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Global Electronic Shelf Label Market – Industry Trends and Forecast to 2029

  • Semiconductors and Electronics
  • Upcoming Report
  • Jul 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60
  • Semiconductors and Electronics
  • Upcoming Report
  • Jul 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Electronic Shelf Label Market, By Component (Displays, Batteries, Transceivers, Microprocessors, Others), Product Type (LCD ESL, Segmented E-Paper ESL, Full-Graphic E-Paper ESL), Technology (ZigBee, BLE, Wi-Fi), Display Size (Less than 3 inches, 3 to 7 inches, 7 to 10 inches, More than 10 inches), Store Type (Hypermarkets, Supermarkets, Non-Food Retail Stores, Specialty Stores, Other Store Types), Communication Technology (Radio Frequency, Infrared, Near Field Communication, Other Communication Technologies) – Industry Trends and Forecast to 2029

Electronic Shelf Label Market

Market Analysis and Size

Over recent years, the electronic shelf label has shown a considerable increase in demand across the globe. Additionally, The International Labour Organization (ILO) projects that the trillion-dollar retail sector will continue to develop rapidly in the years to come. Throughout the Forecast period, the Increasing proliferation of internet of things (IoT) is anticipated to offer prospective growth opportunities for producers of electronic shelf labels, which will in turn contribute to the market's overall expansion.

Global electronic shelf label market was valued at USD 826 .00 million in 2021 and is expected to reach USD 3580.16 million by 2029, registering a CAGR of 20.12% during the forecast period of 2022-2029. The “hypermarkets” accounts for the largest store type segment in the electronic shelf label market within the forecasted period owing to the growing adoption of digital technologies in the retail sector. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Electronic shelf label is basically utilized by the retailers for displaying product pricing on shelves. When a price is altered under the management of a central server, the product pricing is automatically updated. On the front edge of retail shelves, electronic display modules are typically connected. They are widely used across various stores such as hypermarkets, supermarkets, non-food retail stores, specialty stores and other store types.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Component (Displays, Batteries, Transceivers, Microprocessors, Others), Product Type (LCD ESL, Segmented E-Paper ESL, Full-Graphic E-Paper ESL), Technology (ZigBee, BLE, Wi-Fi), Display Size (Less than 3 inches, 3 to 7 inches, 7 to 10 inches, More than 10 inches), Store Type (Hypermarkets, Supermarkets, Non-Food Retail Stores, Specialty Stores, Other Store Types), Communication Technology (Radio Frequency, Infrared, Near Field Communication, Other Communication Technologies)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

SES-imagotag (France), Pricer AB (Sweden), E Ink Holdings Inc., (Taiwan), Displaydata Limited (U.K.), M2COMM (Taiwan), SAMSUNG (South Korea),  Diebold Nixdorf, Incorporated (U.S.), Opticon Sensors Europe B.V. (Netherlands), Teraoka Seiko Co., Ltd., (Japan), and NZ Electronic Shelf Labelling (New Zealand), Advantech Co., Ltd (Taiwan), FORBIX SEMICON (India), LANCOM Systems GmbH (Germany), SOLUM Group HQ (Germany), Cicor Management AG (Switzerland) and CSY Retail Systems Ltd (U.K.)

Market Opportunities

Proliferation Of Technologies

Increased Consumer Satisfaction

Electronic Shelf Label Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Surge in Digitalization and Automation in Stores

Factors such as the introduction of new channels for the supply of goods, rising wages and higher investments in the e-commerce sector all significantly impact the adoption of automation in the retail sector. Technologies like automated backroom unloading, self-checkout terminals, self-checking robots, and electronic shelf labels have proven effective at a large scale in the retail business and given retailers huge returns. Given that businesses are investing more and more in technologies to improve the shopping experience for customers, store digitalization is here to stay for a very long time. Retailers worldwide are giving customers many options throughout the entire purchasing process, and a seamless transition between online and offline shopping platforms is becoming more and more crucial.

Furthermore, the increase in urbanization along with the increase in the purchasing power among the consumers, further increasing the demand for organic and premium products, fuels the market growth. Retail automation is increasingly popular, there is a high need for pricing optimization among retailers, greater operational efficiency with real-time product positioning, and these are few of the major drivers driving the market expansion internationally.

Opportunities

  • Increased Consumer Satisfaction

The surging consumer's satisfaction due to effective customer service n are estimated to generate lucrative opportunities for the market, which will further expand the electronic shelf label market's growth rate in the future. Increased customer pleasure while shopping in stores significantly impacts the sales of electronic shelf labels. Retail businesses have been compelled to use these cutting-edge technologies in an effort to boost daily customer foot traffic by the benefits like errorless pricing combined with workflow efficiency in store. Additionally, clients may readily be informed about special offers, which affects their decision to buy, thanks to electronic shelf labels and other display solutions.

  • Proliferation Of Technologies

Additionally, the Increasing proliferation of Internet of Things (IoT) across key developed and emerging economies around the world will also offer numerous growth opportunities within the market.

Restraints/Challenges

  • Availability of Cheap Labour

The adoption of automation solutions in the retail industry across developing nations, such as India, South Korea, China, and South Africa, is severely constrained by the accessibility of labour at low costs in these nations. Since inexpensive labour is abundant in many countries, automation of retail space has little to no economic value. The availability of cheap labour further restricts the adoption of the automated solutions, which is estimated to hamper the market’s overall growth.

  • High Installation and Overall Costs

The implementation of ESL technology is expensive for unorganized merchants as they must install more electric shelves to qualify for ESL tags or be compatible with ESLs, which raises installation costs. As the operational expenses of modern retailing are already high—high rent, expensive labour, and price wars, for instance—retailers are not eager to make significant investments in technology. Despite the advantages of using electronic price tags, they are expensive to purchase initially and cannot be installed in all retail establishments. Additionally, it is necessary to upgrade the current infrastructure in order to implement retail automation systems, such as ESLs, in retail outlets, which raises the overall installation costs. Therefore, the overall product's high costs have posed a major challenge for the electronic shelf label market over the forecast period.

This electronic shelf label market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electronic shelf label market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Electronic Shelf Label Market

The electronic shelf label market was immensely impacted by the outbreak of COVID-19. The COVID-19 epidemic had a significant impact on the retail industry as well as other industrial sectors. The epidemic brought about a severe economic collapse that affected several nations, trade routes, and the worldwide supply chain. Due to lockdowns and nationwide store closures, the e-commerce industry has grown to meet the demand for necessities. Lockdowns have a negative influence on both manufacturers and customers. Several markets and industries were obliged to observe a slowdown in the yearly growth rate despite the brief period of lockout and restrictions. Due to a scarcity of supply and high demand brought on by panic buying by customers, governmental limitations, and a labour shortage, this also had an effect on the supply chain.

Retail outlets were spared from selling necessities despite the fact that many physical retailers throughout the world reported a fall in revenue generation and profit margins during the first and second quarters of 2020. Due to travel, transportation, and import/export limitations, the retail industry also suffered significant losses. The economies of major exporters including China, the U.S., Canada, Japan, France, and others suffered. Several businesses updated their storefronts using automated technologies as a result of the COVID-19 outbreak. Retailers were able to lower their overall operating costs, labour costs, and labour time thanks to the use of ESLs. Moreover, the market for ESLs is anticipated to grow in the second half of this year due to recent advancements in automation technology and consistently falling prices of electronic goods. Therefore, the market is estimated to grow at a substantial pace post COVID-19.

Recent Developments

  • In July 2020, In accordance with a Master Framework Agreement signed by Pricer AB and the Canadian Tire Dealer Association (CTDA), Pricer will serve as the CTDA's sole provider of electronic shelf label systems. ESL equipment will be installed in 38 locations across the nation as part of Pricer's first delivery under the deal.
  • In February 2020, A distribution contract was struck by Bison Schweiz AG, based in Switzerland, and Hanshow Technology to work together on developing the German and Swiss markets. As part of their agreement, the businesses will combine top-tier ESL systems from Bison with world-class ESL solutions from Hanshow to drive digitization trends in the European retail sector.

Global Electronic Shelf Label Market Scope

The electronic shelf label market is segmented on the basis of component, product type, technology, display size, store type, communication technology. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

  • Displays
  • Batteries
  • Transceivers
  • Microprocessors
  • Others

 Product Type

  • LCD ESL
  • Segmented E-Paper ESL
  • Full-Graphic E-Paper ESL

Technology

  • ZigBee
  • BLE
  • Wi-Fi

 Display Size

  • Less than 3 inches
  • 3 to 7 inches
  • 7 to 10 inches
  • More than 10 inches

 Store Type

  • Hypermarkets
  • Supermarkets
  • Non-Food Retail Stores
  • Specialty Stores
  • Other Store Types

Communication Technology

  • Radio Frequency
  • Infrared
  • Near Field Communication
  • Other Communication Technologies

Electronic Shelf Label Market Regional Analysis/Insights

The electronic shelf label market is analyzed and market size insights and trends are provided by country, component, product type, technology, display size, store type, communication technology as referenced above.

The countries covered in the electronic shelf label market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the electronic shelf label market during the forecast period of 2022 to 2029. The market is estimated to grow within the region because of the high growth of full graphic e-paper display along with the prevalence of majority of electronics manufacturers within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the prevalence of labor at low cost along with increased presence of retail giants with higher customers’ interest within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Electronic Shelf Label Market Share Analysis

The electronic shelf label market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electronic shelf label market.

Some of the major players operating in the electronic shelf label market are

  • SES-imagotag (France)
  • Pricer AB (Sweden)
  • E Ink Holdings Inc., (Taiwan)
  • Displaydata Limited (U.K.)
  • M2COMM (Taiwan)
  • SAMSUNG (South Korea)
  • Diebold Nixdorf, Incorporated (U.S.)
  • Opticon Sensors Europe B.V. (Netherlands)
  • Teraoka Seiko Co., Ltd., (Japan)
  • NZ Electronic Shelf Labelling (New Zealand)
  • Advantech Co., Ltd (Taiwan)
  • FORBIX SEMICON (India)
  • LANCOM Systems GmbH (Germany)
  • SOLUM Group HQ (Germany)
  • Cicor Management AG (Switzerland)
  • CSY Retail Systems Ltd (U.K.)

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can  assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

Global electronic shelf label market is expected to show a value of USD 3580.16 million by 2029.
The Electronic Shelf Label Market is to grow at a CAGR of 20.12% during the forecast by 2029.
On the basis of technology, the Electronic Shelf Label Market is segmented into ZigBee, BLE, Wi-Fi.
The major players operating in the Electronic Shelf Label Market are SES-imagotag (France), Pricer AB (Sweden), E Ink Holdings Inc., (Taiwan), Displaydata Limited (U.K.), M2COMM (Taiwan), SAMSUNG (South Korea), Diebold Nixdorf, Incorporated (U.S.), Opticon Sensors Europe B.V. (Netherlands), Teraoka Seiko Co., Ltd., (Japan), and NZ Electronic Shelf Labelling (New Zealand), Advantech Co., Ltd (Taiwan), FORBIX SEMICON (India), LANCOM Systems GmbH (Germany), SOLUM Group HQ (Germany), Cicor Management AG (Switzerland) and CSY Retail Systems Ltd (U.K.).