NEW
YORK, June 27, 2024 /PRNewswire/ -- The
global electronic shelf label (ESLS) market size is estimated
to grow by USD 1641 million from
2024-2028, according to Technavio. The market is estimated to
grow at a CAGR of almost 15.69% during the forecast period.
Implementation of in-store technologies is driving market growth,
with a trend towards rising number of strategic partnerships and
alliances. However, growth in e-commerce industry poses a
challenge. Key market players include Danavation Technologies
Corp., Diebold Nixdorf Inc., Displaydata Ltd., E Ink Holdings Inc.,
LANCOM Systems GmbH, M2COMM, New Zealand Electronic Shelf
Labelling, Opticon Sensors Europe BV, Panasonic Holdings Corp.,
Pricer AB, Rational Innovation, RSJ Software GmbH, S and K
Solutions GmbH and Co. KG, Samsung Electronics Co. Ltd., Shenzhen
Minew Technologies Co. Ltd., SOLUM Europe Gmbh, Teraoka Seiko Co.
Ltd., troniTAG GmbH, VusionGroup, and Zhejiang Hanshow Technology
Co. Ltd.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Technology (Radio
frequency, Infrared, and Others), Product (LCD ESL, Full graphic
e-paper ESL, and Segmented e-paper ESL), End-user (Supermarkets and
hypermarkets, Convenience stores/department stores/mass merchants,
and Drug stores and others), and Geography (Europe, APAC, North
America, Middle East and Africa, and South America)
|
Region
Covered
|
Europe, APAC, North
America, Middle East and Africa, and South America
|
Key companies
profiled
|
Danavation Technologies
Corp., Diebold Nixdorf Inc., Displaydata Ltd., E Ink Holdings Inc.,
LANCOM Systems GmbH, M2COMM, New Zealand Electronic Shelf
Labelling, Opticon Sensors Europe BV, Panasonic Holdings Corp.,
Pricer AB, Rational Innovation, RSJ Software GmbH, S and K
Solutions GmbH and Co. KG, Samsung Electronics Co. Ltd., Shenzhen
Minew Technologies Co. Ltd., SOLUM Europe Gmbh, Teraoka Seiko Co.
Ltd., troniTAG GmbH, VusionGroup, and Zhejiang Hanshow Technology
Co. Ltd.
|
Key Market Trends Fueling Growth
The global Electronic Shelf Label (ESL) market is expanding, and
vendors are actively investing in product development to capitalize
on its growth potential. Strategic partnerships and alliances are a
key focus for vendors, enabling them to broaden their offerings and
extend their reach in various regions. For instance, in 2023,
Qualcomm Technologies, Inc. Collaborated with SES-imagotag to
develop new ESL technology based on Bluetooth SIG's ESL wireless
standard. Such collaborations are anticipated to boost the market's
growth during the forecast period.
Electronic Shelf Labels (ESLs) have become a trending technology
in retail stores, replacing traditional paper labels with
real-time, battery-powered displays. The market for ESLs is surging
due to the proliferation of technologies like Radio Frequency
Identification (RFID) and Bluetooth, enabling seamless
communication between ESL devices and store networks. SES-imagotag
and Hanshow Technology lead the market, with master framework
agreements and regulatory support from trade and market
regulations. ESLs offer numerous benefits, including accurate
pricing, product information, and special offers. They facilitate
mobile payment and near field communication for a better shopping
experience. ESLs also support inventory status, product details,
and real-time promotions, enhancing brand loyalty and employee job
satisfaction. The market for ESLs is expected to grow as automation
in stores continues, with E-commerce and order picking becoming
increasingly important. However, import-export and production
analysis indicate potential challenges for market dominance.
Inaccurate pricing and regulatory compliance are also crucial
considerations. Legacy ESL solutions are being upgraded with
connectivity technologies like QR codes and NFC to meet the demands
of modern retail.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The e-commerce industry is experiencing significant growth due
to the increasing use of digital technologies and the convenience
of shopping online. E-commerce retailers, such as Alibaba
Group Holding, Amazon, eBay, Walmart, Flipkart, and Rakuten, are
focusing on online retailing to cater to the growing demand for
digital shopping. These companies offer competitive prices and a
wide range of products and services online, making it challenging
for traditional brick-and-mortar stores to compete. Technological
innovations, including digital payments and digital advertisements,
are driving the growth of the e-commerce market. Smartphones and
web applications serve as the foundation for e-commerce and payment
gateway providers. However, the trend of online shopping has led to
lower prices for consumers compared to physical stores, potentially
hindering the growth of the global electronic shelf label market.
Despite this challenge, electronic shelf labels offer benefits such
as real-time price updates, reduced labor costs, and improved
accuracy. Retailers can use electronic shelf labels to remain
competitive by offering dynamic pricing and personalized promotions
to customers. As the retail industry continues to evolve, it is
essential for retailers to adapt and integrate technology to remain
competitive in the market. In conclusion, the e-commerce industry's
growth is limiting the growth of the global electronic shelf label
market due to the competitive pricing offered online. However,
electronic shelf labels offer benefits such as real-time pricing
and personalized promotions, making them a valuable tool for
retailers looking to remain competitive in the digital age.
- The Electronic Shelf Label (ESL) market is experiencing
significant growth in the retail sector, with Bluetooth and
Near Field Communication (NFC) technologies driving real-time
product information updates. However, challenges persist, such as
the cost of installation expenses and supporting infrastructure for
legacy ESL solutions. Employees require training to use mobile
devices for order picking and replenishment, while regulatory
support for e-commerce and mobile payment facilitation is
essential. Retailers in emerging economies seek win-win solutions,
such as Proof of Concept and pilots, to test ESL deployments.
Carrefour and vendors are collaborating to optimize Key Performance
Indicators and meet smart retail standards. Retail automation
solutions, including 5G and ESLs, offer retailers opportunities for
increased ROI and improved staff resources, leading to higher job
satisfaction. Low labor costs in some regions make ESLs an
attractive option. NFC and Quick Response codes are also important
considerations for retailers looking to streamline operations and
enhance the shopping experience.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This electronic shelf label (esls) market report extensively
covers market segmentation by
- Technology
- 1.1 Radio frequency
- 1.2 Infrared
- 1.3 Others
- Product
- 2.1 LCD ESL
- 2.2 Full graphic e-paper ESL
- 2.3 Segmented e-paper ESL
- End-user
- 3.1 Supermarkets and hypermarkets
- 3.2 Convenience stores/department stores/mass merchants
- 3.3 Drug stores and others
- Geography
- 4.1 Europe
- 4.2 APAC
- 4.3 North America
- 4.4 Middle East and
Africa
- 4.5 South America
1.1 Radio frequency- Radio frequency technology, which
uses electromagnetic waves to automatically scan and track tags
attached to products without requiring line of sight, is a
significant innovation in Electronic Shelf Label (ESL) systems.
With a frequency range between 3 kHz and 300 GHz, RF communication
enables real-time pricing and information updates across a store
network, improving operational efficiency and pricing accuracy
compared to manual, paper-based systems. Leading ESL vendors, such
as SES-Imagotag, SOLUM, and Teraoka Seiko, offer RF-integrated ESL
models like VUSION, Graphic Label, and InfoTag. These ESLs support
various frequencies, including 2.4 GHz and 900 MHz, and offer
diverse functionalities beyond pricing updates, such as user
engagement and expanded data transmission capabilities. The low
cost and ease of installation of RF-integrated ESLs are driving
their demand, making them a preferred choice for retailers and
fueling market growth during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
Electronic Shelf Labels (ESLs) are an essential component of
retail automation, revolutionizing the way retailers manage pricing
and inventory in their stores. With the advent of 5G and the
proliferation of technologies, ESLs are becoming more advanced,
offering real-time price updates, special offers, and promotions.
ESLs are ideal for retailers seeking to enhance the shopping
experience, reduce labor costs, and minimize inaccurate pricing.
ESL market dynamics are driven by the surge in digitalization and
automation in stores. Retailers of all store types are adopting
ESLs to improve efficiency and maintain accurate inventory status.
Communication technologies, such as Wi-Fi, Bluetooth, and RFID,
enable ESLs to receive updates and synchronize with central
systems. Battery-powered displays ensure uninterrupted operation,
while supporting infrastructure includes installation expenses and
the necessary hardware and software. In emerging economies, the
adoption of ESLs is increasing due to their cost-effectiveness and
ability to enhance brand loyalty. Traditional paper labels are
being replaced by ESLs, offering retailers a more flexible and
efficient solution for managing pricing and promotions.
Market Research Overview
The Electronic Shelf Label (ESL) market is experiencing
significant growth in the retail sector due to the surge in
digitalization and automation in stores. ESLs, also known as
digital price tags, offer real-time pricing and product
information, enabling retailers to optimize inventory, reduce labor
costs, and enhance the shopping experience. ESLs use various
connectivity technologies such as Radio Frequency, Bluetooth, and
NFC to communicate with supporting infrastructure. ESL market
dynamics are driven by the proliferation of technologies,
automation in retail stores, and the need for accurate pricing and
product information. Emerging economies present significant
opportunities for ESL market growth due to low labor costs and
regulatory support. Retailers are increasingly adopting ESL
solutions to improve Key Performance Indicators, enhance brand
loyalty, and facilitate mobile payment and order picking. ESLs
offer various benefits, including special offers, promotions, and
inventory status updates. ESL devices can be battery-powered
displays or integrated into existing store networks. Traditional
paper labels are being replaced with digital alternatives to
provide more accurate pricing and product information in real time.
Market regulations and import-export analysis are crucial factors
in the ESL market. Master framework agreements and pilot projects
are common strategies for retailers to test ESL solutions before
large-scale deployments. Key players in the ESL market include
SES-imagotag and Hanshow Technology, among others. Trade
regulations and production analysis are essential for understanding
the market dynamics and market niches. Inaccurate pricing and
product details can negatively impact brand loyalty and customer
satisfaction, making ESLs a win-win solution for retailers and
vendors. Proof of concept and pilots are crucial steps in the
adoption process, with Carrefour and other retailers leading the
way in ESL deployments. Overall, the ESL market is poised for
growth due to the increasing demand for retail automation and the
need for real-time product information and pricing. ESLs offer
significant benefits for retailers, including improved employee job
satisfaction, regulatory support, and increased sales through
targeted promotions and inventory optimization.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
-
- Radio Frequency
- Infrared
- Others
- Product
-
- LCD ESL
- Full Graphic E-paper ESL
- Segmented E-paper ESL
- End-user
-
- Supermarkets And Hypermarkets
- Convenience Stores/department Stores/mass Merchants
- Drug Stores And Others
- Geography
-
- Europe
- APAC
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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technologies, spanning across 50 countries. Their client base
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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