LONDON--(BUSINESS WIRE)--TechNavio, a tech-focused research firm has published a new report on the Global Electronic Shelf Labels (ESLs) Market, which is expected to grow at a CAGR of 34.34 percent in terms of revenue from 2015-2019.
Reduction in labor costs, improved price control and higher accuracy are some of the factors that have influenced the demand for ESLs among retailers.
According to the latest report by TechNavio, the demand for NFC-enabled ESLs is increasing among retailers as they facilitate the sharing of more data with consumers.
“NFC-enabled ESLs allow consumers to access additional information about products like ingredients, allergens, nutrition and manufacturing chain information through their NFC-enabled smartphones,” says Faisal Ghaus, Vice President of TechNavio.
“The reduction in the cost of LCDs and controllers along with the rising pressure to go green is compelling many supermarkets and other shops in developed countries to shift to ESLs from traditional paper labels.”
Many supermarkets in Europe, the Americas and the APAC region are currently using ESLs. However, there is now a large untapped segment of the market in China and other developing nations in the APAC that will drive the demand for ESLs, and contribute to the growth of this market during the forecast period.
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TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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