Electronic Shelf Label Market

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. Moreover, low return on investment is expected to impede growth of the electronic shelf label market size.

The electronic shelf label market has been severely impacted by the outbreak of the COVID-19 pandemic. With governments of several nations imposing and extending lockdowns, production and manufacturing facilities across the globe have been shut down, owing crisis and unavailability of workforce. Considering the inputs from various industry experts belonging to the various stages of the value chain, such as OEMs, suppliers, integrators, end users, and distributors, and the financial release of various companies in the electronic shelf label ecosystem, it is calculated that the market has experienced a decline during 2019–2020. Furthermore, the outbreak of the pandemic has disrupted the global supply chain, thereby creating significant gap in supply chain. Economic impact of the pandemic has been disruptive. Key players operating in the electronic shelf label industry temporarily witnessed a slowdown, owing to lack of availability of skilled professional to develop electronic shelf label market solutions, which has led to decline in revenues for the financial year 2020 to 2021. However, it is expected that the market will recover from 2021 and remain in the growth stage during the forecast period.

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