Artificial Intelligence
Electronic Shelf Label Market Worth $2.57 Billion by 2028 – Exclusive Report by Meticulous Research®
Redding, California, Oct. 05, 2021 (GLOBE NEWSWIRE) — According to a new market research report titled “Electronic Shelf Label Market by Product Type (E-Paper, LCD), Display Type (Full Graphics, Black&White), Component (Hardware, Software), Communication Technology (NFC, Wi-Fi), End User (Retail, Automotive Retail), and Geography — Global Forecast to 2028”, published by Meticulous Research®, the electronic shelf labels market is expected to grow at a CAGR of 21.8% from 2021 to 2028 to reach $2.57 billion by 2028.
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Electronic Shelf Labels (ESL) are low-power-consuming display tags used mostly in the retail industry to display product prices and information. ESLs display information using electronic paper (E-paper), liquid crystal display (LCD), or thin-film transistor (TFT) technologies. ESL tags are centrally controlled and display pricing information, product information, competitor pricing, and advertisements. These tags are used as an alternative to paper tags in retail facilities. ESL tags are mainly used in the retail sector; however, hospitality, travel & tourism, automotive retail, and corporate, among other sectors, are also turning to electronic shelf labels due to their cost-effectiveness and efficiency.
Stringent environmental regulations concerning the use of paper, the rising trend of retail automation, and the higher efficiency and time savings offered by ESLs compared to traditional paper labels are the factors driving the growth of the electronic shelf labels market. However, the high cost of installing ESL infrastructure is expected to restrain market growth in developing regions. Advancements in retail technologies and the availability of real-time product information and prices, with the use of Augmented Reality and Artificial Intelligence, are projected to provide significant growth opportunities for the vendors operating in this market. Also, the reluctance to deploy automated technology among low-margin retailers is expected to create challenges for the market’s growth.
The Impact of COVID-19 on the Electronic Shelf Label Market
The outbreak of COVID-19 had a huge impact on the retail and other industrial verticals. The pandemic caused a widespread economic breakdown across several countries, trade routes, and the global supply chain. Due to lockdowns and country-wide shutdowns of physical stores, the e-commerce sector increased to meet the demand for essential items. Lockdowns severely impacted consumers as well as manufacturers. Although the period of lockdown and restrictions was limited, several markets and industries were forced to observe a slowdown in the annual growth rate. This also impacted the supply chain due to lack of supply and extreme demand as consumers were panic buying, government restrictions were imposed, and lack of labor.
Electronic shelf labels enabled retailers to update prices automatically, in real-time across stores, eliminating tedious and error-prone manual work. With ESLs, retailers increased their pricing efficiency and accuracy, optimized click and collect, and simplified replenishment. Store operators quickly reacted to market prices and easily synchronized pricing to keep up with the online competition. ESLs allowed customers to see the correct price and get personalized, in-depth product information, creating a seamless in-store and online shopping experience with price transparency.
The pandemic also impacted the psychology of consumers towards the purchase of goods and where to buy them from. Consumers are changing their spending patterns to purchase less expensive products to save more money, which is expected to reduce the footfall of physical retail stores and indirectly reduce the growth of the electronic shelf labels market.
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Several retailers took the opportunity of the pandemic to deploy ESL in their stores. From the third quarter of 2020, the manufacturing of ESL recovered much faster. The retail industry is expected to recover steadily due to the increased need for automation, stringent government regulations regarding the environment, and the use of paper, minimizing human interaction and contact. Among a few major retailers, Walmart, in its retail chains in the U.S. and Canada, is planning to transform its stores from paper labels to electronic labels by the end of 2021. While most consumers in developed countries are still hesitant to re-visit physical stores and prefer e-commerce, consumers in developing regions, such as China, India, and Brazil, have started visiting the retail stores after relaxation from the government.
Key Findings in the Electronic Shelf Label Market Study:
The electronic shelf labels market is segmented based on product type, display type, component, communication technology, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on product type, the electronic shelf labels market is segmented into e-paper, LCD, and TFT. The e-paper segment is expected to account for the largest share of the electronic shelf labels market in 2021. The large share of this segment is mainly attributed to the advantages of e-paper ESLs, such as their lower costs and power consumption and simpler design compared to other technologies. Moreover, the paper-like readability of e-paper ESLs, and their versatility of display (full graphics and black & white) drive the demand for e-paper-based electronic shelf labels. Moreover, the e-paper electronic shelf labels segment is expected to witness significant growth during the forecast period 2021-2028.
Based on display type, the electronic shelf labels market is segmented into full graphics, black & white, and segmented. The full graphics segment is expected to account for the largest share of the electronic shelf labels market in 2021. The large share of this segment is mainly attributed to the growing usage of full-graphics displays in supermarkets and electronic stores due to their ability to showcase a wide range of colors such as red, yellow, black, and white which makes them more appealing. Moreover, full-graphics ESLs can also be used for scheduling and feature multiple pages depending on the amount of information.
Based on component, the electronic shelf labels market is segmented into hardware and software. The hardware segment is expected to account for the largest share of the overall market in 2021 and expected to grow at the highest CAGR during the forecast period. The large share of this segment is mainly attributed to the larger proportion of hardware (display screens, batteries, controllers, gateways, railings, brackets, and other accessories) used in overall ESL systems. The hardware costs constitute nearly 90–95% of the overall system cost.
Quick Buy – Electronic Shelf Label Market Research Report: https://www.meticulousresearch.com/Checkout/20555626
Based on communication technology, the electronic shelf labels market is segmented into NFC, Wi-Fi, Bluetooth, and RFID. The NFC segment is expected to account for the largest share in 2021and is expected to grow at the highest CAGR during the forecast period. NFC technology allows product prices to be updated at any time through the use of NFC-enabled smartphones, simplifying customer interactions.
Based on end user, the electronic shelf labels market is segmented into retail, automotive retail, manufacturing, and other end users. The retail segment is expected to account for the largest share of the overall electronic shelf labels market in 2021. The factors helping the dominance of this segment include advancements in retail automation, rising need to minimize human interactions & contacts, and retailers’ growing preference for ESLs over paper-based labels. The retail industry is a leading end-user of ESL, with over 60% of the deployments in this sector. Retailers use an ESL system for displaying product pricing on shelves. The product pricing is automatically updated whenever a price is changed from a central control server. However, automotive retail is subjected to showcase the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the use of ESLs by dealership stores, such as new car dealerships, used cars dealerships, luxury car dealerships, motorcycle and bike stores, and others to effectively manage their customers, provide accurate and detailed pricing and attract more consumers.
Geographically, Europe is expected to account for the largest share of the global electronic shelf labels market in 2021. The government has subjected a consumer protection law in the European Union (EU) to adopt retail automation in the region. For instance, in France, the Consumer Code mandates businesses to display price information on their products. In addition, advertisements are prohibited to directly or indirectly incite excessive consumption behaviors or the wasting of energy & natural resources. The increasing proliferation of the Internet of Things (IoT) coupled with growing digitization in the European retail sector is one of the major factors driving the European electronic shelf labels market. However, Asia-Pacific is expected to witness the fastest growth during the forecast period. The factors attributed to the high growth of this region are macroeconomic factors such as penetration of high-speed internet services in countries such as South Korea and China, shifting lifestyles, and the growing organized retail sectors are boosting the necessity of in-store automation, which is further expected to boost the growth of ESLs in the Asia-Pacific region. Also, retailers are taking initiatives for the deployment of ESLs in stores.
The key players operating in the global electronic shelf label market are Teraoka Seiko Co., Ltd. (Japan), Displaydata Limited (U.K.), M2COMM (Taiwan), Mariella Labels OY (Finland), Opticon Sensors Europe B.V. (Netherlands), Pricer AB (Sweden), RAINUS Co., Ltd. (South Korea), SES-imagotag SA (France), SoluM Co., Ltd. (South Korea), Store Intelligence Inc. (U.S.), Zhejiang Hanshow Technology Co., Ltd. (China), Diebold Nixdorf Incorporated (U.S.), NZ Electronic Shelf Labelling (New Zealand), CLEARink Displays, Inc. (U.S.), and E Ink Holdings Inc. (Taiwan) among others.
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Scope of the Report
Electronic Shelf Label Market, by Product Type
- E-Paper
- LCD
- TFT
Electronic Shelf Label Market, by Display Type
- Full Graphics
- Black & White
- Segmented
Electronic Shelf Label Market, by Component
- Hardware
- Display
- 3-7 Inches
- Less than 3 Inches
- 7-10 Inches
- More than 10 Inches
- Other Hardware
- Display
- Software
Electronic Shelf Label Market, by Communication Technology
- NFC
- Wi-Fi
- Bluetooth
- RFID
Electronic Shelf Label Market, by End User
- Retail
- Hypermarkets & Supermarkets
- Department Stores
- Food Retail Stores
- Electronics Stores
- Pharmacies & Drugstores
- Fashion & Clothing Stores
- Other Retail Stores
- Automotive Retail
- Manufacturing
- Other End Users
Electronic Shelf Label Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Switzerland
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- South Korea
- India
- Singapore
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East & Africa
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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Artificial Intelligence
J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit
In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.
In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation.
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.”
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.
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Artificial Intelligence
Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024
SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.
Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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Artificial Intelligence
HOYA Group Company, PENTAX of America, Inc. and MAGENTIQ EYE Ltd. Announce their Intention to Form a Distribution Partnership for the U.S Market
WASHINGTON D.C., May 17, 2024 /PRNewswire/ — HOYA Group Company, PENTAX of America, Inc. (PENTAX Medical) and MAGENTIQ-EYE Ltd., an AI medical device company, announced today their intention to form a partnership in the field of AI in Gastroenterology and to examine further collaboration and strategic partnerships.
Pending field trials and customer demonstrations to be conducted over the next several months, the companies expect to formalize an agreement as a first step in this partnership, by which PENTAX Medical will distribute the MAGENTIQ-COLO™ AI-assisted lesion detection device in the U.S.A. beginning October 1st, 2024. The system will be demonstrated at the upcoming Digestive Disease Week (DDW) in Washington D.C., U.S.A.
MAGENTIQ-COLO™ is a cutting-edge system for the detection of gastrointestinal lesions in colonoscopies. Successfully validated in an international multicenter, randomized, controlled trial (RCT) with 950 enrolled patients at 10 hospitals in Europe, United States and Israel, its outstanding diagnostic capabilities are setting new standards in endoscopic AI.
“We are excited to bring the MAGENTIQ-COLO™ device to the GI community in the U.S. Together with PENTAX Medical’s product portfolio, we are confident to provide a smart solution in colonoscopy and contribute further to colorectal cancer prevention”, says David Harrison, President PENTAX of America, Inc.
“Partnering with PENTAX Medical is an important milestone for us, as it opens new opportunities to introduce our game changing product to the U.S. market, benefiting doctors and their patients and saving more lives”, says Dror Zur, Founder & CEO of MAGENTIQ-EYE.
About MAGENTIQ-EYE Ltd.Founded in 2014, MAGENTIQ-EYE offers a groundbreaking AI-aided colonoscopy solution that offers one of the best performances known today. With worldwide recognition from the gastroenterology community, and dozens of procedures performed every day with the assistance of MAGENTIQ-COLO™, we are setting the new standard of colonoscopy, and saving more and more lives. www.magentiq.com
About PENTAX Medical
PENTAX Medical is a division of HOYA Group. The company’s mission is to improve the standard of patient care and quality of healthcare delivery by providing the best endoscopic products and services with a focus on QUALITY, CLINICALLY RELEVANT INNOVATION, and SIMPLICITY. PENTAX Medical strives to align with the healthcare community’s Triple Aim goals through transparent partnerships with its customers and by providing the highest quality solutions to help them reach their goals, including enabling customers to improve patient outcomes by offering evidence-based solutions across the continuum of care; ensuring value by supporting the customers to improve their efficiency and minimize their healthcare costs; and enriching patient and provider’s experience by empowering every member of the care team to achieve optimal outcomes through products, education, and support. Focused on the outcome instead of technological features, PENTAX Medical listens to the healthcare community and their patients, understands their daily obstacles and helps improve endoscopy with smart innovations.
For more information: https://www.pentaxmedical.com
About HOYA
Founded in 1941 in Tokyo, Japan, HOYA Corporation is a global technology and med-tech company and a leading supplier of innovative high-tech and medical products. HOYA is active in the fields of lifecare and information technology, providing eyeglasses, medical endoscopes, intraocular lenses, optical lenses, as well as key components for semiconductor devices, LCD panels, and hard disk drives. With over 150 offices and subsidiaries worldwide, HOYA currently employs a multinational workforce of 36,000 people. For more information, please visit: https://www.hoya.com/en/
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