According to the Graphical Research new growth forecast report titled “Asia Pacific Electronic Shelf Label Market Analysis By Product (LCD ESL, Segmented E-Paper ESL, Full Graphic E-Paper ESL), By Technology (RF, IR, NFC), By Application (Industrial, Commercial [Hypermarket, Supermarket, Non-Food Retail]), Industry Forecast, 2018 – 2024”, estimated to cross USD 340 million by 2024.
Rising implementation of digitalized pricing solutions for retail and consumer goods is driving the Asia Pacific electronic shelf label market. Enhanced benefits associated with the ESL infrastructure that offer electronic price management facilities that are reliable and time-efficient. Additionally, favorable initiatives and reforms adopted by the Indian government for consumer protection against fraud and product misleads is escalated the Asia Pacific electronic shelf label market growth. The government organizations promote several initiatives related to digitization and automation of the small to high end retail stores.
China electronic shelf market has emerged as a major segment owing to the development of retail industry in the country. Presence of major electronic product manufactures account for the growth of retail stores and further increasing the consumption of advanced shelf labels. Retailers in the country gain low cost product benefits owing to the easy availability of raw materials and components. For instance, Hanshow developed smart ESL solutions that offer retailer owners optimization of store management processes and reduction in price error complaints. These solutions provide owners the guidance to place items in appropriate shelves that improves the shelf management efficiency.
IR platform in the Asia Pacific electronic shelf label market is expected to dominate over the forecast time span. The advanced labels integrating RF technology offer uninterrupted signals and flash capacities further aiding the increase in consumption. Implementation of RF platform in developing the ESL products improve the latency, operational stability, security, and speed benefiting the users to save energy spending.
Hypermarkets is expected to generate significant revenue in the Asia Pacific electronic shelf label market owing to the development extensive retail facilities in India and China. These stores include various outlets that operate their business in selling wide product ranges from grocery to electronic devices under a single roof. Increasing spending capacity of consumers in emerging economies account for the development of these stores further aiding the industry growth.
Key players present in the Asia Pacific electronic shelf lable market include Hanshow Technology, Pricer, SES-imagotag, Altierre Corporation, Wuxi Vision Peak Technology Co., Ltd, E-Ink Holdings Inc., and M2Communiaction Inc. Major manufacturers develop new product development and partnership strategies to dominate and sustain the industry competition.
Segments We Cover:
Asia Pacific Electronic Shelf Label (ESL) market Statistics, by product
- LCD ESL
- Segmented e-paper ESL
- Full graphic e-paper ESL
Asia Pacific Electronic Shelf Label (ESL) market Trends, by technology
- Radio frequency (RF)
- Infrared (IR)
Asia Pacific Electronic Shelf Label (ESL) market Growth, by application
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