The Asia Pacific Electronic Shelf Labels Market would witness market growth of 14.1% CAGR during the forecast period (2022-2028).
Due to its quick speed and enhanced information management, most consumers favor NFC technology over other digital breakthroughs like QR codes and Bluetooth. These NFC-capable gadgets assist in gathering user information, purchasing preferences, and commonly bought goods. This makes tailored marketing easier and encourages repeat business from clients. This element contributes to the market's growth.
Due to its ability to transmit data quickly and instantly across devices, which encourages businesses to include it in products, NFC technology is projected to grow. NFC technology is currently a feature that is incorporated into many smartphones and point-of-sale (POS) systems. The increasing usage of NFC in smartphones and other mobile devices, which speeds up POS transactions and enhances retail operations, is the main factor driving the need for NFC-enabled ELSs.
Several businesses in this region are starting to realize how connecting with smart devices like smartphones, and smartwatches may improve the shopping experience for their customers. China and other nations with high technology adoption rates will help the Internet of Things spread across the retail industry. Retail companies invest more money in developing creative retail locations to entice more consumers. Several factors are promoting artificial intelligence (AI) and the Internet of Things in the retail industry. India has also grown swiftly and is more receptive to integrating cutting-edge technology to support businesses. All of this will likely lead to an increase in the use of electronic shelf labels in the APAC region.
The China market dominated the Asia Pacific Electronic Shelf Labels Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $221.3 Million by 2028. The Japan market is estimated to grow at a CAGR of 13.4% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 14.8% during (2022 - 2028).
Based on Component, the market is segmented into Display, Microprocessors, Batteries, Transceivers and Others. Based on Product Type, the market is segmented into Fully Graphic E-paper Displays, LCDs and Segmented E-paper Displays. Based on Communications Technology, the market is segmented into Radio Frequency, Infrared, Near-field Communication and Others. Based on Application, the market is segmented into Retail and Industrial. Based on Display Size, the market is segmented into Less than 3 Inches, 3 to 7 Inches, 7 to 10 Inches and More than 10 Inches. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Electronic Shelf Labels Market is Projected to reach USD 2.7 Billion by 2028, at a CAGR of 13.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SES-Imagotag (BOE Technology Group Co., Ltd.), Opticon Sensors Europe B.V., Pricer AB, Displaydata Limited, M2Comm, Rainus Co., Ltd., Shanghai Sunmi Technology Co., Ltd., Hanshow Technology Co. Ltd., Solum Co., Ltd, and Teraoka Seika Co., Ltd.
By Component
By Product Type
By Communications Technology
By Application
By Display Size
By Country
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