The global electronic shelf labels market is projected to reach USD 3.08 billion by 2031, at a CAGR of 12.7%, from USD 1.05 billion in 2022. The electronic shelf labels market is expected to continue to grow in the coming years due to the integration of IoT (Internet of Things) technology in ESLs.
Digital displays took the place of traditional paper price tags in retail, and the electronic shelf labels (ESL) market changed the industry. ESLs were introduced in the early 2000s and gave pricing strategies in stores efficiency and flexibility. Real-time updates and synchronized price across different items and locations are made possible by these labels, which use wireless connectivity to sync with the central pricing system. ESL technology was quickly adopted by retailers because to its capacity to improve customer experience, minimize human error, and expedite pricing adjustments.
Due to the dynamic nature of ESLs, revisions can be made instantly during promotions, giving customers accurate and current pricing information. Driven by the growing need for automation and the need for a more responsive and nimble retail environment, the ESL market has experienced significant expansion over the years. Electronic shelf labels are a key piece of technology that will continue to shape the retail industry and give businesses a competitive advantage in a rapidly changing marketplace.
Read More Information about Electronic Shelf Label Market: https://www.econmarketresearch.com/industry-report/electronic-shelf-label-market/
Econ Market Research has segmented the global electronic shelf labels market based on component, product type, application, communications technology , display size and region:
Electronic Shelf Labels Market by Component (Revenue, USD Billion, 2023–2031)
- Displays
- Batteries
- Transceivers
- Microprocessors
- Others
Electronic Shelf Labels Market by Product Type (Revenue, USD Billion, 2023–2031)
- LCDs
- Segmented E-paper Displays
- Fully Graphic E-paper Displays
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