Increasing Automation Across Retail Sector is Driving the Growth of Electronic Shelf Label Market
Globally, the electronic shelf label (ESL) market is expected to grow with a CAGR of 16.8% during the forecast period from 2019 to 2027, starting from US$ 450.5 mn in 2018. The market is propelled by the growing adoption of automation across the retail sector. The retail sector is going through a phase of digital disruption. The emergence of online shopping portals has led to an intensive competitive war among retailers. Therefore, to compete with online retailers, offline retailers leverage advanced technology solutions and automate their operations to enhance business performance and gain efficiency. This is acting as a major driver for the growth of the market.
The growing demand for omnichannel pricing and streamlining business operations is also accelerating the adoption of the electronic shelf-label market. The electronic shelf label enables retailers to implement omnichannel and dynamic pricing, as it mitigates the labor input by eliminating manual operation. However, the high installation cost is a major inhibitor to the market's growth.
Market Synopsis
Full Graphic E-Paper ESL is Estimated to Grow Significantly During the Forecast Period
The electronic shelf label market is bifurcated based on the product into LCD ESL, segmented e-paper ESL, and full-graphic e-paper ESL. The LCD ESL accounted for more than a 52% share in the electronic shelf-label market in 2018. The growth of the market is driven by the increasing adoption of the in-store advanced solution across retailers. On the other hand, full graphic e-paper ESL is projected to grow significantly during the forecast period. The growing demand among retailers to enhance customer engagement and in-store communication is a major factor driving the market growth.
North America is Leading the Electronic Shelf Label Market
North America accounted for over 37% of the electronic shelf-label market in 2018. The increasing adoption of the advanced solution among retailers in the region is the primary factor driving the market growth. In addition, the increasing investment by venture capitalists in retail tech is also driving the market growth. Moreover, the presence of major retail companies such as Walmart and Amazon is supporting the market growth.
The electronic shelf label market vendors are Displaydata, Diebold Nixdorf, E Ink Holdings, SES-image tag, NZ Electronic Shelf Labelling, M2Communication, Opticon Sensors Europe, Samsung Electro-Mechanics, Pricer, and Teraoka Seiko.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The electronic shelf label market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global electronic shelf label market based on product, communication technology, application, and geography.
Frequently Asked Questions:
The market for Electronic Shelf Label is expected to reach USD XX Mn by 2027.
The Electronic Shelf Label market is expected to see significant CAGR growth over the coming years, at 16.8%.
The report is forecasted from 2019-2027.
The base year of this report is 2021.
Diebold Nixdorf, DisplayData, E Ink Holdings, M2Communication, NZ ESLling, Opticon Sensors Europe, Pricer, Samsung Electro-Mechanics are some of the major players in the global market.
