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Electronic Shelf Label Market to reach USD 5.2 Bn by 2032 - Latest Fact.MR Study
NEW YORK , Feb. 25, 2022 /PRNewswire/ -- The global electronic shelf label market to grow at a CAGR of 18.3% during the forecast period 2022-2032 and is estimated to reach a market valuation of US$ 980 Mn by the end of 2022.
In 2022, smart retail devices are expected to reach a value of USD 980 Mn . The retail industry has been largely influenced by expansions of supermarkets and hypermarkets, pushing the demand for retail equipment and devices such as electronic shelf labels.
Furthermore, retail automation trends under digitalization, price optimization for retail stores, real-time product positioning, and increased operational efficiency are all expected to drive the market.
The Internet of Things (IoT) and growing digitization in the retail sector continue to influence market growth. As a result of growing retail sales, supermarkets and hypermarkets have been rapidly expanding across key markets around the world, particularly in developed and emerging economies.
With the help of self-checking robots, self-checkout terminals, and various other technologies, retailers have been able to increase their profit margins. There is a direct correlation between several macroeconomic factors, including urbanization, GDP per capita and economic growth, as well as overall sales, which will ultimately fuel the demand for electronic shelf labels.
The International Labour Organization (ILO) forecasts that the trillion dollar retail industry will continue to grow strongly in the coming years. Throughout the assessment period, this factor is expected to provide opportunities for growth for manufacturers of electronic shelf labels, contributing to the overall growth of the market.
In recent years, players in the electronic shelf label market have been involved in partnerships in order to gain a significant position. As a result, the focus of manufacturers in the electronic shelf label market is shifting toward strengthening distribution channels and preparing active marketing strategies. Examples include:
Fact.MR, in its report, offers a market analysis of the Global Electronic Shelf Label Market analyzing forecast period through 2022 and beyond. This survey reveals the growth of technology in the Electronic Shelf Label Market with detailed segmentation as follows: -
The broader trends pertaining to energy efficiency are also impacting the market notably. Also, electronic siren systems find numerous applications such as in patrol vehicles, loading bays, and aviation. These factors have worked to the advantage of electronic siren systems manufacturers, and it is likely that further opportunities will emerge during the assessment period.
Demand for construction equipment is expected to be driven by the infrastructure sector, in conjunction with a variety of advanced construction equipment in rental fleets. The growing populations of Asia Pacific countries, including China , India , and South Asia , are driving the need for improved infrastructure including homes, schools, hospitals, stadiums, and government buildings.
Humidity indicator cards contain a moisture sensitive chemical, usually cobalt dioxide, which changes their color from blue to pink for indicating the humidity levels. In the recent past, there has been a substantial rise in the adoption of humidity indicators in industries such as food, electronics, military, household, aerospace, pharmaceuticals, and diagnostic & optical component packaging, on account of their excellent competency to quantify the moisture levels.
A new thermal laminate technology is one such advanced lamination technology that delivers special effects laminate films in packaging solutions to capture consumer attention. With the increasing implementation of advanced lamination solutions in the packaging, the special effects laminate films market is expected to witness a robust growth in coming years.
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