NEW
YORK, July 19, 2024 /PRNewswire/ -- The
global electronic shelf label (ESLS) market size is
estimated to grow by USD
1.64 billion 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..
![Technavio has announced its latest market research report titled Global electronic shelf label (ESLs) market 2024-2028 Technavio has announced its latest market research report titled Global electronic shelf label (ESLs) market 2024-2028](https://mma.prnewswire.com/media/2464443/Technavio__announced_its_latest_market_research_report_titled_Global_electronic_shelf_label_ESLs.jpg)
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
snapshot of this report
Electronic Shelf
Label (ESLS) Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
15.69%
|
Market growth
2024-2028
|
USD 1641
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
13.22
|
Regional
analysis
|
Europe, APAC, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
Europe at
37%
|
Key
countries
|
France, US, Germany,
China, and Japan
|
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.
|
Market Driver
The global Electronic Shelf Label (ESL) market is experiencing
growth, leading vendors to concentrate on product innovation and
the introduction of smart ESLs to capitalize on the market's
potential. Strategic partnerships and alliances are a key focus for
vendors, collaborating with technology providers, software
developers, distributors, and other market participants. For
instance, in 2023, Qualcomm Technologies, Inc. And SES-imagotag
joined forces to develop new ESL technology based on Bluetooth
SIG's ESL wireless standard. These collaborations enhance vendors'
product offerings and expand their reach in various regions,
contributing to market growth during the forecast period.
Electronic Shelf Labels (ESLs) have become a trend in retail
technology, with Radio Frequency Identification (RFID) and other
connectivity technologies driving their proliferation. SES-imagotag
and Hanshow Technology lead the market, benefiting from the surge
in digitalization and automation in stores. Master Framework
Agreements ensure regulatory support, while import-export and
production analyses provide market insights. ESLs replace
traditional paper labels, offering real-time product information,
inventory status, special offers, and promotions. Battery-powered
displays enable mobility and flexibility. SES-imagotag's legacy ESL
solutions facilitate mobile payment and NFC for brand loyalty
programs. Communication technologies like Bluetooth and QR codes
enhance the shopping experience, enabling employees to access
product details and manage order picking and replenishment.
E-commerce integration and staff resources improve job
satisfaction. Market regulations ensure accuracy in pricing and
product information. Market niches and market dominance continue to
shape the ESL landscape.
Discover 360° analysis of this market. For
complete information, schedule your consultation - Book
Here!
Market Challenges
- The e-commerce industry is experiencing significant growth due
to advancements in communication networks, the increasing use of
smartphones, and the digitalization trend. E-commerce retailers,
such as Alibaba Group Holding, Amazon, eBay, Walmart, Flipkart, and
Rakuten, are increasingly focusing on online retailing to cater to
the growing demand for digital shopping. Technology-driven
innovations like digital payments and digital advertisements are
fueling the growth of e-commerce. However, the rise of e-commerce
poses a challenge to the global electronic shelf label market as
online retailers offer competitive prices, hindering the growth of
traditional brick-and-mortar stores. Thus, retailers must adapt to
remain competitive in the market.
- The Electronic Shelf Label (ESL) market in the retail sector is
experiencing significant growth, driven by the need for real-time
product information and automation. Traditional paper labels face
challenges in providing up-to-date pricing and promotions, making
ESLs an attractive alternative. Bluetooth and Near Field
Communication (NFC) technologies enable seamless updates, while
mobile payment facilitation enhances the shopping experience.
However, challenges remain, such as the need for regulatory support
and employee training. Legacy ESL solutions may require significant
installation expenses and supporting infrastructure. Retailers in
emerging economies with low labor costs offer opportunities for ESL
deployments. Key Performance Indicators (KPIs) like order picking
and replenishment efficiency have shown improvement with ESLs.
Retail automation solutions like ESLs, 5G, and e-commerce are
driving retail sector opportunities. Pilots and Proof of Concepts
are underway at retailers like Carrefour, with vendors offering
win-win solutions. ROI is a critical factor, with retailers seeking
smart retail standards and a quick return on investment.
For more insights on driver and
challenges - Request 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 (RF) technology is a
crucial innovation in Electronic Shelf Labeling (ESL) systems. RF
communication enables real-time pricing and information updates
across a store network without requiring line-of-sight or the need
for physical contact. This technology operates on electromagnetic
waves within a frequency range of 3 kHz to 300 GHz, making it
unobstructed by human beings and common materials. Retailers prefer
RF integrated ESLs due to their cost-effective installation and
operational efficiency. Leading ESL vendors, such as SES-Imagotag,
SoluM, and Teraoka Seiko, offer RF integrated ESL models like
VUSION, Graphic Label, and InfoTag, respectively. The integration
of RF technology with NFC and Bluetooth in ESLs expands their
functionalities, enabling enhanced user engagement and data
transmission capabilities. The low installation cost and ease of
use make RF integrated ESLs a popular choice for retailers, driving
market growth during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Electric Vehicle Test Equipment Market is poised for
growth, driven by increasing demand for efficient testing solutions
amidst rising EV adoption. Meanwhile, the global Ion Implanter
Market sees advancements in semiconductor manufacturing, enhancing
precision and efficiency. In the US, the Electronic Shelf Labels
Market is expanding, leveraging digitalization in retail for
real-time pricing updates and operational efficiency. These markets
reflect significant technological advancements and strategic
innovations shaping their respective industries.
Research Analysis
Electronic Shelf Labels (ESLs) are an essential component of
retail automation, revolutionizing the way retailers manage pricing
and inventory in their stores. The ESL market is experiencing a
surge in digitalization due to the proliferation of technologies
like 5G and the need for real-time, accurate pricing. Retailers are
adopting ESLs to enhance the shopping experience, reduce labor
costs, and improve brand loyalty. ESLs are not limited to large
retailers; even small stores are embracing this technology. ESL
market dynamics are influenced by installation expenses and
supporting infrastructure. Communication technologies, such as
Wi-Fi, Bluetooth, and RFID, enable seamless connectivity between
ESLs and back-end systems. SES-imagotag is a leading player in this
field, offering battery-powered displays with special offers and
promotions capabilities. Inventory status updates in real-time help
retailers optimize stock levels and minimize inaccurate pricing.
The emergence of technologies like ESLs is transforming the retail
sector in emerging economies, making it more competitive and
efficient.
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, replacing traditional paper labels. The market
dynamics are driven by retail automation solutions, supporting
infrastructure, and the proliferation of technologies like 5G, NFC,
and Radio Frequency. Retailers in various store types are adopting
ESLs to enhance their operations, offering benefits such as
accurate pricing, brand loyalty, special offers, and promotions.
Installation expenses and supporting infrastructure are key
considerations for retailers, with ROI being a significant factor
in their decision-making process. Emerging economies present
opportunities for growth in the ESL market, with low labor costs
making digitalization an attractive option. Communication
technologies like Bluetooth and Wi-Fi are used for connectivity,
enabling features like mobile payment facilitation and order
picking. Market regulations and import-export analysis are
important considerations for ESL vendors, with master framework
agreements and pilot projects being common strategies for market
entry. Trade regulations and production analysis also play a role
in the market landscape. Inaccurate pricing, inventory status, and
product details are addressed with ESL devices, providing a win-win
solution for retailers and employees. Legacy ESL solutions are
being replaced with newer technologies, offering improved
functionality and staff resources for increased job satisfaction.
Key Performance Indicators and smart retail standards are essential
for measuring the success of ESL deployments, with Carrefour and
other major retailers leading the way in ESL adoption. Overall, the
ESL market offers significant opportunities for growth and
innovation in the retail sector.
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
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
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/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/electronic-shelf-label-esls-market-size-is-set-to-grow-by-usd-1-64-billion-from-2024-2028--implementation-of-in-store-technologies-boost-the-market-technavio-302200709.html
SOURCE Technavio