by The Blockchain Enables On-Demand Lending Market is estimated to be valued at US$ 2.5 Bn in 2022 and is expected to exhibit a CAGR of 27.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The blockchain enables on-demand lending market represents the peer-to-peer lending activities facilitated through blockchain technology. Blockchain allows for transparent, decentralized lending by recording loan agreements and repayment schedules on distributed ledgers. This removes central authorities and gives borrowers more autonomy over their financial choices. Smart contracts further streamline the lending process, allowing borrowers to receive capital in a fully digital format within minutes of approval.
Market Dynamics:
One of the key drivers for the growth of blockchain enables on-demand lending market is that it significantly reduces the cost of financing for borrowers compared to traditional banks. Using blockchain reduces infrastructure and overhead costs for lending platforms. This cost saving is passed on to borrowers in the form of lower interest rates and fees. Furthermore, blockchain’s inherent transparency eliminates the risk of financial mismanagement and corruption. All transactions are immutably recorded on distributed ledgers, giving confidence to both lenders and borrowers. This fosters trust and encourages greater participation in peer-to-peer lending activities. Another factor fueling the market is the rising popularity of decentralized finance applications. Young customers especially appreciate the autonomy, privacy and flexibility provided by blockchain-powered financial tools. This growing consumer base is expected to drive heavy adoption of on-demand lending solutions over the forecast period.
Segment Analysis
The Electronic Shelf Labels market is dominated by the integrated ESL segment which accounts for over 60% share of the global market. Integrated ESL features display, RIFD chips, antennae and battery in one module providing a seamless viewing experience to customers. It also reduces complexity and installation cost for retailers driving higher adoption.
PEST Analysis
Political: Regulations around ESLs are enabling in key markets which is encouraging investments and innovations in the space.
Economic: High labor costs are driving retailers to automate price checking and updating through ESL solutions to enhance productivity.
Social: Shoppers prefer instant access to accurate product pricing at retail shelves driving need for ESL adoption.
Technological: Advances in renewable energy sources, flexible displays and connectivity are making ESLs more affordable and easier to deploy on a large scale.
Key Takeaways:
The global Electronic Shelf Labels market is expected to witness high growth, exhibiting a CAGR of 16.06% over the forecast period, due to increasing digitization of retail spaces. The US market dominated with over 30% share in 2022 led by widespread adoption by top retailers to enhance shopping experience.
Regional analysis shows Asia Pacific is the fastest growing market for ESLs growing at over 20% CAGR due to rapid expansion of retail infrastructure. China accounts for more than 40% share in the region on the back of progressive policies supporting automation.
Key players operating in the Electronic Shelf Labels market are SES-Imagotag, Pricer AB, Displaydata, Opticon Sensors Europe B.V, Samsung Electro-Mechanics, NZ Electronic Shelf Labelling, M2Communication, Diebold Nixdorf, Altierre, Teraoka Seiko, Advantech US, E Ink, Toshiba Global Commerce Solutions, SESimagotag, E-Ink, Wuxi Wei Feng Technology, and Cicor. SES-Imagotag dominates with over 40% market share led by its leadership in integrated ESL solutions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
