The Global Electronic Shelf Label Market was valued at US$ 366.8 million in 2015 and is estimated to grow at 12.9% CAGR during the forecast period (2017–2025), as highlighted in latest study. Increasing cost of labor, across developed economies including Europe and North America, has led to significant increase in demand for retail automation products to reduce the cost and time invested in the shelf labelling process. This is expected to be among the prominent factors driving the business growth.
High overall costs of paper tags and labels, long time required to update the labels, large amount of waste generation, high probability of human errors and increasing requirement of retailers to upgrade prices to attract customers are among the major drawbacks of the conventional methods for the labelling of store shelves. ESLs can be utilized to address these drawbacks and garner interactive consumer environment that can significantly enhance the sales. These factors are expected to present strong growth prospects for the electronic shelf label market through the forecast period.
The global electronic shelf label market is estimated to witness a CAGR of 12.9% CAGR during the forecast period (2017–2025), owing to significant growth in demands for electronic shelf labels, specifically in North America and the U.S.
RF technology is expected to gain traction in the near future, primarily owing to the multiple choices of communication methodologies that include Bluetooth, ZigBee, Wi-Fi, and NFC. Moreover, relatively high operability owing to no requirement of visible range communication, unlike IR, is expected to be the major factor driving growth of the market.
Full graphic e-paper displays are expected to witness highest growth over the forecast period owing to the multi-color displays, high aesthetics, and wide visibility range of displays.
Growing adoption of ESLs in the convenience store and departmental stores is expected to garner highest product sales in the end use segment.
Europe will continue to dominate the overall electronic shelf label industry, with the highest adoption rates and industry penetration over the forecast period.
Some of the major participants in the global electronic shelf label market include Displaydata, Pricer AB, Opticon Sensors Europe B.V, SES-imagotag, Altierre, Teraoka Seiko, Advantech US, and E Ink.
Regional expansion, technology development and product innovation are expected to form the key strategies to acquire strong industry foothold. For instance, Powershelf, a provider of retail technology solutions, had developed a battery-less electronic shelving system to garner increased product adoption.