New York, United States , July 04, 2023 (GLOBE NEWSWIRE) -- The Global Electronic Shelf Labels Market Size is to grow from USD 1.02 billion in 2022 to USD 3.43 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 12.9% during the forecast period.
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Electronic shelf labels are digital price tags used in retail stores to replace traditional paper labels. These labels feature electronic displays that can be updated remotely, providing real-time pricing and product information. ESLs offer benefits such as quick and easy price changes, accurate pricing information for customers, and efficient stock management for retailers. With ESLs, retailers can implement dynamic pricing strategies, reduce pricing errors, and centrally manage inventory. Customers benefit from up-to-date pricing information, improved shopping experiences, and reduced confusion. ESLs enhance operational efficiency, boost sales, and contribute to a more streamlined and modern shopping environment in the retail industry.
Browse key industry insights spread across 210 pages with 130 Market data tables and figures & charts from the report on, "Global Electronic Shelf Labels Market Size, Share, and COVID-19 Impact Analysis, By Component (Displays, Batteries, Transceivers, Microprocessors, and Others), By Product Type (LCDs, Segmented E-paper Displays, and Fully Graphic E-paper Displays), By Communications Technology (Radio Frequency, Infrared, Near-field Communication, and Others), By Display Size (Less than 3 Inches, 3 to 7 Inches, 7 to 10 Inches, and More than 10 Inches), By Application (Retail and Industrial), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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The displays segment is expected to grow at a CAGR of around 13.2% during the forecast period.
Based on component type, the global electronic shelf labels market is segmented into displays, batteries, transceivers, microprocessors, and others. The displays segment is anticipated to experience significant growth in the forecast period in the electronic shelf labels market. This growth can be attributed to several factors. The advancements in display technologies, such as e-paper displays and OLEDs, have improved the visual quality and energy efficiency of ESLs. The demand for enhanced customer engagement and personalized shopping experiences is driving the adoption of ESLs with interactive displays. Additionally, the growing trend of omnichannel retailing and online-to-offline integration is fueling the need for ESLs with digital displays to provide real-time inventory information and dynamic pricing updates. These factors collectively contribute to the projected growth of the displays segment in the ESL market.
The LCDs segment held the largest market share with more than 34.7% in 2022.
Based on product type, the global electronic shelf labels market is segmented into LCDs, segmented e-paper displays, and fully graphic e-paper displays. The liquid crystal displays segment has emerged as the dominant player in the electronic shelf labels market, holding the largest market share. This segment utilizes LCD technology for displaying pricing and product information on ESLs. LCD-based ESLs offer advantages such as high visibility, excellent readability, and flexibility in displaying various content formats. LCDs provide clear and crisp visuals, making them suitable for conveying pricing details and promotional messages to customers. With their widespread adoption and proven effectiveness, the LCDs segment has secured the largest market share in the ESL industry.
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Europe is predicted to grow at a higher CAGR of around 15.8% over the projected period.
Based on region, Europe is predicted to experience rapid growth in the forecast period for the electronic shelf labels market. This growth can be attributed to several factors. European retailers are increasingly embracing digital transformation and adopting advanced technologies, including ESLs, to enhance their operations and customer experience. The region's stringent regulations and focus on sustainability drive the adoption of ESLs as an eco-friendly alternative to paper labels. Additionally, Europe's highly developed retail infrastructure and tech-savvy consumer base provide a conducive environment for ESL implementation. The region's strong emphasis on innovation and technology further propels the growth of the ESL market in Europe, making it a promising market for ESL providers.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global electronic shelf labels market include SES-imagotag, SoluM Co., Ltd., Pricer AB, Displaydata Limited, Teraoka Seiko Co., Ltd., M2COMM, Opticon Sensors Europe B.V., Rainus, Shanghai SUNMI Technology Co., Ltd., and Hanshow Technology.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global electronic shelf labels market based on the below-mentioned segments:
Electronic Shelf Labels Market, By Component
- Displays
- Batteries
- Transceivers
- Microprocessors
- Others
Electronic Shelf Labels Market, By Product Type
- LCDs
- Segmented E-paper Displays
- Fully Graphic E-paper Displays
Electronic Shelf Labels Market, By Communication Technology
- Radio Frequency
- Infrared
- Near-field Communication
- Others
Electronic Shelf Labels Market, By Display Size
- Less than 3 Inches
- 3 to 7 Inches
- 7 to 10 Inches
- More than 10 Inches
Electronic Shelf Labels Market, By Application
- Retail
- Industrial
Electronic Shelf Labels Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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Global Electronic Shelf Labels Market Size, Share, and COVID-19 Impact Analysis, By Component (Displays, Batteries, Transceivers, Microprocessors, and Others), By Product Type (LCDs, Segmented E-paper Displays, and Fully Graphic E-paper Displays), By Communications Technology (Radio Frequency, Infrared, Near-field Communication, and Others), By Display Size (Less than 3 Inches, 3 to 7 Inches, 7 to 10 Inches, and More than 10 Inches), By Application (Retail and Industrial), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032
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