Report : Electronic Shelf Label Market to 2027 - Global Analysis and Forecasts 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)
The electronic shelf label market on a global scenario was valued at US$ 406.6 Bn in 2018; it is expected to grow at a CAGR of 16.8% during the forecast period, to reach US$ 1,606.8 Bn by 2027.
Retailers use the electronic shelf label system for displaying product pricing on shelves. This system has benefits such as product pricing are automatically updated whenever a price is changed from a central control server. Hence its gaining popularity and boosting the need for the electronic shelf label market. The rising number of the supermarket, specialty store, and hypermarket are raising demand for the electronic shelf label market. US, China, Germany, France, and Japan are five major countries contributing to the highest revenue share in the electronic shelf label market.
The European region led the electronic shelf label market in 2018 and is projected to maintain its dominance over the forecast period 2019-2027. In the European market, digitization is making its significance in grocery stores. Some of the largest retail companies present in European territory are Ahold Delhaize, REWE Combine, Tesco PLC, IKEA Group, Inditex, LVMH Moët Hennessy-Louis Vuitton S.A., Carrefour, and Auchan Holding SA among others. Also, mentioned retail stores are amongst the top 25 retailers of the region; therefore, the installation of advanced IoT technologies would be gaining high momentum. Moreover, small retail traders such as mom and pop stores, corner shops endure being an optimistic entrepreneur in the region. Several new shops and retail stores are emerging in the region owing to the rising purchasing capacity of the masses.
The electronic shelf label market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. The Asia Pacific is projected to be the fastest-growing region in the global electronic shelf label market. Whereas, Europe, followed by North America, holds the highest market share in the electronic shelf label market in 2018.
APAC is the fastest-growing electronic shelf label market worldwide. 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 retailer owners with an opportunity to optimize their store management processes while reducing price-related grievances. These solutions offer owners the guidance to place items on appropriate shelves that improves shelf management efficiency. Such a positive outlook of the retail industry in Asian countries is projected to upsurge the growth of retail stores, and therefore, the installation of ESL would grow.
Some of the other notable players in the global electronic shelf label market include Altierre Corporation, Diebold Nixdorf Incorporated, Displaydata Limited, E Ink Holdings Inc., M2Communication, NZ Electronic Shelf Labelling, Opticon Sensors Europe BV, Pricer, Samsung Electro-Mechanics, Ses-Imagotag, Teraoka Seiko, among others.
Electronic Shelf Label Market - Geographic Breakdown, 2018
The report segments the global electronic shelf label market as follows:
Global Electronic Shelf Label Market - By Component
Global Electronic Shelf Label Market - By Product Type
Global Electronic Shelf Label Market - By Store Type
Global Electronic Shelf Label Market - By Communication Technology
Global Electronic Shelf Label Market - By Geography
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