Electronic Shelf Labels Global Market Report 2023: Growing Trend of Retail Automation Bolsters Growth
DUBLIN, March 8, 2023 /PRNewswire/ -- The "Electronic Shelf Labels Market by Product Type (Fully Graphic E-paper Displays, LCDs, Segmented E-paper Displays), Application (Retail, Industrial), Communications Technology, Display Size, Component and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The electronic shelf labels market is estimated to be worth USD 1.5 billion in 2023 and is projected to reach USD 2.8 billion by 2028, at a CAGR of 13.8% during the forecast period. Advent of 5G, the ability of ESLs to facilitate reduced labor efforts, and the growing trend of retail automation are the major factors fueling the market growth for ESLs globally.
However, high installation and supporting infrastructure expenses, and lack of suitable infrastructures for wireless technologies are expected to impede the market growth especially in emerging economies.
Liquid crystal displays (LCDs) to account for the second largest share of the electronic shelf labels market during forecast period
LCDs are projected to account for the second largest share of the electronic shelf labels market based on product type. LCDs are cost-effective. LCD-based ESLs have maximum penetration in hypermarkets, followed by supermarkets. LCD-based ESLs are maintenance-free and have a large number of possible update cycles. LCD-based ESLs also facilitate energy harvesting, consuming significantly less power during operation. Such benefits are expected to drive the demand for LCD-based ESLs globally.
Displays to account for the largest share of the electronic shelf labels market during forecast period.
The displays segment is also expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the inclusion of various LCDs and fully graphic e-paper displays in ESLs. The rapid adoption of fully graphic e-paper displays and liquid crystal displays in electronic shelf labels is fueling the demand for these displays among end users.
North America to account for the second largest share of the electronic shelf labels market during forecast period
North America is known as the largest retail market globally. The ongoing retail automation trends in countries such as the US and Canada are supporting the growth of the electronic shelf labels market in the region. However, the US was a late adopter of ESLs owing to relatively low labor costs due to the conducive immigration policies of the country before 2015. However, in recent years, owing to immigration policies becoming stringent and labor costs increasing extensively in the US, retailers are extensively using ESLs in their stores. Moreover, the ongoing consolidation of the retail industry in the US, wherein tier I retailers such as Walmart and Kroger are pursuing different growth and expansion strategies, is expected to drive the demand for ESLs in the region.
Market Dynamics
Drivers
- Growing Trend of Retail Automation
- Benefits Offered by ESLs
- High Demand for Price Optimization from Retailers
- Electronic Shelf Labels Facilitate Reduced Labor Efforts
- Advent of 5G
Restraints
- High Installation and Supporting Infrastructure Expenses
- Lack of Suitable Infrastructures for Wireless Technologies
Opportunities
- Constantly Growing Retail Sector
- Digital Disruptions Facilitating Adoption of Advanced Retail Solutions
Challenges
- Low Labor Costs in Developing Countries
- Growing E-Commerce Trend
- Low Retail Margins Hindering Adoption of Advanced Retail Solutions
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Electronic Shelf Labels Market, by Component
6.1 Introduction
6.2 Displays
6.3 Batteries
6.4 Transceivers
6.5 Microprocessors
6.6 Others
7 Electronic Shelf Labels Market, by Product Type
7.1 Introduction
7.2 Liquid Crystal Displays
7.3 Segmented E-Paper Displays
7.4 Fully Graphic E-Paper Displays
8 Electronic Shelf Labels Market, by Communications Technology
8.1 Introduction
8.2 Radio Frequency
8.3 Infrared
8.4 Near-Field Communication
8.5 Others
9 Electronic Shelf Labels Market, by Display Size
9.1 Introduction
9.2 Less Than 3 Inches
9.3 3 to 7 Inches
9.4 7 to 10 Inches
9.5 More Than 10 Inches
10 Electronic Shelf Labels Market, by Application
10.1 Introduction
10.2 Retail
10.2.1 Hypermarkets
10.2.2 Supermarkets
10.2.3 Non-Food Retail Stores
10.2.4 Specialty Stores
10.2.5 Others
10.3 Industrial
11 Electronic Shelf Labels Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Appendix
Companies Mentioned
- Allsee Technologies
- Dalian Sertag Technology Co. Ltd.
- Digety
- Displaydata Limited
- Figure 65 Ses-Imagotag: Company Snapshot
- Figure 66 Solum Co. Ltd.: Company Snapshot
- Figure 67 Pricer Ab: Company Snapshot
- Future Shelf
- Hanshow Technology
- Henderson Technology
- Labelnest
- M2Comm
- Minewtag
- Mokosmart
- Opticon Sensors Europe B.V.
- Panasonic Life Solutions India Pvt Ltd.
- Pricer Ab
- RainUS
- Sen Security Solutions
- Ses-Imagotag
- Shanghai Sunmi Technology Co. Ltd.
- Solum Co. Ltd.
- Teraoka Seiko Co. Ltd. (Digi Group)
- Tronitag Gmbh
- V-Mark Enterprise Limited
- Yalatech Co. Ltd.
- Zhuhai Suny Technology Co. Ltd
- Zkong Networks
For more information about this report visit https://www.researchandmarkets.com/r/d2ivnv
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