The global electronic shelf label market was valued at US$391.578 million in 2018 and is projected to expand at a CAGR of 16.85% over the forecast period to reach US$973.012 million by 2024. A number of retail stores are investing in electronic shelf label solutions in order to improve customer’s satisfaction, reduce costs, and remain competitive. These labels also help retailers to change product prices remotely, leading to enhanced business process efficiency. Factors that are driving the market for electronic shelf labels include augmenting demand for real-time product positioning coupled with stringent government regulations regarding accurate label pricing. Additionally, rising disposable income coupled with a growing preference to shop from hyper and supermarkets is further boosting the market for electronic shelf labels. Technological advancement in the coming years will provide growth opportunities for the electronic shelf label market. However, the high initial investment is likely to hamper the market growth for the labels. The electronic shelf label market has been segmented on the basis of product, technology, component, end user and geography. In the product segment, full graphic label is anticipated to grow at a significant rate owing to its ability to project graphical logos along with low power consumption feature. Further, in the end-user segment hypermarkets are projected to grow at a substantial rate on account of the rising adoption of these labels due to complicated manual management of hypermarkets. Geographically, Asia-Pacific region is anticipated to witness the fastest growth in electronic shelf market during the forecast period owing to the growing demand for retail automation and expansion of organized retail chains in emerging economies such as China and India.
A growing number of supermarkets.
Rising adoption of automation in the retail sector.
High installation costs.
In April 2018, ltierre Corp and Sirqul announced a strategic global alliance at Retail World Congress in Madrid with an aim to bring together Altierre’s leading Internet of Things (IoT) platform and Electronic Shelf Labels (ESL) with Sirqul’s IoT platform and location-based Edysen Technology to give retailers a smart, efficient solution for locating items and shoppers in their stores.
In January 2017, Pricer, the global leader in digital shelf edge solutions, announced a partnership with ECRS, a leading supplier of value-added Point of Sale (POS) solutions to provide an integrated, high-end Electronic Shelf Labeling (ESL) system.
The major players profiled in the Electronic Shelf Label market include Altierre Corporation, Pricer AB, SES-imagotag, Diebold Nixdorf, Incorporated, Displaydata Ltd, E ink Holdings, Samsung Electro-Mechanics, Opticon Sensors Europe B.V, M2COMM and Teraoka Seiko Co. Ltd. and Dana Industries among others.
The Electronic Shelf Label market has been analyzed through the following segments:
Near Field Communication
By End User
Middle East and Africa