Electronic Shelf Label
Electronic Shelf Label Market Forecasts to 2030 - Global Analysis By Product Type (Segmented E-Paper, Full-Graphic E-Paper, Liquid-Crystal Display and Other Product Types), Component Type, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Electronic Shelf Label Market is accounted for $1.7 billion in 2024 and is expected to reach $4.1 billion by 2030 growing at a CAGR of 15.8% during the forecast period. Electronic Shelf Labels (ESLs) are digital displays used in retail environments to show product pricing and information. They are typically placed on store shelves alongside merchandise and are designed to replace traditional paper price tags. ESLs are capable of displaying various types of information such as product names, prices, promotions, stock levels, and barcodes. They often use technologies like electronic paper (e-paper) or liquid crystal displays (LCDs) for the display, and may incorporate wireless communication protocols such as Bluetooth or Wi-Fi for data transmission and updates.
According to US Census Bureau March 2022, total retail revenues in 2021 were roughly USD 6.6 trillion, an increase of around USD 1 billion from the previous year.
Market Dynamics:
Driver:
Growing trend of retail automation
The market is witnessing a notable surge in retail automation trends. Retailers are increasingly adopting these systems to automate pricing and product information updates. This shift eliminates manual efforts, reduces errors, and enhances operational efficiency. This technology's real-time updates and dynamic pricing capabilities align with the evolving retail landscape, offering a seamless and responsive shopping experience to customers while streamlining management processes for retailers.
Restraint:
Security concerns
Ensuring the integrity of data transmission from backend systems to ESLs is critical to prevent tampering or unauthorized access. Encryption protocols must be robust to thwart hacking attempts. Moreover, secure authentication mechanisms are vital to verify commands sent to ESLs, preventing malicious manipulation. Continuous monitoring and updates to security protocols are necessary to stay ahead of evolving threats and safeguard sensitive information in the dynamic environment. Thus, security concern is the factor restraining the growth of the market.
Opportunity:
Advancements in ESL technology
The integration of IoT sensors allows for real-time updates, ensuring accuracy and efficiency. E-ink displays provide clear visibility and low energy consumption, reducing operational costs. Furthermore, the adoption of wireless communication protocols like Bluetooth enables seamless connectivity for remote management and customization. These technological advancements enhance the market's capabilities, offering a dynamic and responsive retail environment.
Threat:
High installation and supporting infrastructure costs
The market faces significant challenges due to high installation and supporting infrastructure costs. Implementing these systems requires substantial investment in hardware, software, and network infrastructure. Additionally, ongoing maintenance and support expenses contribute to the overall cost burden for businesses adopting technology. These high costs can be a barrier to entry for smaller retailers or organizations with limited budgets, impacting the widespread adoption of solutions across the retail industry.
Covid-19 Impact:
The COVID-19 pandemic has significantly impacted the Electronic Shelf Label (ESL) market. Initially, disruptions in the supply chain led to shortages of ESL components, affecting production and deployment. However, as retailers shifted focus to online channels, the demand for ESLs surged due to their role in enhancing digital shopping experiences and enabling real-time pricing updates. This shift accelerated ESL adoption, driving innovation in the market despite the initial challenges posed by the pandemic.
The liquid-crystal display segment is expected to be the largest during the forecast period
The liquid-crystal display is expected to be the largest during the forecast period. Its versatility, low power consumption, and sharp visual quality make it ideal for displaying pricing, promotions, and product information in retail environments. These systems leveraging LCDs offer real-time updates, enabling retailers to manage inventory efficiently and enhance customer experiences. As the demand for dynamic pricing and digital signage grows, LCD-based solutions continue to play a pivotal role in revolutionizing retail operations.
The batteries segment is expected to have the highest CAGR during the forecast period
The batteries segment is expected to have the highest CAGR during the forecast period. These batteries, often of the coin or button-cell type, power the digital displays, enabling real-time pricing updates and promotional messaging. With the increasing adoption of ESLs by retailers worldwide to enhance customer experience and streamline operations, the demand for efficient, long-lasting batteries has surged. This trend has also led to innovations in battery technology to meet the specific requirements of applications.
Region with largest share:
North America is projected to hold the largest market share during the forecast period driven by the increasing adoption of digital price tags by retailers. These systems offer real-time pricing updates, reduce operational costs, and enhance the overall shopping experience. Factors such as the demand for efficient inventory management, technological advancements in display technologies, and the need for eco-friendly solutions are contributing to the expansion of the market.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. The region has seen a rapid expansion in the retail sector, driven by urbanization, rising disposable incomes, and increasing consumer spending. This growth has led retailers to adopt advanced technologies to enhance customer experiences and streamline operations. Retailers in the regions are keen on adopting technologies that improve operational efficiency and cut down on costs.
Key players in the market
Some of the key players in Electronic Shelf Label market include Pricer AB, Displaydata, Altierre Corporation, Opticon, Teraoka Seiko, Hanshow Technology, SoluM, Altierre, E Ink Holdings, LG Innotek, Planar Systems, Samsung Electro-Mechanics, Panasonic, Delfi Technologies, and Easypak.
Key Developments:
In November 2022, Pricer strengthened its strategic partnership with StrongPoint, a leading grocery retailer that provides smart solutions for retail stores and distributes Pricer’s ESLs in Europe. The new agreement increases StrongPoint’s geographic scope to the UK and Ireland.
In August 2022, SoluM announced a partnership with Ekko GmbH, an Industry 4.0 SaaS platform. With this partnership, SoluM integrated Ekko’s platform with its ESLs to provide enhanced logistics capabilities in retail stores.
Product Types Covered:
• Segmented E-Paper
• Full-Graphic E-Paper
• Liquid-Crystal Display
• Other Product Types
Component Types Covered:
• Display Modules
• Communication Modules
• Batteries
• Microcontrollers/Processors
• Other Component Types
Technologies Covered:
• Radio Frequency (RF)
• Infrared (IR)
• Near Field Communication (NFC)
• Other Technologies
Applications Covered:
• Pricing Management
• Inventory Management
• Promotion Management
• Product Information Display
• Other Applications
End Users Covered:
• Retail
• Healthcare
• Manufacturing
• Logistics and Warehousing
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Electronic Shelf Label Market, By Product Type
5.1 Introduction
5.2 Segmented E-Paper
5.3 Full-Graphic E-Paper
5.4 Liquid-Crystal Display
5.5 Other Product Types
6 Global Electronic Shelf Label Market, By Component Type
6.1 Introduction
6.2 Display Modules
6.3 Communication Modules
6.4 Batteries
6.5 Microcontrollers/Processors
6.6 Other Component Types
7 Global Electronic Shelf Label Market, By Technology
7.1 Introduction
7.2 Radio Frequency (RF)
7.3 Infrared (IR)
7.4 Near Field Communication (NFC)
7.5 Other Technologies
8 Global Electronic Shelf Label Market, By Application
8.1 Introduction
8.2 Pricing Management
8.3 Inventory Management
8.4 Promotion Management
8.5 Product Information Display
8.6 Other Applications
9 Global Electronic Shelf Label Market, By End User
9.1 Introduction
9.2 Retail
9.3 Healthcare
9.4 Manufacturing
9.5 Logistics and Warehousing
9.6 Other End Users
10 Global Electronic Shelf Label Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Pricer AB
12.2 Displaydata
12.3 Altierre Corporation
12.4 Opticon
12.5 Teraoka Seiko
12.6 Hanshow Technology
12.7 SoluM
12.8 Altierre
12.9 E Ink Holdings
12.10 LG Innotek
12.11 Planar Systems
12.12 Samsung Electro-Mechanics
12.13 Panasonic
12.14 Delfi Technologies
12.15 Easypak
List of Tables
1 Global Electronic Shelf Label Market Outlook, By Region (2022-2030) ($MN)
2 Global Electronic Shelf Label Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Electronic Shelf Label Market Outlook, By Segmented E-Paper (2022-2030) ($MN)
4 Global Electronic Shelf Label Market Outlook, By Full-Graphic E-Paper (2022-2030) ($MN)
5 Global Electronic Shelf Label Market Outlook, By Liquid-Crystal Display (2022-2030) ($MN)
6 Global Electronic Shelf Label Market Outlook, By Other Product Types (2022-2030) ($MN)
7 Global Electronic Shelf Label Market Outlook, By Component Type (2022-2030) ($MN)
8 Global Electronic Shelf Label Market Outlook, By Display Modules (2022-2030) ($MN)
9 Global Electronic Shelf Label Market Outlook, By Communication Modules (2022-2030) ($MN)
10 Global Electronic Shelf Label Market Outlook, By Batteries (2022-2030) ($MN)
11 Global Electronic Shelf Label Market Outlook, By Microcontrollers/Processors (2022-2030) ($MN)
12 Global Electronic Shelf Label Market Outlook, By Other Component Types (2022-2030) ($MN)
13 Global Electronic Shelf Label Market Outlook, By Technology (2022-2030) ($MN)
14 Global Electronic Shelf Label Market Outlook, By Radio Frequency (RF) (2022-2030) ($MN)
15 Global Electronic Shelf Label Market Outlook, By Infrared (IR) (2022-2030) ($MN)
16 Global Electronic Shelf Label Market Outlook, By Near Field Communication (NFC) (2022-2030) ($MN)
17 Global Electronic Shelf Label Market Outlook, By Other Technologies (2022-2030) ($MN)
18 Global Electronic Shelf Label Market Outlook, By Application (2022-2030) ($MN)
19 Global Electronic Shelf Label Market Outlook, By Pricing Management (2022-2030) ($MN)
20 Global Electronic Shelf Label Market Outlook, By Inventory Management (2022-2030) ($MN)
21 Global Electronic Shelf Label Market Outlook, By Promotion Management (2022-2030) ($MN)
22 Global Electronic Shelf Label Market Outlook, By Product Information Display (2022-2030) ($MN)
23 Global Electronic Shelf Label Market Outlook, By Other Applications (2022-2030) ($MN)
24 Global Electronic Shelf Label Market Outlook, By End User (2022-2030) ($MN)
25 Global Electronic Shelf Label Market Outlook, By Retail (2022-2030) ($MN)
26 Global Electronic Shelf Label Market Outlook, By Healthcare (2022-2030) ($MN)
27 Global Electronic Shelf Label Market Outlook, By Manufacturing (2022-2030) ($MN)
28 Global Electronic Shelf Label Market Outlook, By Logistics and Warehousing (2022-2030) ($MN)
29 Global Electronic Shelf Label Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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