Electronic Shelf Label Market

Electronic Shelf Label Market by Product Type (LCD, Segmented E-Paper, Full-Graphic E-Paper), Communication Technology (RF, IR, NFC), Store Type (Hypermarkets, Supermarkets, Others), Component, and Geography - Global Forecast to 2023

Report Code: SE 4073 Nov, 2019, by marketsandmarkets.com
Updated date -

MarketsandMarkets forecasts the Electronic Shelf Label market size to grow from USD 302 million in 2016 to USD 1,425 million by 2023, at a Compound Annual Growth Rate (CAGR) of 24% during the forecast period. The major factors that are expected to be driving the market are trending retail automation and increased operational efficiency with real-time product positioning with the use of ESL, otherwise known as digital price tag. The objective of the report is to define, describe, and forecast the ESL market size based on component, product type, communication technology, store type, and region.

Electronic Shelf Labels Market

By product type, the full-graphic e-paper ESL is expected to grow at the highest growth rate during the forecast period

On the basis of product type, the market for full-graphic e-paper ESL is expected to grow at the highest CAGR during the forecast period. Full-graphic e-paper ESLs use e-papers as their display component; these are the advanced version of segmented e-paper displays. The major benefit of these labels is the energy-efficiency and its ability to project graphical objects, such as logos and callouts, facilitating real-time product positioning.

By store type, the non-food retail stores segment to record the highest CAGR during the forecast period

The market for non-food retail stores is expected to grow at the highest CAGR between 2017 and 2023. The non-food retail stores include electronic shops, pharmacies, and drug stores. It is an emerging end-user market having a high growth potential for ESLs. Digital price tagging and superior product management are the major benefits of using ESLs in these stores. The uniform electronic labels contribute to the organized as well as high-quality pharmacies and electronic stores.

Electronic Shelf Labels Market

Electronic Shelf Label Market is the largest market in Europe to account during the forecast period.

Europe held the largest share of the total ESL market in 2016, and the market in Europe is witnessing a significant growth due to the early adoption of ESLs in the region. ESL solutions were first launched in France in 1991. Hence, Europe got a head start in the ESL market, and the region currently holds the largest share of the overall ESL market; however, the ESL market is also growing globally at a significant rate. Furthermore, the highest CAGR of the market in APAC is attributed to the globalization and development of the organized retail sector in APAC.

Key Market Dynamics in Electronic Shelf Label Market

Driver: Trending retail automation

The technological revolution, in terms of automation, across the retail industry has proved effectively beneficial for retailers. The inclination of this industry toward reducing the total operational costs by eliminating manual operations in stores is propelling the adoption of automation solutions across the retail industry. The trending retail automation is also fueling the adoption of electronic shelf labels (ESLs) across all type of retail stores, including hypermarkets, supermarkets, and specialty stores. Furthermore, the implementation of these digital price tags in retail stores enables dynamic and omnichannel pricing; it also helps reduce labor input by eliminating manual operations. Furthermore, the ESLs can also allow retailers to reuse the tags with low maintenance costs. These features can effectively accelerate the adoption of ESLs, thereby driving the growth of the market.

Restraint: High expenses of installation and supporting infrastructure

Deployment of ESL technology might seem costly for the unorganized retailers, as a retailer needs to implement additional shelves that are electrified to accept the ESL tags or be compatible with ESLs, which in turn increases the installation expenses. In addition, retailers/companies always analyze the benefits of any technology before deploying it, with regard to their investment and time taken for the return on investment (ROI). For an unorganized retail market in economically developing countries, such as South Korea and India, the cost of technology is a major restraint as the deployment of these labels also demands the supporting infrastructure, which calls for large investments for small- and medium-scale retailers. The retail industry in India is in a nascent stage, where the population lacks the knowledge of the principles of modern retailing. In these markets, retailers are not willing to invest much in the technology because the operational cost for modern retailing is already high; for instance, high rentals, expensive manpower, and price wars lead to increased costs. Therefore, the high installation expenses are likely to hinder the market throughout the forecast period.

Opportunity: Promising growth in emerging economies due to growing retail automation

Over the recent years, the developing economies have emerged as promising retail automation markets. Retailers are successfully adopting retail automation solutions, such as ESLs, that can cater to the increasing number of middle-class consumers. Retail automation enables improved customer satisfaction, reduced shopping time, and lowered wastage, along with cost saving. It also helps enhance customer experience and, subsequently, boost sales. The growth potential of the retail automation market in emerging economies is one of the major opportunities for the electronic shelf label market. Furthermore, the automation products are prominently deployed in developed countries, whereas some developing countries, such as Egypt, Yemen, Sweden, China, and South Korea, have also begun to deploy the automation products in the retail sector owing to the high growth opportunities they offer. The countries in Asia and the Middle East are among the countries that are in the growth stage in the retail automation market, thereby holding huge space for electronic shelf label deployment in the retail infrastructure. These emerging markets are expected to drive the electronic shelf label market in the near future.

Challenge: Low labor cost in economically developing countries

The availability of labor at low prices in economically developing countries such as India, South Korea, China, and South Africa—is significantly restricting the adoption of automation solutions in the retail industry operating in these countries. Automation of retail space has a little or no economic value in these countries, as cheap labor is abundant and readily available. The adoption of retail automation solutions, such as ESLs, in retail stores mandates the upgrading of existing infrastructure, thereby increasing the total installation expenses. In addition, the ESLs deployed in a retail space communicate through NFC, which is the preferable means of communication within the store among other communication technologies. The NFC-based apps and infrastructure are costly, and thus, retailers prefer the manual operation across their stores rather than upgrading the stores with ESLs.

Electronic Shelf Labels Market

Scope of the Report

Report Metric

Details

Market size available for years

2014–2023

Base year considered

2016

Forecast period

2017–2023

Forecast units

Million (USD)

Segments covered

Component, Product Type, Communication Technology, Store Type, and Region

Geographies covered

North America, Europe, APAC, RoW

Companies covered

Pricer (Sweden), SES-imagotag (France), Samsung Electro-Mechanics (South Korea), E Ink Holdings (Taiwan), Displaydata (UK), M2Communication (Taiwan), Diebold Nixdorf (Germany), Opticon Sensors Europe (Netherlands), Teraoka Seiko (Japan), and NZ Electronic Shelf Labelling (New Zealand).

The research report categorizes the ESLs to forecast the revenues and analyze the trends in each of the following sub-segments:

ESL Market, by Component

  • Displays
  • Batteries
  • Transceiver
  • Microprocessors
  • Others 

ESL Market, by Product Type

  • LCD ESL
  • Segmented E-Paper ESL
  • Full-Graphic E-Paper ESL

ESL Market, by Communication Technology

  • Radio Frequency (RF)
  • Infrared (IR)
  • Near Field Communication (NFC)
  • Other Communication Technologies

ESL Market, by Store Type

  • Hypermarkets
  • Supermarkets
  • Non-Food Retail Stores
  • Specialty Stores
  • Other Store Types

Geographic Analysis

  • North America
  • Europe
  • APAC
  • RoW

Key Market Players

Key players in the ESL market include Pricer (Sweden), SES-imagotag (France), Samsung Electro-Mechanics (South Korea), E Ink Holdings (Taiwan), Displaydata (UK), M2Communication (Taiwan), Diebold Nixdorf (Germany), Opticon Sensors Europe (Netherlands), Teraoka Seiko (Japan), and NZ Electronic Shelf Labelling (New Zealand). SES-imagotag (France) is a leading company in the ESL market and was established in 2010. It has its headquarters in France. The company provides ESLs and associated software for the retail businesses. It sells its products through a network of distributors in Europe, Asia, Australia, North America, and South America. In 2014, the company formed a strategic financial alliance with Store Electronic System S.A. (France), and currently, it is operating as a subsidiary of Store Electronic System, SES (France).

Recent Developments

  • In August 2017, SES-imagotag and Findbox announced a strategic and financial partnership to strengthen their global leadership in the retail in-store digital solutions market.
  • In March 2017, Pricer entered into a partnership with Reflexis Systems to integrate its ESLs and automated product-positioning solution with the ReflexisStore Pulse real-time store operations platform.
  • In March 2017, Displaydata signed a contract with Tallink Grupp to supply 19,000 ESLs for its duty-free retail stores onboard its cruise ships.
  • In January 2017, Pricer entered into an agreement with ECR Software Corporation to provide integrated, high-end ESLs to the North American market.
  • In November 2016, E Ink Holdings agreed to enter a long-term strategic alliance with Japan Display for the e- paper business. The partnership is likely to help Japan Display in diversifying its business scope beyond its existing LCD market.

Critical Questions the Report Answers:

  • Where will all these developments take the industry in the long term?
  • What are the upcoming trends for the ESL market?
  • Which segment provides the most opportunity for growth?
  • Who are the leading vendors operating in this market?
  • What are the opportunities for new market entrants?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
    1.4 Years Considered for Study
    1.5 Currency
    1.6 Package Size
    1.7 Limitations
    1.8 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 List of Major Secondary Sources
                    2.1.1.2 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
                    2.1.2.4 Key Data From Primary Sources
    2.2 Secondary and Primary Research
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
                    2.3.1.1 Approach for Capturing Market Share By Bottom-Up Analysis (Demand Side)
           2.3.2 Top-Down Approach
                    2.3.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply Side)
    2.4 Market Breakdown and Data Triangulation
    2.5 Research Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Opportunities in the Market
    4.2 Market, By Product
    4.3 Asia Pacific: Market, By Store Type and Country
    4.4 Electronic Shelf Label Market, By Country (2017)
    4.5 Market, By Communication Technology

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Trending Retail Automation
                    5.2.1.2 More Cost-Efficient and Less Time-Consuming Alternative to Paper Labels
                    5.2.1.3 Increased Operational Efficiency With Real-Time Product Positioning
           5.2.2 Restraints
                    5.2.2.1 High Expenses of Installation and Supporting Infrastructure
           5.2.3 Opportunities
                    5.2.3.1 Transformation of the Retail Industry From Manual to Automated Operations
                    5.2.3.2 Promising Growth in Emerging Economies Due to Growing Retail Automation
           5.2.4 Challenges
                    5.2.4.1 Low Labor Cost in Economically Developing Countries

6 Industry Trends (Page No. - 39)
    6.1 Introduction
    6.2 Value Chain Analysis
           6.2.1 Component/Raw Material Suppliers
           6.2.2 ESL Vendors
           6.2.3 Distributors
           6.2.4 End Users
    6.3 Key Industry Trends

7 Electronic Shelf Label Market, By Component (Page No. - 41)
    7.1 Introduction
    7.2 Displays
    7.3 Batteries
    7.4 Transceivers
    7.5 Microprocessors
    7.6 Others

8 Electronic Shelf Label Market, By Product Type (Page No. - 46)
    8.1 Introduction
    8.2 LCD ESL
    8.3 Segmented E-Paper ESL
    8.4 Full-Graphic E-Paper ESL

9 Electronic Shelf Label Market, By Store Type (Page No. - 55)
    9.1 Introduction
    9.2 Hypermarkets
    9.3 Supermarkets
    9.4 Non-Food Retail Stores
    9.5 Specialty Stores
    9.6 Other Store Types

10 Electronic Shelf Label Market, By Communication Technology (Page No. - 67)
     10.1 Introduction
     10.2 Radio Frequency
     10.3 Infrared
     10.4 Near Field Communication
     10.5 Other Communication Technologies

11 Electronic Shelf Label Market, By Region (Page No. - 75)
     11.1 Introduction
     11.2 North America
             11.2.1 US
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Europe
             11.3.1 France
             11.3.2 Germany
             11.3.3 UK
             11.3.4 Rest of Europe
     11.4 APAC
             11.4.1 China
             11.4.2 Japan
             11.4.3 South Korea
             11.4.4 Rest of APAC
     11.5 RoW
             11.5.1 Middle East & Africa
             11.5.2 South America

12 Competitive Landscape (Page No. - 94)
     12.1 Introduction
     12.2 Market Ranking, 2016

13 Company Profiles (Page No. - 97)
     13.1 Introduction
Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, Key Relationships
     13.2 Ses-Imagotag
     13.3 Pricer
     13.4 Samsung Electro-Mechanics
     13.5 E Ink Holdings
     13.6 Displaydata
     13.7 M2communication
     13.8 Diebold Nixdorf
     13.9 Opticon Sensors Europe
     13.10 Teraoka Seiko
     13.11 NZ Electronic Shelf Labelling
*Details Might Not Be Captured in Case of Unlisted Companies.
     13.12 Key Innovators
             13.12.1 Altierre
             13.12.2 Advantech U.S.
             13.12.3 Forbix Semicon
             13.12.4 Lancom Systems
             13.12.5 Solum

14 Appendix (Page No. - 128)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Introducing RT: Real-Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details


List of Tables (63 Tables)

Table 1 Electronic Shelf Label Market, By Component, 2014–2023 (USD Million)
Table 2 Market for Displays, By Type, 2014–2023 (USD Million)
Table 3 Market for E-Papers, By Region, 2014–2023 (USD Million)
Table 4 Market for LCDs, By Region, 2014–2023 (USD Million)
Table 5 Market for Other Displays, By Region, 2014–2023 (USD Million)
Table 6 Market, By Product Type, 2014–2023 (USD Million)
Table 7 Market for LCD ESL, By Store Type, 2014–2023 (USD Million)
Table 8 Market for LCD ESL, By Communication Technology, 2014–2023 (USD Million)
Table 9 Market for LCD ESL, By Region, 2014–2023 (USD Million)
Table 10 Market for Segmented E-Paper ESL, By Store Type, 2014–2023 (USD Million)
Table 11 Market for Segmented E-Paper ESL, By Communication Technology, 2014–2023 (USD Million)
Table 12 Market for Segmented E-Paper ESL, By Region, 2014–2023 (USD Million)
Table 13 Market for Full-Graphic E-Paper ESL, By Store Type, 2014–2023 (USD Million)
Table 14 Electronic Shelf Label Market for Full-Graphic E-Paper ESL, By Communication Technology, 2014–2023 (USD Million)
Table 15 Market for Full-Graphic E-Paper ESL, By Region, 2014–2023 (USD Million)
Table 16 Market, By Store Type, 2014–2023 (USD Million)
Table 17 Market for Hypermarkets, By Product Type, 2014–2023 (USD Million)
Table 18 Market for Hypermarkets, By Communication Technology, 2014–2023 (USD Million)
Table 19 Market for Hypermarkets, By Region, 2014–2023 (USD Million)
Table 20 Market for Supermarkets, By Product Type, 2014–2023 (USD Million)
Table 21 Market for Supermarkets, By Communication Technology, 2014–2023 (USD Million)
Table 22 Market for Supermarkets, By Region, 2014–2023 (USD Million)
Table 23 Market for Non-Food Retail Stores, By Product Type, 2014–2023 (USD Million)
Table 24 Electronic Shelf Labels Market for Non-Food Retail Stores, By Communication Technology, 2014–2023 (USD Million)
Table 25 Market for Non-Food Retail Stores, By Region, 2014–2023 (USD Million)
Table 26 Market for Specialty Stores, By Product Type, 2014–2023 (USD Million)
Table 27 Market for Specialty Stores, By Communication Technology, 2014–2023 (USD Million)
Table 28 Market for Specialty Stores, By Region, 2014–2023 (USD Million)
Table 29 Market for Other Store Types, By Product Type, 2014–2023 (USD Million)
Table 30 Market for Other Store Types, By Communication Technology, 2014–2023 (USD Million)
Table 31 Market for Other Store Types, By Region, 2014–2023 (USD Million)
Table 32 Market, By Communication Technology, 2014–2023 (USD Million)
Table 33 Market for Radio Frequency, By Product Type, 2014–2023 (USD Million)
Table 34 Electronic Shelf Labels Market for Radio Frequency, By Store Type, 2014–2023 (USD Million)
Table 35 Market for Infrared, By Product Type, 2014–2023 (USD Million)
Table 36 Market for Infrared, By Store Type, 2014–2023 (USD Million)
Table 37 Market for Near Field Communication, By Product Type, 2014–2023 (USD Million)
Table 38 Market for Near Field Communication, By Store Type, 2014–2023 (USD Million)
Table 39 Electronic Shelf Labels Market for Other Communication Technologies, By Product Type, 2014–2023 (USD Million)
Table 40 Market for Other Communication Technologies, By Store Type, 2014–2023 (USD Million)
Table 41 Market, By Region, 2014–2023 (USD Million)
Table 42 Electronic Shelf Labels Market, By Region, 2014–2023 (Million Units)
Table 43 Market in North America, By Country, 2014–2023 (USD Million)
Table 44 Market in North America, By Country, 2014–2023 (Million Units)
Table 45 Market in North America, By Product Type, 2014–2023 (USD Million)
Table 46 Market in North America, By Store Type, 2014–2023 (USD Million)
Table 47 Electronic Shelf Labels Market for Displays in North America, By Display Type, 2014–2023 (USD Million)
Table 48 Market in Europe, By Country, 2014–2023 (USD Million)
Table 49 Market in Europe, By Country, 2014–2023 (Million Units)
Table 50 Market in Europe, By Product Type, 2014–2023 (USD Million)
Table 51 Market in Europe, By Store Type, 2014–2023 (USD Million)
Table 52 Market for Displays in Europe, By Display Type, 2014–2023 (USD Million)
Table 53 Market in APAC, By Country, 2014–2023 (USD Million)
Table 54 Market in APAC, By Country, 2014–2023 (Million Units)
Table 55 Market in APAC, By Product Type, 2014–2023 (USD Million)
Table 56 Market in APAC, By Store Type, 2014–2023 (USD Million)
Table 57 Market for Displays in APAC, By Display Type, 2014–2023 (USD Million)
Table 58 Market in RoW, By Region, 2014–2023 (USD Million)
Table 59 Market in RoW, By Region, 2014–2023 (Million Units)
Table 60 Market in RoW, By Product Type, 2014–2023 (USD Million)
Table 61 Market in RoW, By Store Type, 2014–2023 (USD Million)
Table 62 Electronic Shelf Label Market for Displays in RoW, By Display Type, 2014–2023 (USD Million)
Table 63 Market Ranking for Market, 2016


List of Figures (47 Figures)

Figure 1 Research Process
Figure 2 Electronic Shelf Label Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Market, 2014–2023
Figure 7 Market for Full-Graphic E-Paper ESL to Grow at Highest CAGR During Forecast Period
Figure 8 Radio Frequency to Hold Largest Share of Market in 2017
Figure 9 Displays to Dominate Market in 2017
Figure 10 Hypermarkets to Hold Largest Share of Market in 2017
Figure 11 Europe Held Largest Share of Market in 2016
Figure 12 Transformation of the Retail Industry From Manual to Automated Operations is One of the Major Opportunities in Market
Figure 13 Market for Full-Graphic E-Paper ESL to Grow at Highest CAGR During Forecast Period
Figure 14 Hypermarkets Held Largest Share of Market in APAC in 2016
Figure 15 US Held the Largest Share of Global Market in 2016
Figure 16 Market for Near Field Communication to Grow at Highest CAGR During Forecast Period
Figure 17 Trending Retail Automation Drives Market
Figure 18 ESL Market: Value Chain Analysis
Figure 19 Market, By Component
Figure 20 Displays to Dominate Market During Forecast Period
Figure 21 Market, By Product Type
Figure 22 Full-Graphic E-Paper ESL to Lead Market During Forecast Period
Figure 23 Market for LCD ESL in APAC to Grow at Highest CAGR During Forecast Period
Figure 24 Full-Graphic E-Paper ESL Market for Non-Food Retail Stores to Grow at Highest CAGR During Forecast Period
Figure 25 Market, By Store Type
Figure 26 Hypermarkets to Hold Largest Size of Market in 2017
Figure 27 Radio Frequency to Hold Largest Share of Market for Hypermarkets in 2017
Figure 28 Europe to Hold Largest Size of Market for Non-Food Retail Stores in 2017
Figure 29 Market, By Communication Technology
Figure 30 Market for Near Field Communication to Grow at Highest CAGR During Forecast Period
Figure 31 Hypermarkets to Hold Largest Size of Market for Radio Frequency in 2017
Figure 32 Full-Graphic E-Paper ESL to Hold Largest Size of Market for Near Field Communication in 2017
Figure 33 Market, By Geography
Figure 34 Geographic Snapshot of Market, 2017–2023
Figure 35 Market in North America
Figure 36 Snapshot: Market in North America
Figure 37 Market in Europe
Figure 38 Snapshot: Market in Europe
Figure 39 Market in APAC
Figure 40 Snapshot: Market in APAC
Figure 41 Market in RoW
Figure 42 Key Growth Strategy Adopted By Companies in ESL Market Between 2014 and 2017
Figure 43 Ses-Imagotag: Company Snapshot
Figure 44 Pricer: Company Snapshot
Figure 45 Samsung Electro-Mechanics: Company Snapshot
Figure 46 E Ink Holdings: Company Snapshot
Figure 47 Diebold Nixdorf : Company Snapshot


Request for detailed methodology, assumptions & how numbers were triangulated.

Please share your problem/objectives in greater details so that our analyst can verify if they can solve your problem(s).
  • Select all
  • News-Letters with latest Market insights
  • Information & discussion on the relevant new products and services
  • Information & discussion on Market insights and Market information
  • Information & discussion on our events and conferences
    • Select all
    • Email Phone Professional and social network (Linkedin, etc)
Report Code
SE 4073
Published ON
Nov, 2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Electronic Shelf Label Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home