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Global Electronic Shelf Label (ESL) System Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Electronic Shelf Label (ESL) System Industry Revenue Was 625 Million USD In 2017
Electronic Shelf Label, also known by the acronym ESL. It is the latest solution for inventory and price management in the retail sector, based on the use of advanced IT technology. ESL replaces conventional paper price tags attached to the shelves of supermarkets and department stores with, for example, LCDs and electronic paper (E-paper) that show information on product price, sales promotions, etc.
The global Electronic Shelf Label (ESL) System industry has reached a shipment of approximately 85.7 million units in 2017. The global Electronic Shelf Label (ESL) System industry has reached the revenue of approximately 625 million USD in 2017. The growth of the Electronic Shelf Label (ESL) System technologies market is also driven by factors, such as an increasing adoption of ESL in the retail industry. However, factors such as high investment and installation cost are hindering the growth of this market.
Electronic Shelf Label (ESL) System is a technology-intensive industry. There are less than twenty manufacturers in this industry. The top two manufacturers are Store Electronic Systems (imagotag) and Pricer in 2015. The other competitors include Displaydata, E Ink, Opticon Sensors Europe B.V,
DIGI, Altierre, Hanshow Technology and new entrants like Panasonic, LG innotek and SoluM etc. There are also a number of smaller regional companies or companies that are attempting to develop products with a view to establishing a position on the market. With the restructuring of the sector, for example, if one or more competitors were to enter into an alliance with a strong partner, this could constitute a threat to other players in the market. The growth of Electronic Shelf Label (ESL) System industry depends on the acceptance of retail store.
At present, in developed countries, the Electronic Shelf Label (ESL) System industry is generally at a more advanced level. The world's largest enterprises are mainly concentrated in Europe. Meanwhile, foreign companies have more advanced R & D capability and leading technical level. However, foreign companies’ manufacturing cost is relatively higher, compared with Asia companies.
China’s Electronic Shelf Label (ESL) System industry is still an undeveloped market. China is a large population country, there are only few manufacturers which can produce the Electronic Shelf Label (ESL) System product. With the popularity of NFC Smartphone, more and more supermarket and retail stores choose the ESL, which is cost effective and more convenient.
In the coming years, Electronic Shelf Label (ESL) System market is expected to witness the highest growth rate in the Asia-Pacific region, especially in China. China has about 100 thousand chain supermarket and the penetration rate of ESL is only 1~2%.Although Electronic Shelf Label (ESL) System brings a lot of opportunities, the study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.
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