New York, Dec. 19, 2022 (GLOBE NEWSWIRE) — According to The Insight Partners “Electronic Shelf Label Market Size, Share, Growth, Trends, Technology Forecast to 2027 – COVID-19 Impact and Global Analysis By Components (Displays, Batteries, Transceivers, Microprocessors, Others); Product Type (LCD ESL, E-Paper based ESL); Store Type (Hypermarkets, Supermarkets, Non-Food Retail Stores, Specialty Stores, Other); Communication Technology (Radio Frequency, Infrared, Near Field Communication, Others); and Geography”; the global electronic shelf label market size was valued at USD 0.46 Billion in 2019 and is projected to reach USD 1.57 billion by 2027; it is expected to grow at a CAGR of 16.9% from 2020 to 2027.
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Global Electronic Shelf Label Market Study, Size, Share, Segmentations and Regional Scope:
|Market Size Value in||USD 0.46 Billion in 2019|
|Market Size Value by||USD 1.57 Billion by 2027|
|Growth rate||CAGR of 16.9% from 2020-2027|
|No. of Pages||158|
|No. of Tables||110|
|No. of Charts & Figures||93|
|Historical data available||Yes|
|Segments covered||Components; Product Type; Store Type; Communication Technology; and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Global Electronic Shelf Label Market: Competitive Landscape and Key Developments
LabelNest, Diebold Nixdorf Incorporated, Displaydata Limited, E Ink Holdings Inc. M2Communication, NZ Electronic Shelf Labelling, Opticon Sensors Europe BV, Pricer,Samsung Electro-Mechanics, Ses-Imagotag, and Teraoka Seiko are among the key players operating in the electronic shelf label market.
In 2020: Co-op Group expanded its partnership with Diebold Nixdorf to include remote monitoring of self-service and point-of-sale (POS) systems and managed services throughout the United Kingdom.
In 2019: Tosano placed an order to equip all of its stores with digital price label system provided by Pricer. Tosano would integrate advanced digital solutions of Pricer including dynamic product positioning and InstantFlash functionality. Under the partnership, Tosano aims to integrate shelf-mounted camera of Pricer’s into the solution to enhance efficiency of in-store processes based upon data analytics.
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Electronic shelf label is receiving high momentum across the world. Upsurge in the use of IoT within retail industry is fuelling the growth of the market. In the era of continuous technological development, automation is gaining high momentum in the retail industry. Automation in the retail industry has benefitted retailers on a large scale by reducing human errors. The retail industry is focusing on lowering total operational costs by removing manual operations in stores related to stock, changing prices, and more. Therefore, the demand for automation solutions throughout the retail industry is rising. Henceforth, the concept of automation also includes the utilization of ESLs in retail stores with an aim to eliminate the maximum percentage of manual tasks, which will help in lowering overheads. With the growth in brick and mortar stores owing to the rise in population growth, the retail stores are expanding globally. The retail stores such as supermarkets, hypermarkets, and specialty stores are growing across the globe; therefore deployment of ESL in respective stores is anticipated to increase. Moreover, the implementation of digital price tags within retail stores facilitates dynamic and omnichannel pricing. Thus, the features mentioned above help in boosting the adoption of ESLs among retail stores.
The global electronic shelf label market is segmented on the basis of component, product type, store type, and communication technology. Based on component, the electronic shelf label market is segmented into displays, batteries, transceivers, microprocessors, and others. In terms of product type, the electronic shelf label market is segmented into LCD ESL, and E-Paper based ESL. Based on store type, the electronic shelf label market is segmented into hypermarkets, supermarkets, non-food retail stores, specialty stores, and other. Based on communication technology, the market is segmented into radio frequency, infrared, near field communication, and other. Based on region, the electronic shelf label market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).
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APAC Electronic Shelf Label Market to Grow at Highest CAGR during (2020-2027):
The retail in Asian economies is booming at an exponential rate. Owing to rising demand for consumer goods such as home appliances and consumer electronics, various companies are looking ahead to make a significant investment in the Indian retail space — for instance, Walmart Investments Cooperative U. A has spent US$ 37.68 million (Rs 2.75 billion) in Wal-Mart India Pvt Ltd. Moreover, the country’s retail industry has witnessed an increase in investments to reach US$ 180.18 million (Rs 1,300 crore) in 2018. In addition to this, Max Hypermarket India partnered with Auchan Group, a French retail giant, to establish franchise hypermarket stores in India. Both retailing companies have planned to open 12–15 new stores annually throughout various states in India.
Further, owing to the presence of consumer electronics manufacturers in China, South Korea, Taiwan, and others, the scenario of the retail industry is changing. Samsung is one of the players in the ESL market. The booming retail industry supports the consumption of highly advanced ESLs. Also, Hanshow has developed a smart ESL solution that provides retail owners an opportunity to optimize their store management processes while reducing price-related grievances. These solutions offer guidance to the owners in placing items on appropriate shelves that improves shelf management efficiency. Such a positive outlook of the retail industry in Asian countries is projected to surge the growth of retail stores; therefore, installation of ESL would grow. Extreme effect of COVID-19 in the region has also changed customer purchasing behavior from offline to online mode. For instance, 53% increase in e-commerce is reported in India during the pandemic. The move from offline stores to online sales by the population across the region is projected to have a negative effect over the years on the electronic shelf mark across the region.
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Key Findings of Study:
Technology is projected to be the key driver of industry transformation. The success of the industry participants highly depends upon the relentless focus on the application of various technologies for enhancement of the value-added services to consumers. Advanced technologies have played a critical role in the transformation of retail. For instance, Pricer provides ESL enabled with Bluetooth technology that helps consumers to have an access on product information. Over the next ten years, all these technologies are expected to attain significant maturity in the retail industry, creating an unprecedented level of disruption. In particular, artificial intelligence is predicted to be most transformational for the retail industry due to its widespread applications, ability to drive efficiencies and impact on labor. IoT in retail would have a positive impact on the retail sector. With the rapid growth in the outlook of online shopping, retailers are looking forward to bring frictionless customer experience into online shopping for customers. The use of IoT in retail is growing at an exponential rate; therefore, both retailers and technology developers are looking forward to providing an environment of the connected consumer in brick-and-mortar locations. Therefore, the ESL developers are working closely to develop more technologies through robust R&D such as development of ePaper and battery free-solutions.
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