Electronic Shelf Label Market Research, 2031
The Global Electronic Shelf Label Market was valued at $825.1 million in 2021, and is projected to reach $3.5 billion by 2031, growing at a CAGR of 15.5% from 2022 to 2031.
Electronic shelf label (ESL) also known as digital price tags, are digital wireless display systems that retail stores use to show product prices. Typically, ESLs are attached to the front edge of retail shelving. Once applied to the shelves, it directly connects to the store's ERP and point of sales (POS) to reduce pricing management labor costs, improve pricing accuracy, and enable dynamic pricing. Furthermore, each electronic shelf label (ESL) system has LCD or e-ink display that shows the price and universal product code (UPC) of the product.
Trending automation in the retail industry is the key factor that drives growth of the electronic shelf label market. Moreover, necessity for more cost-efficient and less time-consuming alternatives to paper labels fuel the market growth. In addition, increased operational efficiency with real-time product positioning, owing to utilization of electronic shelf labels boosts the growth of electronic shelf label market size. However, high expenses of installation and infrastructure cost restrain the electronic shelf label market growth.
Segment Overview
The electronic shelf label market is segmented into Product Type, Display Size, Component, Communication Technology and Store Type.
By product type, the market is categorized into LCD, segmented e-paper, and full-graphic e-paper. The LCD segment was the highest revenue contributor to the market in 2021.
By display size, it is categorized into less than 3-inch, 3-inch to 7-inch, 7-inch to 10-inch, and more than 10-inch. The 3-inch, 3-inch to 7-inch segment is considered to be the most lucrative segment during the forecast period.
By component, it is divided into displays, batteries, transceivers, microprocessors, and others. The displays segment was the highest revenue contributor to the market in 2021.
By communication technology, it is segmented into radio frequency, infrared, near field communication, and others.The radio frequency segment was the highest revenue contributor to the market in 2021.
By store type, it is classified into hypermarkets, supermarkets, non-food retail stores, specialty stores, and others. The hypermarkets segment was the highest revenue contributor to the market in 2021.
The regional segmentation of the market includes North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific electronic shelf label market is expected to grow at the highest CAGR during the forecast period, owing to high presence of retail giants with higher customer interest, and easy availability of processing machinery, high growth of full digital price tag, graphic e-paper display, and non-food retail store that are gaining popularity in this region.
Significant impacting factors in the electronic shelf label market share include increase in adoption of automation in the retail sector, rise in demand for business process optimization, and surge in purchasing power of consumers and economic growth. However, high expenses of installation and infrastructure are expected to hinder the market growth. Conversely, technological advancements with real-time data are projected to offer remunerative opportunities to the consumer active optical cable market. Each of these factors is anticipated to have a definite impact on the market during the forecast period.
Competitive analysis and profiles of the major electronic shelf label industry players and innovators such as E Ink Holdings Inc., Diebold Nixdorf, Incorporated, Samsung Electro-Mechanics, Pricer AB, Displaydata Limited, Panasonic Corporation, NCR Corporation, M2Communication, SES-imagotag, CLEARink Displays Inc. and SoluM Co. Ltd are provided in this report.
Key Benefits For Stakeholders
- This report provides a quantitative electronic shelf label market analysis of the market segments, current trends, estimations, and dynamics of the electronic shelf label market analysis from 2021 to 2031 to identify the prevailing electronic shelf label market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the electronic shelf label market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global electronic shelf label market trends, key players, market segments, application areas, electronic shelf label market forecast and market growth strategies.
Electronic Shelf Label Market Report Highlights
Aspects | Details |
Market Size By 2031 | USD 3.5 billion |
Growth Rate | CAGR of 15.5% |
Forecast period | 2021 - 2031 |
Report Pages | 428 |
By Component |
|
By Communication Technology |
|
By Product Type |
|
By Store Type |
|
By Display Size |
|
By Region |
|
Key Market Players | SES-imagotag, Panasonic Corporation, Displaydata Limited., E Ink Holdings Inc., M2Communication, NCR Corporation, Pricer AB, SoluM Co., Ltd., Diebold Nixdorf, Incorporated, Samsung Electro-Mechanics Co Ltd, CLEARink Displays, Inc. |
Analyst Review
The electronic shelf label market is projected to depict a prominent growth during the forecast period, owing to various factors, such as increase in adoption of automation in the retail sector, rise in demand for business process optimization, and surge in purchasing power of consumers and economic growth.
The electronic shelf label (ESL) system is used for displaying product pricing on shelves. It utilizes wireless communication networks such as radio frequency (RF) technology and infrared (IR) technology to communicate with the back-end database. Electronic display modules are attached to the front edge of retail shelving. The automatic updating of product pricing is done whenever a price is changed from a central control server. These labels eliminate discrepancies in selling price of the products and display reliable pricing to customers. ESL systems have a wide range of applications in various stores such as hypermarkets, supermarkets, non-food retail stores, and specialty stores.
Trending automation in the retail industry is the key factor that drives growth of the electronic shelf label market. Moreover, requirement for more cost-efficient and less time-consuming alternative to paper labels fuel the market growth. In addition, increase in operational efficiency with real-time product positioning due to the utilization of electronic shelf label boost the market growth. However, high cost of installation and infrastructure restrain the market growth. Moreover, low return on investments is also expected to impede growth of the electronic shelf label market.
The Asia-Pacific electronic shelf label market is expected to experience growth at the highest CAGR during the forecast period, due to high presence of retail giants with higher customer interest, and easy availability of processing machinery, high growth of full graphic e-paper display, and increase in popularity of the non-food retail store in this region. The key players profiled in the report include E Ink Holdings Inc., Diebold Nixdorf, Incorporated, Samsung Electro-Mechanics, Pricer AB, Displaydata Limited, Panasonic Corporation, NCR Corporation, M2Communication, SES-imagotag, CLEARink Displays Inc. and SoluM Co. Ltd.
The major application of electronic shelf labels is considered to be in hypermarkets.
Europe is estimated to be the largest regional market for Electronic Shelf Label.
The global electronic shelf label market was valued at $825.1 million in 2021
The top companies to hold the market share in Electronic Shelf Label are E Ink Holdings Inc., Diebold Nixdorf, Incorporated, Samsung Electro-Mechanics, Pricer AB, Displaydata Limited and others.
The Electronic Shelf Label Market is expected to grow at a CAGR of 15.51% during the forecast period.
Loading Table Of Content...