At 16.70% CAGR, Electronic Shelf Label Market to Hit $2.16 billion by 2026

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Electronic Shelf Label
Electronic Shelf Label

The Electronic Shelf Label Market size was valued at $624.70 million in 2018, and is projected to reach $2.16 billion by 2026, growing at a CAGR of 16.70% from 2019 to 2026. The electronic shelf label (ESL) system is used for displaying product pricing on shelves. It utilizes wireless communication networks such as radio frequency (RF) technology and infrared (IR) technology to communicate with the back-end database. Electronic display modules are basically attached to the front edge of retail shelving. The automatic updating of product pricing is done whenever a price is changed from a central control server. These labels eliminate the discrepancies in selling price of the products and display reliable pricing to the customers. The ESL system has a wide range of applications in various stores such as hypermarkets, supermarkets, non-food retail stores, specialty stores, and others.

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The electronic shelf label market is highly competitive, and the key strategies adopted by the key players are new product launch, product development, business expansion, merger, and acquisition. For instance, in January 2019, SES-imagotag established partnership with Ossia to develop wireless charging smart digital labels. Wireless charging is a key enabler for an extensive use of retail IoT solutions such as smart electronic shelf labels. Label lifetimes can expand their capacity of coin cell batteries through wireless power.

The trending automation in retail industry is the key factor that drives the growth of the electronic shelf label market. Moreover, the necessity for more cost-efficient and less time-consuming alternative to paper labels fuels the market growth. In addition, increased operational efficiency with real-time product positioning due to the utilization of electronic shelf label boost the market growth. However, high installation and infrastructure cost restrain the market growth. Moreover, low return on investment is also expected to hamper the growth of the electronic shelf label market.

The electronic shelf label market is segmented based on product type, component, communication technology, store type, and region. Based on product type, the market is categorized into LCD, segmented E-Paper, and full-graphic E-paper. By component, it is divided into displays, batteries, transceiver, microprocessors, and others. Based on communication technology, it is segmented into radio frequency, infrared, near field communication, and others. By store type, it is classified into hypermarkets, supermarkets, non-food retail stores, specialty stores, and others. Based on region, the market is analyzed across Europe, Asia-Pacific, North America, and LAMEA.

The major companies profiled in the global electronic shelf label industry include Pricer, SES-imagotag, Samsung Electro-Mechanics, E Ink Holdings, Displaydata, M2Communication, Diebold Nixdorf, Clearink Display, Opticon Sensors Europe, and NZ Electronic Shelf Labelling.

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KEY MARKET SEGMENTS
BY PRODUCT TYPE
• LCD
• Segmented E-Paper
• Full-Graphic E-Paper

BY COMPONENT
• Displays
• Batteries
• Transceiver
• Microprocessors
• Others

BY COMMUNICATION TECHNOLOGY
• Radio Frequency
• Infrared
• Near Field Communication
• Others

BY STORE TYPE
• Hypermarkets
• Supermarkets
• Non-Food Retail Stores
• Specialty Stores
• Others

BY REGION
• North America
o U.S.
o Mexico
o Canada
• Europe
o Germany
o France
o UK
o Rest of Europe
• Asia-Pacific
o Japan
o China
o South Korea
o Singapore
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East & Africa

KEY PLAYERS
• Pricer
• Displaydata
• E Ink Holdings
• Samsung Electro- Mechanic
• Diebold Nixdorf (NYSE:DBD)
• Altieer
• SES-imagotag
• Clearink Display
• Opticon Sensors Europe
• NZ Electronic Shelf Labelling

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