Electronic Shelf Label Market to grow at 18% CAGR from 2016 to 2024

Electronic Shelf Label Market size is estimated to reach USD 1.25 billion by 2024; according to a new research report by Global Market Insights, Inc.

Regulatory norms for the protection of consumer rights against misleading product pricing will drive the electronic shelf label market size. Additional feature integration such as NFC, geo-mapping, smart flash, wireless communication systems and inventory management is likely to contribute to profitability over the forecast timeframe.

Next generation electronic shelf labels are feature several advanced features such as real-time bi-directional responsive systems, long battery life, merchandising accessories, and indoor mapping and navigation systems to provide enhanced operational scalability, latency, robustness, speed, and security for the users. These features are expected to fuel the overall ESL market share through the coming years.

Indirect factors, such as optimized pricing errors, better price visibility, customer satisfaction, promotional capabilities, and the ability to optimize margins greatly influence the return on investments (ROI). High ROI in short spans and rising demands for automated retail technologies is anticipated to propel the electronic shelf label market size from 2016 to 2024.

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Regulatory mandates for recovery, collection, and recycling of used products due to rising environmental concerns will challenge the industry demand. Waste Electrical and Electronic Equipment (WEEE), Restriction of hazardous substances (ROHS), and Battery Act 1996 are some of the regulatory compliances.

High initial investments, low labor wages in emerging economies and lack of availability of skilled workforce will hamper the electronic shelf label market share over the forecast timeline. An Ohio-based R&D company developed a battery-less electronic shelving system on account of rising need for low power consumption. Technology development and innovation measures are likely to present potential growth opportunities for the electronic shelf label market size from 2016 to 2024.

Segmented e-paper ESL demand will be impacted by inherent limitations of aesthetics, limited color displays and low degree of consumer attraction. This is forecast to be the offset by the favorable electronic shelf label market price trend for this display technology.

RF communication platform demand was over USD 100 million in 2015 and will witness significant gains owing to easy availability and utilization for additional feature integrations. IR communication platform accounted for over 40% of the electronic shelf label market share in 2015. High utilization of these platforms due to its broad range of communication, economical costs, and high security will support the industry demand.

Non-food retail stores include electronic appliances, apparel, jewelry, cosmetics, footwear, sportswear, toys, books, and home furnishings. The segment is expected to exceed USD 200 million by 2024. This can be credited to rising adoption in large & small, and multi chain & single stores to provide a variety of products.

Asia Pacific electronic shelf label market share is expected to present highest growth potential over the forecast timeframe owing to economical costs, huge untapped consumer base and large number of startups surfacing across the region. U.S. electronic shelf label market size is estimated to register high gains at around 18% CAGR, due to the significant retail industry in the region.

Key participants in the industry include SES Imagotag, Pricer AB, Altierre, Displaydata, E Ink Corp., and Wincor Nixdorf. Major players are likely to adopt acquisition of innovative technologies, as a part of the key strategy in the coming years.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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