Publishing: September 2021 | Report Code: SE12019 | Available Format: PDF
The global electronic shelf label (ESL) market generated ~$800 million revenue in 2020, and it is expected to grow at a significant rate during the forecast period (2021–2030). The major factors responsible for the growth of the market include the digitalization and automation of the retail industry, higher profits and lower time consumption allowed by such products, rising demand for increased functional efficiency with real-time product positioning, and high demand for price optimization among retail stores.
The COVID-19 pandemic, characterized by the imposition of multiple lockdowns, had a negative influence on the electronic shelf-label market. The restrictions on transportation activities and closing of manufacturing plants affected the growth of the industry. The imposition of lockdowns also led to the closure of retail shops, which had shifted consumers from the retail to e-commerce platform, which has resulted in a reduction in physical transactions, thus a lower demand for electronic shelf labeling systems.
The market is categorized into full-graphic E-paper, segmented E-paper, and liquid crystal display (LCD), based on product type. Of these, the full-graphic E-paper category holds the largest share in the market, and it is expected to grow at the highest CAGR during the forecast period. This growth can be credited to the ability of full-graphic E-paper ELSs to project graphical objects and high energy efficiency. LCD devices are costlier than E-paper variants; hence, less adopted.
The market is divided into radio frequency, infrared, NFC, and others, on the basis of communication technology. Among these, the NFC technology is to be the fastest-growing category, as it allows contactless and fast data transfer between devices, thereby encouraging manufacturers to offer this technology in their products. The NFC technology has become an additional feature in various smartphones and Point of Sale (POS) devices. The demand for NFC-enabled ELSs is being propelled by the increasing adoption of NFC in handheld devices such as smartphones, which assists in faster transactions at the PoS, thus leading to efficient store operations.
The European market for electronic shelf labels is expected to grow the fastest during the forecast period due to the presence of leading industry players and rapid growth in the retail sector across the region. The high labor cost in European countries is an important factor supporting the industry growth, as the adoption of these electronic labels increases the return for retailers by minimizing human involvement.
Globally, North America held the largest regional market share in 2020 due to the rising demand for this technology among the expansive chains of retail stores, such as Wal-Mart, across the region. In addition, the favorable government initiatives to increase technological development and integration of automated products across the retail industry will lead to the highest market revenue generation here over the forecast period.
ELS manufacturing companies are continuously developing new and innovative products in response to the increasing demand for them across the globe. The integration of the NFC technology with ELSs allows retailers to update information, such as price, special offers, discounts, and other product details, by using NFC-enabled smartphones. This helps retailers in price optimization and efficient stock management.
Retailers are taking various initiatives to enhance the consumer shopping experience. The increase in the complexity in managing large warehouses and retail stores is driving the need for smart automation in the retail sector. The ELS system delivers precision and flexibility in store operations. Centralized control allows easy updates, reliability, and time saving. As a result, various retailers are adopting ESL systems to gain an advantage over their competitors, thereby driving the ESL market.
Effective inventory and warehouse management, physical store management efficiency, and omnichannel efficiency have eased the work of retailers. This has been possible owing to the automation of the retail industry. This encourages retailers to opt for automation system to save the costs, efforts, and time in managing the store. Automated systems are useful in service and delivery scheduling, display product information and management it, and consistent process execution.
|Base Year (2020) Market Size||~$800 million|
|Report Coverage||Market Trends; Drivers; and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis; Company Profiling|
|Market Size by Segments||By Product type; By Communication Technology; By Component, By Display Size; By End User; By Region|
|Market Size of Geographies||U.S., Canada, Germany, France, Italy, U.K., Spain, Japan, China, India, Australia, South Korea, Brazil, Mexico, Saudi Arabia, South Africa|
|Secondary Sources and References (Partial List)||India Electronics & Semiconductor Association; Semiconductor Industry Association; Global Semiconductor Alliance; Semiconductor Equipment and Materials International|
The global electronic shelf label market is fragmented in nature. Some of the key players are Pricer AB, SES-imagotag, Samsung Electro-Mechanics Co. Ltd., E Ink Holdings Inc., Displaydata Limited, Altierre Corporation, Diebold Nixdorf Incorporated, CLEARink Displays Inc., Panasonic Corporation, SoluM Co. Ltd., and NCR Corporation.
In recent years, players in the electronic shelf label market have been involved in partnerships in order to attain a significant position. For instance:
The global electronic shelf label market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.
Based on Product Type
Based on Communication Technology
Based on Component
Based on Display Size
Based on End User
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