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Electronic Shelf Label Market Size - By Product (LCD ESL, Segmented E-Paper ESL, Full-Graphic E-Paper ESL), By Technology (Radio Frequency, Infra-Red, Near Field communication), By Application (Industrial, Commercial) & Forecast, 2021 - 2027

  • Report ID: GMI1136
  • Published Date: Jan 2022
  • Report Format: PDF

Electronic Shelf Label Market Size

Electronic Shelf Label (ESL) Market Size exceeded USD 1 billion in 2020 and is projected to expand at over 10% CAGR from 2021 to 2027. The global shipments crossed 200 million units in 2020.

Electronic Shelf Label Market Overview

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The expanding Internet of Things (IoT) industry will offer strong growth opportunities to the electronic shelf label market. IoT involves sensors, actuators, electronics & software, and communication technologies that involve several standards and applications. IoT technology enables a seamless interconnection of several devices, enabling efficient centralized management through a server.

Large retailers in the market can leverage the benefits through IoT-based ESLs to change the product pricing across a chain of stores in different locations, fast and efficiently, using a single software. The expanding e-commerce market globally will further boost the popularity of IoT-based ESLs. Online retailers will increasingly adopt IoT-enabled ESLs to synchronize product prices on e-commerce platforms with physical stores.

The coronavirus pandemic hampered the ESL market growth in the first half of 2020 due to stringent lockdown measures imposed by government administrations globally. The temporary shutting of manufacturing plants hampered the global supply chains, in turn, impacting the overall market expansion. The overall market conditions worsened owing to the closure of industrial facilities, restrictions on public movement reduced footfall in retail stores, and hindrance in the international trade. However, the industry regained traction in the second half of 2020, following the relaxations on the lockdowns imposed coupled with the reopening of industries. The market will witness growth during the forecast timeframe with rising e-commerce industry leaders adopting advanced technologies at the distribution centers.

Electronic Shelf Label Market Analysis

The U.S. full graphic e-paper ESL market size was USD 85 million in 2020 led by the high demand for ESLs from the growing e-commerce sector adopting advanced technologies at distribution facilities to streamline operations and timely dispatch of items to ensure customer satisfaction.

As e-commerce players deal with large quantities of goods at their storage centers, manual labeling techniques become time-consuming. The wrong price may result in dispatch delays, consumer grievances, and higher operating expenses. Full graphic e-paper ESLs ensure crystal clear readability even in dim lighting conditions. ESLs that convert traditional warehouses into a connected digital space will showcase increasing demand during the forecast timeframe.

The NFC technology is expected to observe 10% growth rate through 2027 on account of the increasing popularity of NFC-based payment techniques. Retailers in the market are focusing on adopting self-checkout systems that enable customers to pay instantly while shopping by scanning the ESL using their smartphones.

Electronic labels enable customers to effortlessly attain product data and pay conveniently using NFC cards or mobile phones. Scanning the label leads the customer's smartphone to the product webpage for more information through built-in NFC. The customer can also make payments instantly, eliminating the need to stand in long queues at cash counters. The increasing focus of retailers on maximizing profitability using digital technologies will stimulate the acceptance of electronic labels.

Electronic Shelf Label Market Size

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In Germany, industrial application in the electronic shelf label market is estimated to attain a CAGR of 12% during 2021 to 2027 owing to the strong industrial sector in the region, adopting advanced technologies. The increasing usage of IoT technology in industrial facilities to improve asset tracking will influence the adoption of electronic labels for shelf labeling. The advent of Industry 4.0 has resulted in the increasing penetration of connected devices that can be controlled remotely through a single platform.

Electronic rack labels are a noteworthy factor in attaining an optimized inventory control and management system. The ESL system in current modern warehouses is integrated into a centralized system that includes local servers, centralized servers, and base stations. A wireless network is integrated, enabling wireless connectivity between the ESL and the central system. This also enables authorities to update inventories in real-time. Increasing penetration of IoT in the industrial sector in Germany will propel the industry expansion.

APAC Electronic Shelf Label Market

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Asia Pacific electronic shelf label market held over 30% of revenue share in 2020. The expanding retail sector in countries including India, China, South Korea, Japan, and Singapore will contribute significantly to the acceptance of ESLs, in turn, augmenting the industry demand. The growing popularity of hypermarkets, which is attributed to the improving economic conditions will accelerate ESL demand. Retailers launching a chain of stores and adopting digital solutions to control their operations through a single platform will further impel the industry value. With retailers focusing on improving customer satisfaction with the use of advanced technologies that ensure fast check-outs.

Electronic Shelf Label Market Share

Major companies operating in the ESL market include

  • Advantech Co. Ltd.
  • Diebold Nixdorf
  • Samsung Electronics Co. Ltd.
  • Pricer AB
  • NXP Semiconductors N.V.
  • SES-Imagotag
  • E Ink Holdings Inc.
  • DisplayData Limited
  • Herbert Ltd.
  • LG Innotek
  • Opticon Sensors Europe B.V.
  • SoluM Co. Ltd
  • Hanshow Technology Co. Ltd.

Market participants focus on introducing innovative products to strengthen their position and ensure business growth.

The Electronic Shelf Label (ESL) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 for the following segments:

to Buy Section of this Report

Market, By Product

  • 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 has been provided for the following regions and countries:

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

Frequently Asked Questions (FAQ) :

Market size of electronic shelf label was valued at more than $1 billion in 2020 and is predicted to observe more than 10% CAGR during the forecast period of 2021-2027.
The COVID-19 pandemic severely affected the growth of market size as strict restrictions, such as lockdowns and temporary shutdown of manufacturing plants were imposed in several countries to contain the spread of the virus.
The U.S. full graphic e-paper segment crossed $85 million in 2020 due to the growing popularity of e-commerce platforms and the clear readability offered by graphic e-paper displays to customers in low-light conditions.
The NFC technology is anticipated to witness a CAGR of 10% over 2021-2027 due to the high adoption of NFC-powered payment methods as they offer convenience to customers and retailers while carrying out transactions.
Major companies, such as Advantech Co. Ltd., NXP Semiconductors N.V., Diebold Nixdorf, Pricer AB, Samsung Electronics Co. Ltd., SES-Imagotag, Hanshow Technology Co. Ltd., SoluM Co. Ltd., among many others, are positively influencing industry outlook.

Electronic Shelf Label Market Scope

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 16
  • Tables & Figures: 604
  • Countries covered: 20
  • Pages: 356
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