World News: 09:51 GMT Wednesday 12th June 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, June 12, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
The global electronic shelf label (ESL) market is anticipated to grow at a CAGR of 20.9% during the forecast period 2019-2025.
The global electronic shelf label (ESL) market is projected to witness significant growth during the forecast period. In terms of responding better to the increasing competition from the online retail channels, traditional retailers (i.e., brick-and-mortar) are focusing on developing strategies that utilize the cutting-edge technologies (IoT) to close the gap, specifically arising from the difference between store price and online price.
Closing the price gap in real time will remain a key factor contributing to the growth of the global electronic shelf label market during the forecast period. Other factors contributing to the growth of the market include increasing focus on real-time price automation in retail stores, optimizing the retail workflow, government regulations on commodity pricing, and rising labor cost.
The brick-and-mortar retail segment is witnessing a major shift toward digital technologies to offer superior shopping experience to the customers. The retailers are focusing on expanding their IT capabilities that offer seemingly enhanced shopping experience for customers right from the product identification to the contactless payment.Additionally, the companies operating in the retail sector, particularly in developed economies, are mandated to meet certain guidelines and standards to eliminate the misleading product price and other information of the product, which is further accelerating the demand for electronic shelf labels.Electronic shelf label (ESL) is a technology solution predominantly used in retail settings to display and modify the price of items in the store with limited human intervention. The electronic shelf label system makes use of the IoT technology, which automatically reflects the information/data when there are any changes made in the central server.
The report contains an in-depth analysis of vendors, which includes financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape. Few of the key players profiled in this study include SES-imagotag, Pricer AB, LG Innotek, Displaydata Limited, Teraoka Seiko Co. Ltd. (DIGI), SoluM, Hanshow, Altierre, Opticon, and Sunpai Industries Limited.
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Related Topics: Retail
Globe Newswire: 09:51 GMT Wednesday 12th June 2019
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