[190 Pages Report] The Electronic Shelf Label Market size was estimated at USD 1.57 billion in 2023 and expected to reach USD 1.76 billion in 2024, at a CAGR 13.20% to reach USD 3.74 billion by 2030.
Retail stores use electronic shelf labels (ESLs) to display the prices of their products. Electronic shelf labels are designed to display product information such as the name, price, description, and other relevant data, and they can be easily updated wirelessly and in real time. ESLs consist of a small, battery-powered display attached to the edge of a shelf or a fixture and are controlled by a central server or a cloud-based platform communicating with the labels through wireless technologies, such as Wi-Fi or Bluetooth Low Energy (BLE). Stringent environmental regulation on the usage of paper and plastic is driving retailers worldwide to adopt electronic shelf labels that help in enhancing sales and brand value. The ongoing automation in the retail sector is expanding the adoption of electronic shelf labels across retail stores, such as appliance stores, convenience stores, department stores, and supermarkets. However, high installation and limited supportive infrastructure hamper electronic shelf labels market growth. Increasing the introduction of wireless standards for the electronic shelf label (ESL) is expected to create opportunities for the growth of the market.
The increasing adaptation of automation and Internet of Things (IoT) services in retail sectors with favorable governmental rules and regulations across the United States, Canada, Mexico, and Brazil has boosted the need for electronic shelf labels. The Asia-Pacific region's retail sector is revamping its business operations by adopting cutting-edge technologies such as artificial intelligence, big data analytics, augmented reality, virtual reality, and robots to play in the digital transformation of retail stores across emerging nations. Gofrugal's marketing team, a cloud ERP company for retail businesses currently working with over 40000 Kirana stores across India, announced 5,000+ businesses in the next six months in July 2021 with the entire Kirana ecosystem adaptation such as a perpetual inventory management solution, the first step toward creating a supply chain equilibrium. Thus, an increase in efforts for retail automation is expected to create a platform for electronic shelf labels in Asia-Pacific.
The FPNV Positioning Matrix is pivotal in evaluating the Electronic Shelf Label Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electronic Shelf Label Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Aldi and Lidl Roll Out Electronic Shelf Labels.
Aldi and Lidl announced plans to introduce ESL technology into their stores across Europe. According to the link provided, Aldi and Lidl are expected to use a system developed by Prisync to gain real-time visibility of product availability and prices. This move indicates an increasing focus on optimizing in-store processes and customer experience, which could result in significant cost savings for these retail chains. [Published On: 2023-04-28]
ICA Malmborgsgruppen Chooses Next-Generation Electronic Shelf Labels.
ICA Malmborgsgruppen's decision to adopt next-generation electronic shelf labels (ESLs) reflects the growing importance of digital technology in retail operations. By utilizing this cutting-edge technology, ICA Malmborgsgruppen can provide their customers with better services in terms of availability, convenience, and cost savings. [Published On: 2023-04-20]
Hanshow Presents New IoT Technologies at EuroShop 2023.
Hanshow Technology, a provider of retail technology solutions, recently showcased its new IoT technologies at EuroShop 2023. The new solutions provide retailers with the opportunity to leverage the power of IoT in their store operations and customer experience. The company’s flagship product is the Electronic Shelf Label (ESL), which allows retailers to automatically update prices and product information in real time across all their stores. This ensures that customers receive accurate and up-to-date information about the products they are interested in and enables them to make informed purchasing decisions. Hanshow’s technology also offers advanced analytics capabilities, allowing retailers to track sales data across stores and better understand customer behavior. This can help them optimize their processes and operations, as well as create targeted promotions based on data insights. [Published On: 2023-02-28]
The report delves into recent significant developments in the Electronic Shelf Label Market, highlighting leading vendors and their innovative profiles. These include ADVANTECH AE, Diebold Nixdorf, Incorporated, Digety UG (limited liability) & Co. KG, Displaydata Limited, Epishine AB, Guangzhou Mengbian Information Technology Co., Ltd., Hangzhou Ontime I.T. Co., Ltd., Hangzhou Zkong Network Technology Co., Ltd., Hanshow Technology Co., Ltd., LabelNest, LANCOM Systems GmbH, MOKOsmart, NZ Electronic Shelf Labelling, Opticon Sensors Europe B.V., Panasonic Connect Europe GmbH, Pricer AB, Retail Solutions Pro DBA, S&K Solutions GmbH & Co. KG, Sen Security Solutions, Ses-Imagotag, Shanghai Sunmi Technology Co., Ltd., Shenzhen Minew Technologies Co., Ltd., Silicon Laboratories, Inc., SoluM Europe GmbH, SureSolutions by Deki Electronics Ltd, Teraoka Seiko Co., Ltd., TroniTAG GmbH, YalaTech Co., Ltd., and ZhSunyco.
This research report categorizes the Electronic Shelf Label Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Component
- Batteries
- E-ink Display
- Microcontroller
- Microprocessors
- Radio
- Transceiver
- Product Type
- Full Graphic E-paper ESLs
- LCD ESLs
- Segmented E-paper ESLs
- Technology
- Infrared
- Near Field Communication
- Radio Frequency
- Display Size
- 3 to 7 Inches
- 7 to 10 Inches
- Less than 3 Inches
- More than 10 Inches
- Distribution Channel
- Convenience Stores
- Hypermarkets
- Non-Food Retail Stores
- Specialty Stores
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast of the Electronic Shelf Label Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electronic Shelf Label Market?
- What are the technology trends and regulatory frameworks in the Electronic Shelf Label Market?
- What is the market share of the leading vendors in the Electronic Shelf Label Market?
- Which modes and strategic moves are suitable for entering the Electronic Shelf Label Market?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Electronic Shelf Label Market, by Component
- Electronic Shelf Label Market, by Product Type
- Electronic Shelf Label Market, by Technology
- Electronic Shelf Label Market, by Display Size
- Electronic Shelf Label Market, by Distribution Channel
- Americas Electronic Shelf Label Market
- Asia-Pacific Electronic Shelf Label Market
- Europe, Middle East & Africa Electronic Shelf Label Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 26]
- List of Tables [Total: 476]
- List of Companies Mentioned [Total: 29]
Government initiatives have played a crucial role in driving the digitalization of retail stores. In countries such as Japan, France, and Germany, the government has incentivized ESL adoption to improve retail efficiency and accuracy in pricing. ESLs allow in-store management, allowing changes to be made in real-time, removing the need for staff to manually update prices.
The benefits of ESL adoption also extend to customers. ESLs display accurate pricing, ensuring shoppers can easily identify the price of products on display without referring to confusing or outdated price tags. Moreover, ESLs can be customized to display additional product information, including allergens, nutritional information, and descriptions, which can help customers make informed purchase decisions.
ESLs can also help improve customer experiences by reducing waiting times. Retailers can use ESLs to manage queues, display estimated wait times, and redirect customers to less busy checkouts. ESLs offer an opportunity to reduce queue times, increasing customer satisfaction and loyalty.
ESLs can also improve inventory management. With real-time updating, retailers can manage inventory levels and restock in real-time, ensuring popular items are always in stock. ESLs can also display inventory levels in real-time for customers, allowing them to identify products that may be out of stock and reduce frustration.
As digital technology advances, so will the adoption of electronic shelf labels within our shopping experiences. With real-time updates, greater inventory management capabilities, improved pricing accuracy, and customer satisfaction, electronic shelf labels have become essential for retailers wishing to stay relevant in today's digital world. Adopting ESLs will undoubtedly lead to cost savings, improved efficiencies, and increased sales as customers benefit from better shopping experiences. Retailers should seek to implement ESLs in their stores to benefit from improving processes and benefit both their customers and their bottom line.
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