The global electronic shelf label market is expected to grow at a CAGR of 16.84% from 2022 to 2028.
MARKET TRENDS & DRIVERS. The Growth in Retail Automation. Automation and digitalization are considered the next big opportunity for enhancing the shopper’s experience in the retail industry.
New York, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electronic Shelf Label Market - Global Outlook & Forecast 2023-2028" - https://www.reportlinker.com/p05341810/?utm_source=GNW
Retail automation is gaining momentum owing to the effective maintenance and management that supports the store’s success. With consumers expecting a well-maintained and sophisticated shopping environment, technologies like service automation are turning the expectations into a reality. The ESLs are getting more advanced with the entry of new players in the electronic shelf label market alongside leaders like SES-imagotag and Pricer. The latest generation of e-paper has been an absolute game-changer for retailers promoting overall effectiveness and elevating customer satisfaction levels.
Operational Efficiency and Profitability
Consumers today expect more retail features than before to make the shopping experience more effective, convenient, and rewarding. This has led to the growth in the adoption of features like ESL, which supports customer-centric experiences like click and collect, scan and go, and pick-up in-store options. The consumers’ shopping journey inside the retail environment is also powered by the latest digital technologies deployed through automation and innovations like ESL.
*INDUSTRY RESTRAINTS*
High Initial Investments
Despite the growing trend for retail automation and IoT domination in the industry, the huge investment cost hinders the electronic shelf label market growth, especially among the growing markets of APAC and Latin America, which are highly price sensitive. Most small and medium-scale retail premises are concerned with the Return-on-Investment factor, which needs to be more questionable in uncertain business models.
*SEGMENTATION INSIGHTS
INSIGHTS BY TECHNOLOGY*
The RFID technology segment is expected to be the largest in the global electronic shelf-label market. The RFID platform is the most preferred owing to its benefits, like seamless communication without the line-of-sight issue. The RFID tag readers can track the active RFID tags to manage valuable assets and products in terms of stocking and inventory. It also automatically identifies the target objects with the help of radio signals and registers and stores the object information. With the use of RFID connectivity, tracking management has become handier.
Segmentation by Technology
• RFID
• NFC
• BLE
• IR
• Others
*INSIGHTS BY END-USER*
The global electronic shelf label market by end-user segments such as supermarkets & hypermarkets, convenience stores, departmental stores, drug stores, and other segments. Supermarkets and hypermarkets tend to have the highest adoption rate for ESLs, accounting for over 50% of the electronic shelf label market share in 2022 revenue. One of the major reasons for the adoption can be associated with the huge stocking of commodities on display which requires more work to facilitate dynamic pricing. The buying power in the retail format is also more significant owing to the economies of scale and efficient supply chain management within the in-store premises. Adopting ESLs in the retail format is also highly beneficial and convenient, saving labor costs and time. Moreover, for supermarkets and hypermarkets, the ESLs must be highly effective with powerful batteries ideal for multiple prices updated daily. It is also recommended that the vendors offer labels in multiple sizes and features to meet the needs and visuals of various sections in the store.
Segmentation by End-user
• Supermarkets & Hypermarkets
• Convenience Stores
• Departmental Stores
• Drug Stores
• Others
*INSIGHTS BY PRODUCT*
The e-paper product segment is expected to dominate the global electronic shelf label market. E-paper technology is the most rapidly growing platform for adopting electronic shelf labels. The segment’s major advantage can be attributed to its bi-stable display, which can be maintained even when the external electric field is removed, leading to power consumption only when there is an update in the display information. It is also widely preferred for its better outdoor visibility and reduced eye strain owing to the e-ink display. The ability to display the information in vibrant colors like white, black, and red is another major advantage for the rising preference in superstores and convenience stores.
Segmentation by Product
• E-paper
o Segmented E-paper
o Fully Graphic E-paper
• LCD
*INSIGHTS BY DISPLAY SIZE*
The less than 3 inches display size segment is expected to be the largest in the global electronic shelf label market. The significant growth in the less than 3 inches segment is due to the increasing demand for these display sizes from the tier I and tier 2 retailers that depend on these label sizes due to the greater number of offerings available in the retail stores.
Segmentation by Display Size
• Less than 3 Inches
• 3 to 7 Inches
• 7 to 10 Inches
• More than 10 Inches
*INSIGHTS BY COMPONENT*
The global electronic shelf label market by component is categorized into displays, batteries, transceivers, microprocessors, and others. The display component segment is expected to dominate the global industry. ESL modules use electronic paper (E-paper) displays, multi-color displays, 7-page displays, and touchscreen to show the current product price to the customers.
Segmentation by Component
• Displays
• Batteries
• Transceiver
• Microprocessors
• Others
*GEOGRAPHICAL ANALYSIS*
The global electronic shelf label market is highly concentrated in developed nations but still niche and fast growing in developing APAC and Latin America countries. The growth can also be attributed to the presence of global vendors like Pricer and SES-imagotag in the European region and regional vendors in China and Japan. Europe was the dominant electronic shelf label market with a huge presence for ESL systems across all retail formats, including apparel stores, drug stores, and electronics retail. The region is also expected to remain the industry leader by the end of 2028 as it grows with the regional trend and consumer demands. Countries like France, Germany, and Sweden are quickly approaching the inflection point, further propelling the adoption pattern.
Segmentation by Geography
• Europe
o France
o UK
o Germany
o Italy
o Spain
o Benelux
o Sweden
o Norway
• North America
o US
o Canada
• APAC
o China
o Japan
o South Korea
o Singapore
o Australia
• Latin America
o Brazil
o Mexico
• Middle East & Africa
o UAE
o South Africa
o Saudi Arabia
*COMPETITIVE LANDSCAPE*
The global electronic shelf label market is considerably fragmented, where players like Pricer, SES-imagotag, and Displaydata are by far the largest revenue generators across the potential markets in Europe, APAC, and North America. Furthermore, some recognizable partnerships include Hanshow Technologies and Ahold Delhaize since 2018, where the ESL solution provider has installed its base across European countries like Belgium and Greece, which are estimated to be fast-growing markets.
Key Company Profiles
• Pricer
• SES-imagotag
• Displaydata
• Hanshow Technology
• Opticon
Other Prominent Vendors
• DIGI
• E INK HOLDINGS
• CEST
• LG Innotek
• Pervasive Displays
• Dana Industries
• ifLabel
• Ubiik
• Huawei
• TroniTAG
• SUNPAI INDUSTRIES
• Diebold Nixdorf
• M2COMM
• Herbert Retail
• Solum
• Zkong
• RAINUS
• MariElla Labels
*KEY QUESTIONS ANSWERED:*
1. How big is the electronic shelf label market?
2. What is the growth rate of the global electronic shelf label market?
3. What are the growing trends in the electronic shelf label market?
4. Which region holds the most significant global electronic shelf label market share?
5. Who are the key players in the global electronic shelf label market?
Read the full report: https://www.reportlinker.com/p05341810/?utm_source=GNW
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