The global electronic shelf label market grew at a CAGR of around 21% during 2014-2019. An Electronic shelf label (ESL) system stands for a tool that is used by retailers to display specific product information and price on the shelves. It provides an electronic linkage between the store checkout system and product shelves, thereby ensuring accurate product pricing. Furthermore, the ESL system comes with high durability, prolonged shelf life, replaceable batteries, and can be updated from time to time without any hassle. Owing to the rising trend of automation, electronic shelf labels are widely adopted by all kinds of retail stores, including supermarkets, hypermarkets, specialty stores, departmental stores, etc.
In recent times, the high prevalence of technological revolution across the retail industry of both the developed and developing regions have augmented the demand for ESL systems. Furthermore, the developing economies, such as China and India, have emerged as substantial markets for retail automation. Several retailers are adopting retail automation solutions for improved consumer satisfaction, automatic price updates, reduced operational and labor costs, and efficient store management. In addition to this, the rapid integration of full graphic e-papers with ESL systems has positively influenced the development of in-store communication solutions. Moreover, various technological advancements, for instance, the introduction of ESL systems based on radio frequency (RF) communication technology, are expected to fuel the growth of the global electronic shelf label market in the coming years. Looking forward, the market is projected to reach a value of US$ 2,082.7 Million by 2025, registering a CAGR of 24.6% during 2020-2025.
Key Market Segments:
Breakup by Type:
Based on the type, the report finds that liquid crystal displays (LCDs) exhibit a clear dominance in the market, accounting for the majority of the global market share. Other popular types are full-graphic and segmented e-papers.
Breakup by Component:
The market has been bifurcated based on the component into hardware and software. Hardware currently represents the most popular component.
Breakup by Technology:
On the basis of the technology, the market has been categorized into radiofrequency, infrared, near-field communication (NFC) and others. At present, the majority of ESLs are embedded with infrared technology.
Breakup by Application:
Based on the application, the market has been segregated into supermarkets and hypermarkets, convenience stores and others. Amongst these, ESLs are most widely utilized in supermarkets and hypermarkets.
Breakup by Region:
Region-wise, North America holds the leading position in the market. Other major markets include Asia Pacific, Europe, Latin America, and Middle East and Africa.
The competitive landscape of the industry has also been examined with some of the key players.
Key Questions Answered in This Report:
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