Electronic Shelf Label Market Share, Business Growth 2020: Statistics and Growth, Regional Analysis, Development History & Forecast

The global electronic shelf label market is set for lucrative growth in the coming years, primarily due to the growing demand for retail automation, rising public awareness about electronic shelf labels, and the ability of these systems to improve the operational efficiency of retail stores and provide real-time product positioning. An electronic shelf label is basically an electronic version of the price tag that utilizes e-ink for displaying a label and is linked to a computer’s database.

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Besides the aforementioned factors, the growing incorporation of the internet of things (IoT) in the retail industry is also driving the growth of the electronic shelf label market. Depending on product type, the market is categorized into segmented e-paper, full-graphic e-paper, and liquid crystal display (LCD). Out of these, the LCD category dominated the market in 2019, and it is predicted to hold the largest share in the market in the coming years.

This is because of the soaring adoption of these systems by small retailers, on account of their low maintenance requirements and costs. Additionally, the various beneficial traits of LCDs such as their low power consumption, fast response time, attractive design, and high image quality, are also contributing toward the growth of the category in the electronic shelf label market. The market is also divided, on the basis of store type, into supermarkets, hypermarkets, specialty stores, and non-food retail stores.

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Out of these, the non-food retail store category will demonstrate the fastest growth in the market in the upcoming years, as per the forecast of the market research firm, P&S Intelligence. This will be because of the rising requirement for electronic shelf labels in these stores. These labels enable automated price tagging and better product management in these stores. Presently, the hypermarkets category is holding the largest share in the electronic shelf label market.

Therefore, it is clear that the market will grow substantially all over the world in the coming years, due to the growing demand for retail automation, rising requirement for advanced technologies in the retail industry, and the various advantages of using electronic shelf labels in retail stores.

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