Global Electronic Shelf Label Market Scope Report

Global Electronic Shelf Label Market Highlights Over 2023 - 2033

The global electronic shelf label market is estimated to garner a revenue of ~ USD 6 billion by the end of 2033 by growing at a CAGR of ~19% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 981 million in the year 2022. The inevitable significance of digital signage in retail stores is the main factor driving the growth of the global electronic shelf label market. As of 2021, about 81% of businesses experienced a considerable increase in sales following the implementation of digital signage.

GET A SAMPLE COPY OF THIS REPORT

Digital signage in retail stores serves many purposes intended at enhancing customer service. A digital wireless display system that retail stores use to display product prices is called an electronic shelf label (ESL). ESLs are connected to a store’s point of sale (POS) and enterprise resource planning (ERP) machines to improve pricing accuracy, support dynamic pricing, and reduce the labor cost involved in price management.

Global Electronic Shelf Label Market: Growth Drivers and Challenges

Growth Drivers

• Growing Contribution of the Paper to Environmental Pollution – It has been observed that paper constitutes more than 25% of landfill waste. Paper and pulp are major industrial polluters releasing toxic materials into water, air, and soil. This is mainly from the chlorine-based bleaches used during paper production. Also, rotting paper releases methane gas which is many times more toxic than CO2. The use of ESL in retail stores prevents the reprinting of paper labels every time there is an update on products and prices.  

• Rapid Growth of Digitization – As of 2022, ~90% of enterprises have adopted or are planning to adopt a digital-first business strategy.

• Significant Growth of Automation Among Retailers – As of 2019, around 23% of retail stores were automated to provide inventory availability and product information to the customer.

• Large Investments in the Internet of Things (IoT) – The global expenditure on the internet of things (I0T) is expected to surpass 1 trillion by 2023.

Challenges

• Large Initial Investments for Some Retailers

• Insufficient Infrastructure for Wireless Communication 

• Delay in Updating Product Price and Information

The global electronic shelf label market is segmented and analyzed for demand and supply by end user into retail and industry. Between these, the retail segment is anticipated to hold a significant market size by the end of 2033. The various benefits that retailers gain from increasing automation are the main factor leading to segmental growth. For instance, as of 2020, the available automation technologies with typical grocery stores were enough to let the stores work with up to 66% fewer staff hours. The inclination of shoppers to shop in-store is another reason that would encourage segmental growth.

Global Electronic Shelf Label Market Regional Synopsis

Regionally, the global electronic shelf label market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the Europe region is projected to hold the largest market share by the end of 2033. Large investments in technological development and the stringent consumer protection laws in the region are the major factors contributing to regional market growth. For instance, the investments that the European Union (EU) has proposed in digital technologies for the period 2021-2027 is about USD 147 billion.

Market Segmentation

Our in-depth analysis of the global electronic shelf label market includes the following segments:

Key Companies Dominating the Global Electronic Shelf Label Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global electronic shelf label market that are included in our report are Displaydata Limited, Pricer AB, SES-imagotag, E Ink Holdings Inc., NZ Electronic Shelf Labelling, CLEARink Displays, Inc., Hanshow Technology Co. Ltd, SoluM Europe GmbH, Diebold Nixdorf, Inc., ADVANTECH AE, and others.

Global Electronic Shelf Label Market: Latest Developments

• May, 2021: Hanshow Technology Co. Ltd announced being selected as the exclusive strategic vendor of ALDI SOUTH group for its electronic shelf label solution (ESL).

• April, 2021: Displaydata Limited announced the introduction of its new four-color e-Paper ESLs, which combine red and yellow with white and black.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.