Electronic Shelf Label Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Type (LCD Based Label, E- Paper Based Label (Segmented Label, Full-Graphic Label)), By Technology (Infrared, Near Field Communication, Radio Frequency, Bluetooth), By Component (Display, Battery, Software, Others), By End User (Supermarket, Hypermarket, Pharmacy, Others), And By Geography - Forecasts From 2022 To 2027

Published:  Jun 2022 Report Code: KSI061610179 Pages: 114

The electronic shelf label market was evaluated at US$1,053.980 million for the year 2020, growing at a CAGR of 15.50% to reach the market size of US$2,890.406 million by the year 2027. Electronic Shelf Labels (ESL) are used by retailers to display product prices on shelves. The main controller server updates product prices automatically every time the price changes.

The digitalization of stores and the prevalence of the retail automation trend, as well as a cost-effective and less time-consuming substitute to paper labels, high demand for price optimization among major retailers, and enhanced operational effectiveness with real-time product positioning, are all contributing to the market's global growth. The market's growth is further influenced by the increasing spread of the Internet of Things (IoT) and expanding digitization in the retail sector. Consistent retail growth has resulted in the rapid development of retail outlets, particularly supermarkets & hypermarkets, across key established and emerging nations globally. Electronic shelf labels, self-checking robots, self-checkout terminals, and other comparable technology have all helped retailers increase profit margins in the retail industry.

Furthermore, due to the rising acceptance of NFC technology in many devices, such as POS systems and smartphones, NFC penetration in the sector is likely to accelerate in the future years. This enables retailers to combine these devices with current portable devices, reducing the overall cost of label installation. This is a major factor in the market's expansion.

However, for disorganized merchants, the adoption of ESL technology may appear pricey, as a retailer must build more electrified shelves to be qualified for ESL tags, which increases installation costs. Furthermore, before installing any technology, retailers/companies always assess the benefits, particularly their capital and the time required for a return on investment (ROI). The cost of technology is a substantial barrier to an unstructured retail market in economically developing nations like South Korea and India. The deployment of these labels also requires supporting infrastructure, which requires large expenditures from small and medium-scale shops. The aforementioned factors may hinder the market growth. 

ESL solutions based on e-paper are predicted to have the largest market share by type. The ability of e-paper to project items in graphical form, combined with the possibility of improved energy efficiency, contributes to the segment's market dominance. For ESL offerings, market participants are projected to favour e-paper. Innolux Corporation and E Ink Holdings Inc., for example, cooperated in May 2020 to produce large-scale Advanced Color ePaper panels. Through this agreement, the companies want to strengthen the e-paper ecosystem and grow the e-paper business. These e-papers will primarily be utilized for in-vehicle advertising and retail advertising, among other applications.

Graphic E-paper is expected to capture the market share due to its high contrast capabilities and vast viewing angles, as well as reflecting technology with a maximum white background.

During the projected timeframe, the near-field communication segment is expected to develop at the fastest rate by technology. The rise of this market can be attributed to product improvements based on near-field communication technology and OEMs' preference for developing 2-way communications systems that maintain price integrity for retailers. The usage of NFC for electronic shelf labels is rising in the retail industry due to the rise in NFC-enabled smartphone technology, as it is cost-effective and energy-efficient. NFC is an embedded technology that employs proximity to simplify transactions, data sharing, and short connections. NFC-enabled digital packages and signs can provide clients with timely product details and a real-time digital offer before purchase.

From 2020 to 2027, the hypermarket sector is expected to hold the greatest share of the retail electronic shelf label market. The difficulties of manually managing huge stores have contributed to the expansion of this market. As a result, computerized shelf labels are becoming more widely used in hypermarkets to streamline shop operations. Hypermarkets can change prices as well as other commodity-related information in less time by using these labels. Electronic shelf labels enhance real-time merchandise positioning that lets big retailers like Kroger, Walmart, Tesco, Kohl's, Carrefour, and Cora Hypermarkets run smoothly.

Because nations like Germany and France were early adopters of ESL in the region, Europe is expected to hold the highest share of the industry. Electronic shelf labels were originally introduced in 1991 in France. As a result, Europe has a head start in the market, and it is predicted to account for the largest share of the overall market. Market expansion in the region is likely fueled by government laws and regulations. In France, for instance, the French Parliament approved a Consumer Code stipulating that the price of goods, including shipping and postal costs, must be explicit & transparent to customers. Any business that fails to offer accurate pricing information will bear the effects.

Recent Development

E Ink Holdings, the world's leading innovator of electronic ink technology, announced an agreement with DATA MODUL, one of the world's leading providers of the display, touch, embedded, monitor, and panel PC solutions, for DATA MODUL to be a reseller, focusing on the industrial, IoT, medical, and retail markets in the US and Europe, in April 2021.

In November 2020, E Ink Holdings Inc. collaborated with Yes Optoelectronics Co. Ltd. to manufacture ELSs. Production, R&D in E-paper-related elements, essential materials, and marketing are all priorities for the cooperation.

Pricer announced in July 2020 that the Canadian Tire Dealer Association (CTDA), a dealer network with about 500 locations across the country, has entered a Master Framework Agreement with Pricer as the exclusive supplier for its ESL systems. Further, Pricer Plaza, a new and improved architecture for smart retail in-store services and business models, was unveiled in February 2020.

COVID-19 Impact

COVID-19 had a resilient impact on the ESL market. According to Pricer's Electronic Shelf Label Survey, 100% of respondents had issues with COVID-19, including a shortage of workforce, increased consumer demand, and out-of-stock shelves. The temporary closure of manufacturing operations disrupted global supply networks, which impacted total market growth. The overall market conditions deteriorated as a result of the shutdown of industrial facilities, limits on public transportation reducing footfall in retail outlets, and trade barriers. Following the relaxation of the imposed lockdowns and the reopening of industries, the industry recovered momentum.  With expanding e-commerce sector leaders implementing new technology at distribution centres, the market is anticipated to rise during the forecast period.

Electronic Shelf Label Market Scope:

Report Metric Details
 Market size value in 2020  US$1,053.980 million
 Market size value in 2027  US$2,890.406 million
 Growth Rate  CAGR of 15.50% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Million
 Segments covered  Type, Technology, Component, End-User, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Altierre Corporation, Pricer AB, SES-imagotag, Diebold Nixdorf Incorporated, Displaydata Ltd., E ink Holdings, Samsung Electro-Mechanics
 Customization scope  Free report customization with purchase

 

Segmentation

  • By Type
    • LCD Based Label
    • E- Paper Based Label
      • Segmented Label
      • Full-Graphic Label
  • By Technology
    • Infrared
    • Near Field Communication
    • Radio Frequency
    • Bluetooth
  • By Component
    • Display
    • Battery
    • Software
    • Others
  • By End-User
    • Supermarket
    • Hypermarket
    • Pharmacy
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Indonesia
      • Thailand
      • Taiwan
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the electronic shelf label market size by 2027?
A1. The global electronic shelf label market is projected to reach a total market size of US$2,890.406 million in 2027.


Q2. What are the growth prospects for the global electronic shelf label market?
A2. The electronic shelf label market is projected to expand at a CAGR of 15.50% during the forecast.


Q3. What is the size of the global electronic shelf label market?
A3. Electronic Shelf Label Market was valued at US$1,053.980 million in 2020. 


Q4. Which region holds the largest market share in the electronic shelf label market?
A4. Europe is expected to hold the highest share of the electronic shelf market during the forecast period.


Q5. What factors are anticipated to drive the electronic shelf label market growth?
A5. The electronic shelf label market growth is further influenced by the increasing spread of the Internet of Things (IoT) and expanding digitization in the retail sector.

1. Introduction
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation


2. Research Methodology
2.1. Research Data
2.2. Assumptions


3. Executive Summary
3.1. Research Highlights


4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis


5. Electronic shelf label Market Analysis, by Type
5.1. Introduction
5.2. LCD Based Label
5.3. E- Paper Based Label
5.3.1. Segmented Label
5.3.2. Full-Graphic Label


6. Electronic shelf label Market Analysis, by Technology
6.1. Introduction
6.2. Infrared
6.3. Near Field Communication
6.4. Radio Frequency
6.5. Bluetooth


7. Electronic shelf label Market Analysis, by Component
7.1. Introduction
7.2. Display
7.3. Battery
7.4. Software
7.5. Others


8. Electronic shelf label Market Analysis, by End User
8.1. Introduction
8.2. Supermarket
8.3. Hypermarket
8.4. Pharmacy
8.5. Others


9. Electronic shelf label Market Analysis, by Geography
9.1. Introduction
9.2. North America
9.2.1. USA
9.2.2. Canada
9.2.3. Mexico
9.3. South America
9.3.1. Brazil
9.3.2. Argentina
9.3.3. Others
9.4. Europe
9.4.1. United Kingdom
9.4.2. Germany
9.4.3. France
9.4.4. Spain
9.4.5. Others
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.5.2. Israel
9.5.3. Others
9.6. Asia Pacific
9.6.1. China
9.6.2. Japan
9.6.3. India
9.6.4. South Korea
9.6.5. Indonesia
9.6.6. Thailand
9.6.7. Taiwan
9.6.8. Others 


10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix


11. Company Profiles 
11.1. Altierre Corporation
11.2. Pricer AB
11.3. SES-imagotag
11.4. Diebold Nixdorf Incorporated
11.5. Displaydata Ltd.
11.6. E ink Holdings
11.7. Samsung Electro-Mechanics
11.8. Opticon Sensors Europe B.V
11.9. M2COMM
11.10. Teraoka Seiko Co., Ltd.
11.11. Huawei Technologies Co. Ltd.

Altierre Corporation

Pricer AB

SES-imagotag

Diebold Nixdorf Incorporated

Displaydata Ltd.

E ink Holdings

Samsung Electro-Mechanics

Opticon Sensors Europe B.V

M2COMM

Teraoka Seiko Co., Ltd.

Huawei Technologies Co. Ltd.

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