Report Id: SNS/SEMI/1320 | May 2022 | Region: Global | 125 Pages
Electronic Shelf Label Market was valued at USD 826 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 20.4% from 2021 to 2028, and is projected to reach $3.02 billion by 2028. Digital shopping and the proliferation of flexible, inexpensive and time-consuming retail trends instead of paper labels, the great need to improve prices among retail stores, the increase in real-time product efficiency are some of the highlights of global market growth.
Driver-The adoption of automation in the retail industry has grown exponentially due to growing competition, the introduction of new supply channels, increased investment in the e-commerce market, and rising wages. Technologies such as electronic shelf labels, self-checking terminals, self-monitoring robots, and automatic back-room pouring proved to be successful on a scale in the retail industry and provided significant benefits for retailers. The digital integration of the store is here to last, as companies are increasingly investing in consumer purchasing technology. Retailers around the world offer high flexibility to consumers throughout the shopping process, and the smooth transition between digital and physical shopping platform is becoming increasingly important. In addition, consumers around the world are more sensitive to prices and more knowledgeable about pricing, which has increased the need to make quick or daily changes for store owners.
Restraint- The deployment of ESL technology may seem costly to informal retailers, as the retailer needs to use additional electric shelves to fit ESL markers or comply with ESLs, which also increases installation costs. In addition, retailers / companies are constantly evaluating the benefits of any technology before using it, especially in terms of their investment and the return on investment (ROI). In the informal shopping market in developing countries, such as South Korea and India, the cost of technology is a major obstacle as the delivery of these labels also requires supportive infrastructure, which requires significant investment in small and medium-sized retailers. . India's retail industry is in its early stages; moreover, the population has no knowledge of the principles of modern marketing. In these markets, retailers are not willing to invest much in technology because the cost of modern sales operations is already high; for example, high employment, expensive labor, and price wars lead to higher costs. Although the use of electronic price tags is advantageous, the initial cost of electronic price tags is expensive and cannot be included in all retail stores. Therefore, higher installation costs are likely to disrupt the market during the forecast period.
Opportunity- The retail industry has shown promising growth worldwide due to its shift from manual to automated operations. According to a MarketsandMarkets analysis, the global automation market is expected to be $ 18.99 billion by 2023, growing at a CAGR of 10.96% at the time of forecasting. Vendors from developed countries such as Germany, France, the US, and Singapore have successfully used automated automation solutions to address the growing number of middle-class consumers. Automatic solutions such as ESLs are widely used in developed countries; however, a few developing or less-developed countries such as Sweden, Norway, and South Korea have begun to incorporate ESLs into their retail sector, due to the high growth opportunities in the changing retail market. Various countries, including India, North Korea, and New Zealand, are unused ESL markets and thus hold significant opportunities for these providers.
Challenge- The low availability of labor in developing economies — such as India, South Korea, China, and South Africa — greatly limits the acceptance of changing solutions in the retail industry operating in these countries. Commercial real estate has little or no economic impact on these countries, as cheap jobs are plentiful and readily available. The adoption of flexible retail solutions, such as ESLs, in stores, authorizes the development of existing infrastructure, thereby increasing the total cost of installation. In addition, ESLs are planted in a retail outlet that communicates via NFC, which is the preferred method of communication within the store, among other communication technologies. NFC-based applications and substructure are expensive, therefore, retailers prefer to work straight in all of their stores rather than upgrade stores with ESLs.
IMPACT OF COVID-19:
The coronavirus Pandemic has disrupted ESL market growth in the first half of 2020 as a result of strict door-to-door measures imposed by government officials around the world. The temporary closure of productive crops has hampered global purchases, contributing to overall market growth. Market conditions in general deteriorated as a result of the closure of industrial facilities, restrictions on public movement reduced the decline in retail prices, and barriers to international trade. However, the industry regained power in the second half of 2020, following the relaxation of closed areas and the reopening of factories. The market will witness growth during forecasting with emerging e-commerce industry leaders using advanced technology in distribution centers.
The full US ESL e-paper market size for US images was in millions in2020 which led by a huge demand for ESLs from the growing e-commerce sector using advanced technology in distribution centers to facilitate the operation and delivery of items on time. to ensure customer satisfaction.
As e-commerce players deal with a large number of assets in their final bases, manual labeling techniques are time-consuming. Wrong price may result in shipping delays, customer complaints, and higher operating costs. ESL-filled clear sheets of paper ensure clear readability even in dim light conditions. ESLs converting traditional warehouses into a connected digital space will reflect a growing demand during the forecast period.
Segmentation Overview for Global Electronic Shelf Label-
The electronic shelf label market is divided into product type, component, display size, communication technology, store type, and region. Based on the type of product, the market is divided into LCD, E-Paper, and E-paper with full images. In part, it is divided into indicators, batteries, transceivers, microprocessors, and others. Based on the type of product, the market is divided into LCD, E-Paper, and E-paper with full images. By display size, the market is divided into 3 inches, 3 to 7 inches, 7 to 10 inches, and more than 10 inches. Based on communication technology, it is divided into radio frequency, infrared, near the communication platform, and more. In the form of a store, it is divided into hypermarkets, supermarkets, non-grocery stores, specialty stores, etc., among which hypermarkets have received the highest market share due to the growing acceptance of digital technology in the retail sector.
Competitive Landscape Analysis
Key players featured in the report include Advantech Inc, Altierre Corporation, Displaydata Limited, E Ink Holdings Inc, Herbert Retail Limited, M2COMM, Opticon Sensors Europe B.V, Diebold Nixdorf Incorporated, Teraoka Seiko Co Ltd, SoluM, SES-imagotag, Samsung Electronics Co. Ltd. These key players use strategies, such as product portfolio expansion, integration and acquisition, contracts, space expansion, and collaborations to improve their position in the electrical shelf label industry.
Segmented e-paper ESL
Full graphic e-paper ESL
By Product Type
Liquid Crystal Displays
Supermarket and Hypermarket
By Display Size
Less than 3 inches
3 to 7 inches
7 to 10 inches
More than 10 inches
The regional market share of the electronic shelf label includes North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific electric shelf label market is expected to grow at a very high CAGR during the forecast period, due to the high availability of large stores with high customer interest, and easy availability of processing equipment, high growth of full e-paper image display, and non-food outlets which are gaining popularity in this region.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 826 Million|
|Market Size by 2028||US$ 3.02 Billion|
|CAGR||CAGR of 20.4% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Type (LCD ESL, Segmented e-paper ESL, Full graphic e-paper ESL)
• by Product Type (E-Ink, Full-grpahic e-paper, Segmented e-paper, Liquid Crystal Displays)
• by Technology (Radio Frequency, Infrared, Near-field Communication, ZigBee, BLE, Wi-Fi, Others)
• by Application Type (Industrial, Commercial, Supermarket and Hypermarket, Convenience Store, Departmental Store, Specialty Store, Pharmacie)
• by Display Size (Less than 3 inches, 3 to 7 inches, 7 to 10 inches, More than 10 inches)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Advantech Inc, Altierre Corporation, Displaydata Limited, E Ink Holdings Inc, Herbert Retail Limited, M2COMM, Opticon Sensors Europe B.V, Diebold Nixdorf Incorporated, Teraoka Seiko Co Ltd|
|Key Drivers||• adoption of automation in the retail industry has grown exponentially due to growing competition|
|OPPORTUNITIES||• The deployment of ESL technology may seem costly to informal retailers|
Frequently Asked Questions (FAQ) :
Japan, South Korea, China, India, Australia, and the rest of the Asian-Pacific are covered in the APAC region.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGOs, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries
Electronic Shelf Label Market size was valued at USD 826 million in 2021 at a CAGR OF 20.4%.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Increased retail automation is driving growth in emerging economies and shift from manual to automated operations are the opportunities in the Electronic Shelf Label Market.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine Russia War
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. The SNS Graph
9. Electronic Shelf Label Market, Segmentation, by type
9.2 LCD ESL
9.3 Segmented e-paper ESL
9.4 Full graphic e-paper ESL
10. Electronic Shelf Label Market, Segmentation, by equipment product type
10.4 Full-grpahic e-paper
10.5 Segmented e-paper
10.6 Liquid Crystal Displays
11. Electronic Shelf Label Market, Segmentation, By Technology
11.7 Radio Frequency
12. Electronic Shelf Label Market, Segmentation, By application
12.7 Supermarket and Hypermarket
12.8 Convenience Store
12.9 Departmental Store
13. Electronic Shelf Label Market, Segmentation, By Size
13.2 Less than 3 inches
13.3 3 to 7 inches
13.4 7 to 10 inches
13.5 More than 10 inches
14. Regional Analysis
14.2 North America
14.3.6 The Netherlands
14.3.7 Rest of Europe
14.4.2 South Korea
14.4.6 Rest of Asia-Pacific
14.5 The Middle East & Africa
14.5.3 South Africa
14.6 Latin America
14.6.3 Rest of Latin America
15. Company Profiles
15.1 Advantech Inc
15.1.2 Products/ Services Offered
15.1.3 SWOT Analysis
15.1.4 The SNS view
15.2 Altierre Corporation
15.3 Displaydata Limited
15.4 E Ink Holdings Inc
15.5 Herbert Retail Limited
15.7 Opticon Sensors Europe B.V
15.8 Diebold Nixdorf Incorporated
15.9 Teraoka Seiko Co Ltd
15.12 Samsung Electronics Co. Ltd
15.13 Pricer AB.
16. Competitive Landscape
16.1 Competitive Benchmark
16.2 Market Share analysis
16.3 Recent Developments
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