March 17, 2020
As per the report titled ‘Europe Electronic Shelf Label (ESL) Market Size By Product, By Technology, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024’, available with Market Study Report LLC, Europe electronic shelf label (ESL) market is anticipated to cross USD 290 million by the year 2024.
Growing awareness among retail store owners about the benefits of ESL products will augment the growth of electronic shelf label market in Europe. Effective product promotion strategies and high return on investment on account of reduction in human labor through automated electronic devices are encouraging the technology adoption. Increasing cases of product fraud, misleading product pricing and false information will augment the demand of ESL across Europe during the forecast period.
Based on the product terrain, LCD segment is expected to see a noticeable growth over the estimated timeframe. Ease of use and availability of a wide product range at varying prices, alongside large consumer base is bolstering the demand for LCD based electronic shelf labels.
Elaborating on the technology outlook, RF platform segment is anticipated to account for significant market share in the forthcoming years. The growth can be credited to various benefits of technology such as automated price tagging and upgradation. Easy usage and integration of additional features to end products are other factors favoring the segment growth.
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Speaking of the application spectrum, Europe electronic shelf label market from supermarket segment will see modest growth in the coming years due to the presence of well-established chain of supermarkets in Europe. Several benefits such pricing automation and improved asset management which enhance the overall productivity are driving the adoption of electronic shelf labels in supermarkets. Improved shopper connectivity is further enhancing the segment share.
Major players of Europe electronic shelf label (ESL) market are Pricer, SES-imagotag, Displaydata, Diebold Nixdorf AG, LG Innotek, Altierre Corporation, Opticon Sensors Europe B.V., and M2Communication. These industry leaders are adopting strategies such as low pricing models to drive their product sales and improve their market share.
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