Electronic Shelf Labels Market to Showcase Attractive Growth Opportunities Worldwide

Electronic shelf label market predominantly caters to the retail store businesses to provide electronic product displays instead of paper tags and labels. Electronic shelf labels are featured with relatively high durability, long life cycles, replaceable batteries, and can be updated from time to time with minimum efforts. These ESL system architecture in a store comprises of displays, bi-directional communication systems, central control system, and software to support store-wide management and implementation of the ESL environment. Products are additionally featured with real-time product positioning systems, flash lights to promote high discount products and different forms of wireless communication systems (Bluetooth, infrared, ZigBee, NFC, and Wi-Fi, among few others) based on the requirements.

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The global electronic shelf label market was valued at US$ 366.8 million in 2016 and is expected to witness a CAGR at 12.9% during the forecast period (2017 – 2025).

Market Dynamics

Major factor contributing the business dynamics of the electronic shelf label market are the precise product pricing norms existing across economies for the protection of consumer rights and requirement to reduce additional time and cost investments in the conventional paper labeling methods. Moreover, these products are featured with high visibility range and better product promotional ability that enhances the product up-lift probability, merchandising capability, and in-store product pricing strategy to improve its sales. High initial costs of the overall installation and the low skilled workforce availability are the major factors that will continue to hamper the industry growth.

Significant decline in the overall ESL pricing has led to delayed investments in the products, is expected to be the major factor hindering the overall industry growth

According to an industry expert interview in 2016, retailers were expecting significant decline in the cost of the ESLs owing to the declining costs of electronic products and displays. However, this has led to considerable delay in the investment plans of the major retail chains across the globe. This was a major factor that led to considerable decline in the product demands, hampering the present growth. However, electronic shelf label market will witness strong growth and value over 5X times the market size in 2016, by 2025.

Europe is expected to dominate the overall electronic shelf label market share owing to the large adoption rates

SES Imagotag and Pricer AB that held the significant industry share are based in Europe. Moreover, relatively high penetration in the regional retail business that specifically include France, Italy, Belgium, Germany and other countries in Central Europe, are expected to garner the industry with around 12.8% CAGR over the forecast period. As a matter of fact, SES-imagotag registered annual sales of around US$ 80 million in 2016, in France alone, according to their annual financials. In terms, of market size, Europe will be followed by North America, and Asia Pacific, acquiring second largest and third largest electronic shelf label market share respectively. U.S., Canada, Japan, Australia, China are among the major countries that are expected to present potential growth demand over the next few years. According to Coherent Market Insights analysis, Asia Pacific is expected to witness highest growth rates over the forecast period, primarily owing to the large revenue potential and increasing multi-channel retailing operations in the India, China and the ASEAN countries.

Electronic Shelf Label (ESL) Market: Enabling stores to electronically update prices

Electronic shelf labels are the small display units utilized for the price display, predominantly in retail stores that include food, electronics, do it yourself (DIY), gardening, cosmetics, drugstore, and industrial applications among few others. These products are featured with centrally controlled price upgrade across the store, which helps in reducing considerable amount of effort, waste management and time that can be utilized for enhancing the consumer engagement and satisfaction. High-speed updates of pricing, promotional messaging, increased readability and contrast of distinct ESL products also help in improving the product up-lift and store margins. Growing demands for retail automation across the globe and the convenience offered by these products are expected to be among the prominent factors driving the electronic shelf label market growth.

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Detailed Segmentation:

Global Electronic Shelf Labels Market, By Technology Type:
◦ RF
◦ IR

Global Electronic Shelf Labels Market, By Product Type:
◦ LCD
◦ Full graphic e-paper ESL
◦ Segmented e-paper ESL

Global Electronic Shelf Labels Market, By End Use:
◦ Supermarket and hypermarket
◦ Convenience stores and departmental stores
◦ Others

Global Electronic Shelf Labels Market, By Geography:
◦ North America
◦ Europe
◦ Asia-Pacific
◦ Latin America
◦ Middle East
◦ Africa
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This release was published on openPR.