Electronic Shelf Label (ESL) Market in Europe - Industry Outlook and Forecast 2019-2024
The Europe electronic shelf label market (ESL market) is expected to grow at an impressive CAGR of around 25%during 2018–2024.
The emergence of omnichannel and retail reality, the rise of dynamic pricing, increased retail automation, and the use of green technology in business operations are some of the prominent factors that are expected to contribute to the growth of the Europe electronic shelf label market.
The implementation of sustainability practices, the rise of the predictive data analytics and competitor intelligence, and the emergence and prominence of omnichannel and retail reality are the major factors for the growth of Europe ESL market. The introduction of dynamic pricing in-store through electronic shelf label (ESL) has led retailers to provide a holistic experience to consumers, thereby driving the demand for Europe ESL market. Also, the use of the guided selling model on the consumer’s behavior is likely to fuel the use of ESLs during the forecast period.
The research report on the Europe electronic shelf label market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The study includes insights on market segmentation by displays (LCD(TN LCD, TFT), EPD, and OLED), technology (vendor facing (RF and IR) and customer-facing (BLE, NFC, and others), end-users (supermarkets and hypermarkets, departmental stores, convenience stores, drugstores, and others), and geography (Germany, France, UK, Italy, Spain, Austria, Belgium, Norway, Denmark, Sweden, Finland, Netherlands, and Russia.
The study considers the present scenario of the Europe ESL market and its market dynamics for the period 2018−2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply aspect of the market. It also profiles and examines leading companies and other prominent companies operating in the Europe electronic shelf label market.
Europe ESL Market: Segmentation
This market research report includes a detailed segmentation of the market by displays, technology, end-user, and geography. As the adoption of EPD has gained prominence, it is expected to grow faster than other major display technology in the Europe ESL market during the forecast period. The low power consumption, high visibility, and the paper-like display are the factors that are driving the growth of the EPD displays market among ESL manufacturers. The installation of OLED is expected to rise in premium and luxury brand outlets. The sale of OLED is likely to witness the demand from duty-free stores at airports and luxury mono-brand outlets. The customer-facing ESL segment is growing. As the retail market is witnessing an increase in the labor cost, retailers are switching to centralized labeling systems, which are boosting the electronic shelf label market globally.
The adoption of ESLs is currently driven by hypermarkets, supermarkets, and convenience stores. These stores are looking for better technology to leverage evolving consumer preferences and tackle the growing threat from the e-commerce sector. The high average SKUs and the wide distribution of stores make the introduction of ESLs favorable. These stores help to achieve ROIs in a shorter span than other formats, thereby contributing significantly in the growth of the Europe electronic shelf label market. Carrefour, SPAR, Kaufland, E.Leclerc, Intermarché, and Metro have adopted ESLs with a focus on the European market and Tesco in the UK market. The ability of ESLs to provide detailed information about the product is fostering their demand in departmental stores. Further, the adoption of ESLs in convenience stores is high due to their distributed nature and the need for centralized control centers.
Market Segmentation by Technology
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