Global Electronic Shelf Label Market Size By Product Type (CD ESLS, E-PAPER ESLS), By Store Type (Hypermarket, Supermarket, Specialty Store), By Geographic Scope And Forecast

Electronic Shelf Label Market Size And Forecast

Electronic Shelf Label Market size was valued at USD 1.05 Billion in 2021 and is projected to reach USD 6.54 Billion by 2030, growing at a CAGR of 22.49% from 2022 to 2030.

Trending retail automation is driving the adoption of electronic shelf labels across all types of retail stores such as hypermarkets, speciality stores, and supermarkets which in turn is catapulting the growth of the market. The Global Electronic Shelf Label Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Electronic Shelf Label Market Definition

Electronic shelf labels used by retailers have an indicator that displays the price of the product and the offers related to the product. There are several electronic shelf labels in a retail store that are controlled by a server, which uses a wireless communication network to communicate with the ESL.

If the price of a product is changed, the ESL server sends the price change data to an ESL displaying that product. On receiving the changed price data, the ESL changes the price information and updates it on the database. An ESL is usually attached on the front edge of a retail shelf and the product price displayed on an ESL is automatically updated whenever a price is changed. This change can be made with the help of a communication network based on infrared, radiofrequency, or visible light technology.

With the development in retail digitalization comes the advent of new products and services that are easy to use, adopt and scale, increasingly benefiting customers in a fully connected world. Electronic shelf labels (ESLs) have been widely adopted by retail stores such as hypermarkets, supermarkets as well as other retail outlets.

The electronic shelf system is typically used by retailers to display the price of the product on the shelf and information related to it. On top of the benefits that ESLs pose to customers, the product provides advantages to retailers as well through the minimization of labor costs, retaining of price integrity as well as being able to focus on optimizing the inventory costs.

Global Electronic Shelf Label Market Overview

With the advent of technology and the adoption of automation in the retail industry has turned out to be increasingly beneficial for retailers. The growth of this industry is due to the reduction of manual operations to increase operational efficiency. This benefit has led to the widespread adoption of electronic shelf label solutions across the retail industry. Furthermore, trending retail automation is also driving the adoption of electronic shelf labels across all types of retail stores such as hypermarkets, specialty stores, and supermarkets which in turn is catapulting the growth of the market.

Moreover, dynamic pricing can be achieved by putting digital price tags in retail stores. Additionally, it can also help in reducing manual operations to increase operations efficiency and workplace productivity. These are the reasons which are driving the adoption of ESL’s which is driving the growth of the market. However, the cost associated with the ESL solution can be expensive at the start for some unorganized retailers because it increases the number of electrified shelves which can support the ESL tags.

The retailers need to calculate the benefits of ESL technology before putting it into use and by what time their investment in ESL can give revenue. In countries like South Korea and India where most of the is unorganized can’t invest in ESL technology. Moreover, the awareness regarding ESL technology amongst the retailers is low in emerging economies which is proving to be difficult for the adoption of ESL technology. These are the factors that are hampering the growth of the Electronic Shelf Label Market.

Global Electronic Shelf Label Market Segmentation Analysis

The Global Electronic Shelf Label Market is Segmented on the basis of Product Type, Store Type, And Geography.

Electronic Shelf Label Market, By Product Type

• CD ESLS• E-PAPER ESLS

To Get Summarized Market Report By Product Type-

Based on Product Type, The market is bifurcated into CD ESLS and E-PAPER ESLS. The E-paper ESLs are expected to grow at the highest CAGR compared to CD ESLs over the forecast period. This growth can be attributed to its ability to project graphical objects and high energy efficiency. These are the drivers that are contributing to the growth of the Electronic Shelf Label Market which is leading to the overall growth of the Electronic Shelf Label Market.

Electronic Shelf Label Market, By Store Type

• Hypermarket• Supermarket• Specialty Store• Non-Food Retail Store• Others

To Get Summarized Market Report By Store Type-

Based on Store Type, The market is bifurcated into a Hypermarket, Supermarket, Specialty Store, Non-Food Retail Store, and Others. For the forecast period, non-food retail stores are anticipated to witness the highest growth. It includes electronic, drug, and pharmacy shops. These shops adopt the use of ESL for digital pricing and superior product management. These befits have led to the growth of the market.

Electronic Shelf Label Market By Geography

• North America• Europe• Asia Pacific• Rest of the world

Based on Geography, The Global Electronic Shelf Label Market is classified into North America, Europe, Asia Pacific, and Rest of the world. The largest share in the market will be dominated by Europe. The early acceptance of ESL solutions in the Europe region is the reason for its dominance. It can be dated way back to 1991 when the first ESL solution was launched in France. Even though Europe got the head start, the APAC region is showing promising growth in the Electronic Shelf Label Market due to globalization and the development of the retail sector.

Key Players

The “Global Electronic Shelf Label Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Ses-Imagotag, Altierre, Samsung Electro-Mechanics, E Ink Holdings, Displaydata, M2communication, Diebold Nixdorf, and Opticon Sensors Europe.

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• SES-imagotag and Ossia announce partnership to develop wireless charging smart digital labels

• Altierre and Motion Display announce global strategic alliance to fuel dynamic promotions

• E Ink and SES-imagotag Announce a Strategic Collaboration to Strengthen Their Positions in the Retail Internet of Things Market

Report Scope

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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