PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1225682
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1225682
The Asia Pacific electronic shelf label Market is estimated to be valued at US$303.125 million in 2020. The electronic shelf label system is used by retailers to display product pricing on shelves. Benefits of this system include automated updating of product prices whenever a price is modified from a central control server. Because of its rising popularity and increased demand, the APAC electronic shelf label market is growing. Demand for the APAC electronic shelf label market is growing as a result of the increase in supermarkets, specialty shops, and hypermarket numbers. The need for electronic shelf labels is rising in emerging nations like China and India due to factors including the development of the organized retail sector and the rising desire for retail automation.
ESL with Near Field Communication to improve customer experience is driving the market growth
Consumers want to know more about the products they are buying due to a growing awareness of good health and fitness, which ESLs can readily supply without the need for additional employees to assist customers. Due to the popularity of QR codes, NFC-enabled ESL has recently seen growth in its ability to speed up data sharing and transactions. Additionally, the adoption of NFC-enabled smartphones and the rise of tailored marketing augur well for the expansion of the sector. Standard ELS will become more valuable thanks to NFC technology, which will also simplify pricing indication and transparency while improving consumer experience. This lowers labor costs and boosts the demand for electronic shelf labels in the area.
Adoption of ESL by the industrial sector to boost the market growth
Electronic shelf labels have become a valuable value proposition for the industrial sector looking for automation and product location management amid the COVID-19 pandemic. Notably, the use of inventory management software and big data analysis to monitor temperature and humidity has become a trend for interactive ESL. With the expansion of the industrial sector segment in the region, the Asia Pacific ESL market is also expected to boost.
Increasing utilization of ESL in supermarkets is expected to raise the market.
In growing nations like China, the use of ESLs has been greatly influenced by changing consumer preferences and the use of IoT in supermarkets. A paradigm change has been brought about by the introduction of e-paper displays to replace paper price labels as businesses want to take advantage of opportunities to digitize the retail environment.
Market Developments:
Product Offerings:
Market Segmentation:
Segmented Labels
Full-Graphic Labels
LCD Labels
Radio Frequency (RF)
Near-Field Communication (NFC)
Infrared (IR)
Others
Supermarkets
Hypermarkets
Minimarkets
Others
India
China
Japan
South Korea
Taiwan
Thailand
Indonesia
Others
Not an exhaustive list