Electronic Shelf Label Market by Product Type (E-Paper, LCD), Display Type (Full Graphics, Black&White), Component (Hardware, Software), Communication Technology (NFC, Wi-Fi), End User (Retail, Automotive Retail), and Geography - Global Forecast to 2028

Electronic Shelf Labels Market by Product Type (E-Paper, LCD), Display Type (Full Graphics, Black&White), Component (Hardware, Software), Communication Technology (NFC, Wi-Fi), End User (Retail, Automotive Retail), and Geography — Global Forecast to 2028

The research report titled “Electronic Shelf Labels Market by Product Type (E-Paper, LCD), Display Type (Full Graphics, Black&White), Component (Hardware, Software), Communication Technology (NFC, Wi-Fi), End User (Retail, Automotive Retail), and Geography — Global Forecast to 2028”, provides an in-depth analysis of the electronic shelf labels market across five major geographies and emphasizes on the current market trends, market size, market shares, recent developments, and forecast till 2028. The Electronic Shelf Labels Market is expected to reach a value of $2.57 billion by 2028, at a CAGR of 21.8% during the forecast period 2021-2028.

The growth of this market is mainly attributed to the stringent environmental regulations concerning the use of paper, the rising trend of retail automation, and the higher efficiency and time savings feature offered by ESLs compared to traditional paper labels.

The study offers a comprehensive analysis of the electronic shelf labels market with respect to the product type (E-paper, LCD, and TFT), display type (full graphics, black & white, and segmented), component (hardware and software), communication technology (NFC, Wi-Fi, Bluetooth, and RFID), and end user (retail, automotive retail, manufacturing, and other end users), and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on product type, the electronic shelf labels market is segmented into e-paper, LCD, and TFT. The e-paper segment is expected to account for the largest share of the electronic shelf labels market in 2021. The large share of this segment is mainly attributed to their extremely low power consumption, very wide viewing angles, mono and 3-and 4-color options, and paper-like readability under all store lighting conditions. Moreover, e-paper-based ESLs are environment-friendly, cost-effective, then LCD/LED technologies. Moreover, the e-paper electronic shelf labels segment is expected to witness significant growth during the forecast period 2021-2028.

Based on display type, the electronic shelf labels market is segmented into full graphics, black & white, and segmented. The full graphics segment is expected to account for the largest share of the electronic shelf labels market in 2021. The large share of this segment is due to its ability to display the price and facilitate stock management by enabling price updates at any time and simplified customer interactions, reassignments, and firmware updates via a simple tap on an NFC-enabled smartphone. These ESLs are widely used label tags to include promotional ads, customized fonts, barcodes, and QR codes. Moreover, this segment is also expected to showcase the highest CAGR throughout the forecast period.

Based on component, the electronic shelf labels market is segmented into hardware and software. The hardware segment is expected to account for the largest market share in 2021 and the highest CAGR during the forecast period. The factors attributed to this segment's growth are due to its low cost as ESL manufacturers produce a majority of the components in-house, while outsourcing some of the components, such as chipsets, displays, and batteries. Moreover, e-paper-based displays are widely used in terms of display utilization due to low power consumption, paper-like readability, and thinner body. ESL is widely available in different sizes, colors, and graphics depending upon the application it uses.

Based on communication technology, the electronic shelf labels market is segmented into NFC, Wi-Fi, Bluetooth, and RFID. The NFC segment holds the largest market share and is also expected to grow at the highest CAGR during the forecast period. The major factors towards the dominance of this segment as NFC-enabled ESL provides seamless connectivity and personalized customer experience.

Based on the end user, the electronic shelf labels market is segmented into retail, automotive retail, manufacturing, and other end users. Among these end-users, the retail segment is expected to hold the largest market share in 2021. The large share of this segment is mainly attributed to the need to comply with the frequent price changes, complex product specifications, and dynamic offers and discounts. The retail industry is a leading end-user of ESL, with over 60% of the deployments in this sector. Retailers use an ESL system for displaying product pricing on shelves. The product pricing is automatically updated whenever a price is changed from a central control server. However, automotive retail is subjected to showcase the highest CAGR during the forecast period.

Geographically, the market is segmented into five major regions—North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The European region is estimated to account for the largest share of the electronic shelf labels market in 2021. The large share of this region is primarily attributed to the implementation of sustainability practice, the rise of predictive data analytics & competitor intelligence, the emergence and prominence of omnichannel and retail reality. In addition, Government-sponsored funding and the emphasis on the adoption of ESLs are also boosting the European ESLs market. The government has subjected a consumer protection law in the European Union (EU) to adopt retail automation in the region.

The key players operating in the electronic shelf labels market are Teraoka Seiko Co., Ltd. (Japan), Displaydata Limited (U.K.), M2COMM (Taiwan), Mariella Labels OY (Finland), Opticon Sensors Europe B.V. (Netherlands), Pricer AB (Sweden), RAINUS Co., Ltd. (South Korea), SES-imagotag SA (France), SoluM Co., Ltd. (South Korea), Store Intelligence Inc. (U.S.), Zhejiang Hanshow Technology Co., Ltd. (China), Diebold Nixdorf Incorporated (U.S.), NZ Electronic Shelf Labelling (New Zealand), CLEARink Displays, Inc. (U.S.), and E Ink Holdings Inc. (Taiwan).

Key Questions Answered in the Report-

Which are the high-growth market segments in terms of product type, display type, component, communication technology, end user, and geography?
What is the historical market size for the electronic shelf labels market?
What are the market forecasts and estimates for the period 2021–2028?
What are the major drivers, restraints, opportunities, and challenges in the electronic shelf labels market?
Who are the major players in the market, and what share of the market do they hold?
How is the competitive landscape for the electronic shelf labels market?
What are the recent developments in the electronic shelf labels market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the electronic shelf labels market, and how do they compete with the other players?

Scope of the Report


Electronic Shelf Labels Market, by Product Type

E-Paper
LCD
TFT

Electronic Shelf Labels Market, by Display Type

Full Graphics
Black & White
Segmented

Electronic Shelf Labels Market, by Component

Hardware
Display
3-7 Inches
Less than 3 Inches
7-10 Inches
More than 10 Inches
Other Hardware
Software

Electronic Shelf Labels Market, by Communication Technology

NFC
Wi-Fi
Bluetooth
RFID

Electronic Shelf Labels Market, by End User

Retail
Hypermarkets & Supermarkets
Department Stores
Food Retail Stores
Electronics Stores
Pharmacies & Drugstores
Fashion & Clothing Stores
Other Retail Stores
Automotive Retail
Manufacturing
Other End Users

Electronic Shelf Labels Market, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Switzerland
Rest of Europe (RoE)
Asia-Pacific (APAC)
China
Japan
South Korea
India
Singapore
Rest of Asia-Pacific (RoAPAC)
Latin America
Middle East & Africa