At 16.7% of CAGR, Electronic Shelf Label Market Expected to Reach $2.16 Billion By 2026 | Recent Developments and Key Factors that Drives the Market Growth
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The electronic shelf label (ESL) system is used for displaying product pricing on shelves. It utilizes wireless communication networks such as radio frequency (RF) technology and infrared (IR) technology to communicate with the back-end database. Electronic display modules are basically attached to the front edge of retail shelving. The automatic updating of product pricing is done whenever a price is changed from a central control server. These labels eliminate the discrepancies in selling price of the products and displays reliable pricing to the customers.
The ESL system has a wide range of applications in various stores such as hypermarkets, supermarkets, non-food retail stores, specialty stores, and others.
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The trending automation in retail segment is the key factor that drives the growth of the electronic shelf label market. Moreover, the necessity for more cost-efficient and less time-consuming alternative to paper labels fuels the market growth. In addition, increased operational efficiency with real-time product positioning due to the utilization of electronic shelf label boost the market growth. However, high expenses of installation and supporting infrastructure restrain the market growth. Moreover, low return on investment is also expected to impend the growth of the electronic shelf label market.
The electronic shelf label market is highly competitive and the key strategies adopted by the key players are new product launch, product development, business expansion, merger, and acquisition. For instance, in January 2019, SES-imagotag partners with Ossia to develop wireless charging smart digital labels. Wireless charging is a key enabler to the extensive use of retail IoT solutions such as smart electronic shelf labels. Label lifetimes can expand their capacity of coin cell batteries through wireless power. The software applications that are based on smart ESLs, which were previously restricted by energy consumptions will be fully usable in-store.
Some of the major factors that drive the growth of the electronic shelf label market include rise in trending automation in retail segment, increase in need for cost-efficient and less time-consuming alternative to paper labels, and increased operational efficiency with real-time product positioning. However, high costs of installation and supporting infrastructure restrain the market growth. Each of these factors is anticipated to have a definite impact on the electronic shelf label market during the forecast period.
The major companies profiled in the global electronic shelf label industry include Pricer, SES-imagotag, Samsung Electro-Mechanics, E Ink Holdings, Displaydata, M2Communication, Diebold Nixdorf, Opticon Sensors Europe, Teraoka Seiko, NZ Electronic Shelf Labelling, and others.
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Key Benefits For Stakeholders:
o This study comprises analytical depiction of the global electronic shelf label market trends with current trends and future estimations to depict the imminent investment pockets.
o The overall potential is determined to understand the profitable trends to gain a stronger foothold.
o The global electronic shelf label market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
o The current market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
Key Market Segments:
By Product Type:
2. Segmented E-Paper
3. Full-Graphic E-Paper
By Communication Technology:
1. Radio Frequency
3. Near Field Communication
By Store Type:
3. Non-Food Retail Stores
4. Specialty Stores
1. North America
3. Rest of Europe
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Electronic Shelf Label Market, By Product Type
Chapter 5: Electronic Shelf Label Market, By Component
Chapter 6: Electronic Shelf Label Market, By Communication Technology
Chapter 7: Electronic Shelf Label Market, By Store Type
Chapter 8: Electronic Shelf Label Market, By Region
Chapter 9: Competitive Landscape
Chapter 10: Company Profile
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