Increasing Automation Across Retail Sector is Driving the Growth of Electronic Shelf Label Market

Globally, the electronic shelf label (ESL) market is expected to grow with a CAGR of 16.8% during the forecast period from 2023 to 2030, starting from US$ 702.9 Mn in 2021. The market is propelled by the growing adoption of the automation across the retail sector. The retail sector is going through a phase of digital disruption. The emergence of the online shopping portals has led to the intensive competitive war among the retailers. Therefore, to gain compete with the online retailers, offline retailers are leveraging on the advance technology solution and automating their operations to enhance the business performance and gain efficiency. This is acting as a major driver for the growth of the market.

The growing demand for omni-channel pricing and streamline the business operation is also accelerating the adoption of the electronic shelf label market. The electronic shelf label enables retailers to implement the omni-channel and dynamic pricing, as it mitigate the labor input by eliminating the manual operation. However, the high installation cost is acting as a major inhibitor in the growth of the market.        

Full Graphic E-Paper ESL is Estimated to Grow Significantly During the Forecast Period  

The electronic shelf label market is bifurcated based on the product into LCD ESL, segmented e-paper ESL, full-graphic e-paper ESL. The LCD ESL accounted for more than 52% share in the electronic shelf label market in 2020. The growth of the market is driven by the increasing adoption of the in-store advance solution across retailers. On the other hand, full graphic e-paper ESL is projected to grow significantly during the forecast period. The growing demand among retailer to enhance customer engagement and in-store communication is serving as a major factor driving the market growth.

North America is Leading the Electronic Shelf Label Market                        

North America accounted for more than 37% share in the electronic shelf label market in 2020. The increasing adoption of the advance solution among the retailers in the region is the primary factor driving the market growth. The increasing investment by the venture capitalist in the retail tech is also driving the growth of the market. Moreover, the presence of the major retail companies such as Walmart and Amazon is supporting the market growth.

The major vendors in the electronic shelf label market are Displaydata, Diebold Nixdorf, E Ink Holdings, SES-imagotag, NZ Electronic Shelf Labelling, M2Communication, Opticon Sensors Europe, Samsung Electro-Mechanics, Pricer, and Teraoka Seiko.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Electronic Shelf Label market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Electronic Shelf Label market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Electronic Shelf Label market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Electronic Shelf Label market?
• Which is the largest regional market for Electronic Shelf Label market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Electronic Shelf Label market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Electronic Shelf Label market worldwide?