Electronic Shelf Label Market Size By Product (LCD ESL, Segmented E-Paper ESL, Full Graphic E-Paper ESL), By Technology (RF, IR, NFC), By Application (Industrial, Commercial [Hypermarket, Supermarket, Non-Food Retail]), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Apr 2020  |  Report ID: GMI1136  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 290   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Electronic Shelf Label Market size exceeded USD 1 billion in 2019 and is poised to grow at 10% CAGR between 2020 and 2026. The global industry shipments are anticipated to reach 600 million units by 2026.
 

The growing trend of automation in the retail sector is a major factor driving the market growth. The electronic shelf label solutions provide accuracy and flexibility at the edge shelf, enabling retailers to gain a competitive advantage. Centralized control enables easy updates of newly entered information throughout the network of displays while ensuring uniformity in operations.
 

Several manufacturers are offering reliable communication, and low installation costs for agile store operations. Electronic shelf labels (ESL) offer customers with precise pricing of the products and enable better purchasing decisions.
 

Electronic Shelf Label (ESL) Market

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The IoT technology has gained prominence over the recent years and will boost the electronic shelf label market demand. IoT-enabled devices collect data from smart shelves and transmit it to the central server management system, aiding in precise retail analytics. These devices can help supermarkets understand consumers’ preferences for items and help in arranging them on display accordingly.
 

The installation of label can be cost-intensive, restricting small stores from adopting these labels, hampering the market growth. Furthermore, declining market revenue of retail enterprises will restrict them from adopting advanced systems.
 

Electronic Shelf Label Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 1 Billion
Historical Data for: 2015 to 2018 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 10% 2026 Value Projection: USD 2 Billion (2026)
Pages: 290 Tables, Charts & Figures: 596
Geographies covered (20): U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, South Korea, Singapore, Malaysia, Brazil, Mexico, UAE, South Africa, Saudi Arabia,
Segments covered: Product, Technology, Application, and Region
Companies covered (16): Advantech Inc., Altierre Corporation, Displaydata Limited, E Ink Holdings Inc., Herbert Retail Limited, Hanshow Technology Co., Ltd, LG Innotek, M2COMM, Opticon Sensors Europe B.V., New Zealand Electronic Shelf Labelling Ltd., Diebold Nixdorf, Incorporated, Teraoka Seiko Co., Ltd., SoluM, SES-imagotag, Samsung Electronics Co. Ltd., and Pricer AB
Growth Drivers:
  • Growing competition among the retailers to provide elevated customer experience
  • Government initiatives towards the adoption of technology in North America and Europe
  • Adoption of ESL in industrial applications in the U.S.
  • Growing need for increasing in-store operational efficiency in retail stores in Germany
  • Adoption of time and cost-efficient alternatives in retail in Asia Pacific
  • Precise product pricing norms in India and China
  • Flourishing retail sector with expansion of leading retailers in Asia Pacific
  • Rise in demand for the solutions from retail industry in Latin America
  • Expanding retail sector in Middle East & Africa
Pitfalls & Challenges:
  • High initial investments for unorganized retailers
  • Low labor wages and lack of skilled labor force
  • Impact of Coronavirus (COVID-19) pandemic

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Growing demand for full graphic e-paper ESLs due to improved visibility and low-power consumption features

The full graphic e-paper electronic shelf labels will witness high demand in the coming years. This can be attributed to enhanced visibility and wide viewing angles provided by them. The wide range of viewing angles of electronic shelf label tags enable customers to easily read the top & bottom shelves.
 

Full graphic e-paper ESL segment enable the deployment of price and promo strategies with consistency, agility, and speed to gain an advantage over competitors. These labels can be used to highlight promos and send personalized & rewarding offers to the customers’ smartphones based on their consumer behavior analytics.
 

Companies such as E Ink Holdings provide multi-color graphic Electronic shelf label tags to highlight promotions and sale items. Ease-of-maintenance and longer battery life are also key factors contributing to the segment growth.
 

Growing trend of retail automation will surge the demand for advanced digital solutions from the commercial sector

Russia electronic shelf label market by application

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The commercial sector accounts for majority of electronic shelf label market share and is estimated to register around 9% growth till 2026. Although e-commerce sector is predicted to grow steadily, the physical store will remain an important element of differentiation as it continues to be the tailored point of contact between in-store sales advisors and customers.
 

The flourishing retail sector globally is demanding advanced electronic shelf label to cater the increasing market demands. Consumers demand a sophisticated shopping experience, thereby encouraging hypermarkets and retailers to transform traditional stores into digitally connected stores. Access to real-time in-stock status provided by these labels will boost the market revenue.
 

The labels also eliminate the difficulties that arise while handling hypermarkets due to wide range of commodities available. The labels enable ease of management of large stores by providing a central management system.
 

Upsurge in the demand for NFC enabled electronic shelf labels that provide enhanced shopping experience

The NFC technology segment is set to observe 10% gains through 2026. NFC technology enables contactless and fast data transfer between devices, thereby encouraging manufacturers to integrate the technology into their products.
 

NFC capability has become one of the standard features in several smartphones. The increasing adoption of smartphones with NFC enabled technology is driving the market demand for NFC-enabled electronic shelf labels This will initiate a seamless transaction at high-speed, which will help retailers to reduce the waiting time of their customers.
 

Retailers are focused on increasing their customer base while retaining the existing customers. The labels with advanced technology such as NFC aid in enhancement of customer engagement. Smartphones can be connected to NFC-enabled ESLs to provide a more customized, informed, and interactive shopping experience. Retailers can synchronize the prices between the shelf and the cash register to avoid delays and price mismatches.
 

Europe electronic shelf label market will witness growth due to high labor costs and rapid technological adoptions in the region

Europe electronic shelf label market by country

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The Europe market size is expected to expand over 3% CAGR during the forecast timespan due to presence of prominent industry players coupled with rapid growth in retail sector across the region.
 

According to Wirecard, European retailers currently account for around one-third of all electronic shelf labels in use. The labels are predominantly used in shops across the UK, France, and Germany. Technological adoption across end-use companies in Europe will drive the market growth.
 

Moreover, high labor costs in the European countries is a crucial factor favoring the industry growth. The adoption of these labels will increase the ROI for retailers by minimizing human involvement.
 

Industry players are manufacturing technologically advanced products to strengthen their market presence

Major players in the ESL market are focusing on integrating technology such as AI and Bluetooth with their products to offer enhanced customer engagement services to retail owners.
 

Key industry players include Advantech Inc., Altierre Corporation, Displaydata Limited, E Ink Holdings Inc., Herbert Retail Limited, M2COMM, Opticon Sensors Europe B.V., Diebold Nixdorf, Incorporated, Teraoka Seiko Co., Ltd., SoluM, SES-imagotag, Samsung Electronics Co. Ltd., and Pricer AB. The market players are benefiting from the growth in global telecom sector.
 

The electronic shelf label market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2015 to 2026, for the following segments:
 

Market by Product

  • LCD ESL
  • Segmented e-paper ESL
  • Full graphic e-paper ESL

Market by Technology

  • RF
  • IR
  • NFC
  • Others

Market by Application

  • Industrial
  • Commercial
    • Hypermarket
    • Supermarket
    • Non-food retail
    • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Singapore
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
       

Frequently Asked Questions (FAQ) :

According to this research report by GMI, the global industry shipments are anticipated to reach 600 million units by 2026.
The Europe market size is expected to expand over 3% CAGR during the forecast timespan due to presence of prominent industry players coupled with rapid growth in retail sector across the region.
The commercial sector accounts for majority market share and is estimated to register around 9% growth till 2026, as per the analysts at Global Market Insights, Inc.
NFC technology enables contactless and fast data transfer between devices, thereby encouraging manufacturers to integrate the technology into their products, which will drive its demand in the market.

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Premium Report Details

  • Published Date: Apr 2020
  • Pages: 290
  • Tables: 569
  • Charts / Figures: 27
  • Companies covered: 16
  • Countries covered: 20

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