Electronic Shelf Label (ESL) Market: Current Analysis and Forecast (2021-2027)

Electronic Shelf Label (ESL) Market: Current Analysis and Forecast (2021-2027)

A growth in the retail sector coupled with the surging number of hypermarkets/supermarkets is leading to the growing demand for electronic shelf life. Retail organizations equip themselves with the best strategies and latest technologies to get ahead in the pricing war. Yet, so far, few retailers have capitalized on the advantages offered them by leveraging data-driven price optimization coupled with electronic shelf labels (ESLs). electronic shelf labels will help retailers become better prepared for today and better positioned for tomorrow. When a retailer leverages ESLs to remove the manual limitation, they can realize a much faster ROI and substantially higher profit potential – up to 33% more profit value potential.

Electronic Shelf Labels (ESLs) are on the rise in retail due to IoT expansion. Traditional ESL deployment is expensive. It uses wireless, and additional ESL networks that require separate maintenance systems. As per Huawei, ESL Lowers the Total Cost of Operation (TCO) by 30% and reduces Operations and Maintenance (O&M) costs by combining Wi-Fi and RFID into one converged network. Dynamic adjustment and updating improve inventory management and pricing accuracy.

The Global Electronic Shelf Label (ESL) market is expected to register a CAGR of around 20% over the period of 2021-2027. The emerging retail sector and growing automation are some of the prominent factors contributing to the market growth. Emerging industry 4.0 in across the globe for automation and smart management is expected to accelerate the global shelf label market. Changing customer preferences toward online retail have resulted in increased competition among brick & mortar retailers, supporting the adoption of ESL for enhancing customer experience and increasing sales revenue. Retailers, such as discounters, department stores, specialty stores, and convenience stores, have increased their reliance on ESL technology.

Further, the rising need for increasing in-store operational efficiency in retail stores is positively impacting the market demand. The implementation of an electronic shelf label system allows retailers to save time and actively guide customers in the store. ESL system helps store chains in dynamic and strategic price management and automatically updates price display. With retailers focusing on improving consumers’ shopping experience, the demand for ESL to keep pace with product inventory and ensure the right merchandise will increase.

SES-imagotag, Pricer, E Ink Holdings, Displaydata, M2Communication, Samsung Display Solutions, Diebold Nixdorf, Opticon Sensors Europe, Teraoka Seiko, NZ Electronic Shelf Labelling LLC, etc., are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst product type, full graphic e-paper category accounted for the majority share in the market in 2020”

Based on the product type, the market is fragmented into full-graphic e-paper, segmented e-paper, and liquid crystal displays. The full graphic e-paper segment grabbed the major market share in 2020. growing e-commerce sector adopting advanced technologies at distribution facilities to streamline operations and timely dispatch of items to ensure customer satisfaction
"Amongst components, display segment is expected to witness highest CAGR during the forecast period”

Based on the component, the market is fragmented into displays, batteries, transceivers, microprocessors, and others. The display segment grabbed a significant market share in 2020. The wide availability of players offering the display at a reasonable price is leading to the growth of the market
"North America to witness significant growth during the forecast period”

For a better understanding of the market adoption of the Electronic Shelf Label (ESL) market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The Europe region grabbed the major market for the Electronic Shelf Label (ESL) Market industry in 2020. However, the Asia Pacific region would witness a considerable CAGR during the forthcoming years.

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