, and considerable industry developments of recent times. The competitive landscape has been discussed in in-depth in the foodservice equipment market report. Forecast values for the market have been provided in the report for the period of 2019 to 2026. Moreover, the report recognizes areas that have witnessed the highest demand and applications for the product in recent years.
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Competitive Landscape
Contract Between SES-imagotag and REMA 1000 to Boost Market Revenue
SES-imagotag, a leader in Electronic shelf labeling systems and physical retail, announced that it had signed a contract with REMA 1000, a multinational grocery chain and Norwegian discount food retailer, to install its VUSION Retail IoT Cloud solution in more than 650 stores. REMA 1000 has chosen to deploy VUSION smart labels in all sections of its stores due to the solution's technological advance, competitiveness, and scalability. The deployment of VUSION in all the retail stores of REMA 1000 is predicted to spur growth opportunism for the market in the forthcoming years owing to the operational ability of the VUSION Cloud software, which improves efficiency and enhances in-store customer experience. Thus, the integration of VUSION with the existing network infrastructure will support cloud-based software for operations.
In addition, Kim Fagerli, CFO from REMA 1000, said in a statement, our continued success as a leading retailer in a highly competitive market depends on us remaining agile and responsive to customers, and on us delivering unbeatable value. We chose SES-imagotag because they were able to offer an easy to operate solution which slots in seamlessly to our existing network, and no extra infrastructure investment is required. The hardware is easy to install and easy to maintain and is supported by cloud-based software with open APIs that integrates perfectly with other systems that we operate. It also offers us attractive opportunities to add functionality and scale over time."
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Regional Analysis
Robust Development in IoT Industry to Propel Market in North America
The market in North America generated a revenue of USD 160.1 million in 2018 and is predicted to grow rapidly in the forthcoming years owing to the rapid technological advancements. The surge in IoT and cloud-based services will boost the electronic shelf labels market trends in the region. Europe is expected to witness high growth owing to the presence of key players in the region. Asia Pacific can be one major region to witness high demand due to the escalating retail automation in the developing countries of Asia Pacific. Moreover, the rising population will subsequently fuel demand for electronic shelf labels in the region.
List of the Major Companies in the Electronic Shelf Labels Market are:
- ARKSCAN, LLC
- Diebold Nixdorf, Incorporated.
- Displaydata Limited
- E Ink Holdings Inc.
- LG Corporation
- M2COMM
- New Zealand Electronic Shelf Labelling
- NXP Semiconductors
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Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter's Five Forces Analysis
- Global Electronic Shelf Labels Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Type (Value)
- LCD Based
- E-Paper Based
- Segment E-Paper
- Graphic E-Paper
- Market Size Estimates and Forecasts – By Communication Technology (Value)
- Bluetooth Low Energy (BLE)
- Near Field Communication (NFC)
- Others (Beacons, WLAN etc.)
- Market Size Estimates and Forecasts – By End-Use (Value)
- Hypermarket/ Supermarket
- Non-food Retail Stores
- Speciality Stores
- Others
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Europe
- Asia-Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America (LATAM)
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