According to the Graphical Research new growth forecast report titled “Asia Pacific Electronic Shelf Label Market Size, 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]) Estimated To Exceed USD 800 Million By 2026
Rapid adoption of IoT technology among retail enterprises to improve accuracy and flexibility at the edge shelf is propelling the Asia Pacific electronic shelf label market.
Asia Pacific ESL market growth can be attributed to the increasing demand for dynamic pricing and inventory management across retailers. The changing retail landscape coupled with consumer demand is supporting the adoption of ESL among retail enterprises to reduce operational cost and enhance customer engagement.
In 2019, Segmented E-Paper ESL held a substantial industry share in the Asia Pacific electronic shelf label market. The segment growth is attributed to its size variations that can be used for various shelves, bins, and racks. The labels offer reliability in room temperature with batteries lasting for five years and durability in harsh environments supporting market growth.
NFC-enabled ESL is estimated to hold a significant industry share in the Asia Pacific ESL market. The seamless & fast transaction feature of NFC-enabled ESL when in contact with NFC-integrated smartphones reduces waiting time for consumers. This helps retailer to enhance customer satisfaction and offers competitive advantage over other retailers. The proliferation of smartphones with NFC technology along with support from payment initiation & supporting partners in ESL ecosystem is bolstering market growth. Retailers use NFC technology integrated smartphones to synchronize the prices between the cash register and the shelf to avoid price mismatches and delays.
The deployment of ESL in the industrial sector is propelling due to the growing demand for innovative and efficient tools for automated product navigation and product location management. The use of interactive ESL in large warehouses with wireless connectivity makes it easier for operations staff & warehouse managers to locate products seamlessly and enhances operational efficiency. ESLs integrated with sensors help operations staff & warehouse managers to monitor humidity and temperature of critical sections in the facility using big data analysis and inventory management applications.
Some of the key industry players operating in Asia Pacific electronic shelf label market include E Ink Holdings Inc., Diebold Nixdorf, Incorporated Herbert Retail Limited, SoulM, Altierre Corporation, Teraoka Seiko Co., Ltd., SES-imagotag, M2COMM, and Samsung Electronics Co. Ltd.
The Asia Pacific Electronic Shelf Label market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2016 to 2026 for the following segments:
Asia Pacific Electronic Shelf Label Market, By Product
- LCD ESL
- Segmented e-paper ESL
- Full graphic e-paper ESL
Asia Pacific Electronic Shelf Label (ESL) Market, By Technology
- Radio frequency (RF)
- Infrared (IR)
Asia Pacific Electronic Shelf Label Market, By Application
- Non-food retail
The above information is provided on a country basis for the following:
- South Korea