Global Electronic Shelf Labels Market Research Report: By Component (Displays, Batteries, Transceivers, Microprocessors, and Others), By Product Type (LCDs, Segmented E-paper Displays, and Fully Graphic E-paper Displays), By Application (Retail and Industrial), 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), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.
The Global Electronic Shelf Labels Market was valued at USD 1.05 billion in 2022, and is estimated to reach approximately USD 3.08 billion by 2031, at a CAGR of 12.7% from 2023 to 2031. Electronic shelf labels are computerized price tags that are utilized in retail settings instead of traditional paper labels. These unique labels have electronic displays that can be remotely updated, giving clients with real-time pricing and product information. ESLs provide various benefits to both merchants and customers. Retailers may alter prices, update promotions, and manage inventory centrally, eliminating the need for manual label changes and lowering pricing mistakes. Customers benefit from precise and current price information, which reduces confusion and enhances their shopping experience. ESLs also allow merchants to monitor inventory levels and immediately detect out-of-stock products, allowing for more effective stock management.
ELECTRONIC SHELF LABELS MARKET: REPORT SCOPE & SEGMENTATION
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Report Attribute |
Details |
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Estimated Market Value (2022) |
1.05 Bn |
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Projected Market Value (2031) |
3.08 Bn |
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Base Year |
2022 |
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Forecast Years |
2023 - 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Component, By Product Type, By Communications Technology, By Display Size, By Application, & Region |
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Segments Covered |
By Component, By Product Type, By Communications Technology, By Display Size, By Application, & Region |
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Forecast Units |
Value (USD Billion or Million), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Electronic Shelf Labels Market Dynamics
Several variables influence the electronic shelf label industry. ESLs help retailers save money and improve operational efficiency. Remotely updating prices and product information saves labor expenses associated with manual label updates and minimizes pricing mistakes. Dynamic pricing strategies are enabled by ESLs, letting merchants instantly modify prices in reaction to market conditions and optimize sales. ESLs improve the shopping experience by offering customers precise and real-time price information, decreasing confusion, and increasing customer happiness.
Global Electronic Shelf Labels Market Drivers
Electronic shelf labels eliminate the need for manual price updates and reduce pricing errors in retail stores. The automation of pricing processes improves accuracy, reduces labor costs, and enables real-time price adjustments, ensuring consistent pricing across various channels and minimizing customer dissatisfaction.
Restraints:
The upfront costs of deploying ESL systems can be significant, including the cost of hardware, software, installation, and integration with existing systems. This can be a barrier for small and medium-sized retailers with limited budgets, slowing down the adoption rate.
Opportunities:
With the growth of e-commerce and the increasing integration of online and offline channels, ESL can play a vital role in ensuring consistent pricing and product information across different platforms. ESL systems offer opportunities for retailers to enhance their omnichannel strategies and deliver a seamless shopping experience to customers.
Segment Overview
By Communication Technology
On the basis communication technology, the global electronic shelf labels market is segmented into radio frequency, infrared, near-field communication, and others. The radio frequency category dominates the market with the largest revenue share of around 29.5% in 2022. RF-based ESLs provide dependable and efficient wireless communication, enabling for rapid and smooth price and product information changes. RF technology has a greater communication range than other options, guaranteeing dependable connectivity even in big retail venues.
By Display Size
On the basis the display size, the global electronic shelf labels market is segmented into less than 3 inches, 3 to 7 inches, 7 to 10 inches, and more than 10 inches. The less than 3 inches category dominates the market with the largest revenue share of around 26.5% in 2022. These little ESLs are extremely adaptable and may be readily integrated into a wide range of retail situations, including small stores and shelves with limited space.
By Product Type
On the basis product type, the global electronic shelf labels market is segmented into LCDs, e-paper displays, and fully graphic e-paper displays. The LCDs category dominates the market with the largest revenue share of around 34.3% in 2022. LCD technology is used in this area to show price and product information on ESLs. LCD-based ESLs have benefits like as great visibility, excellent readability, and flexibility in presenting a variety of content formats.
By Component Type
On the basis component type, the global electronic shelf labels market is segmented into displays, batteries, transceivers, microprocessors, and others. The displays segment is anticipated to grow at a higher CAGR of 12.8% during the forecast period. Display technology improvements, such as e-paper displays and OLEDs, have increased the visual quality and energy efficiency of ESLs.
Global Electronic Shelf Labels Market Overview by Region
By Region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America had the greatest share, of around 33.5%, of the global market in 2022. The presence of huge retail chains and technologically adept establishments that have rapidly embraced digital transformation across the region, which drives the market growth during the forecast period.
Global Electronic Shelf Labels Market Competitive Landscape
In the global electronic shelf labels market, a few big players wield great market domination and have a strong regional presence. Most of the key players are devoted to continued research and development efforts, and also actively participate in strategic growth initiatives like as product creation, product launches, joint ventures, and partnerships. These organizations intend to pursue these tactics in order to increase their market position and develop their client base in order to acquire a significant portion of the market.
Some of the leading companies in the global electronic shelf labels market include SES-imagotag, Displaydata Limited, SoluM Co., Ltd., Pricer AB, Teraoka Seiko Co., Ltd., M2COMM, Opticon Sensors Europe B.V., Rainus, Shanghai SUNMI Technology Co., Ltd., Hanshow Technology, and various other key players.
Global Electronic Shelf Labels Market Recent Developments
In September 2022, SES-imagotag and Instacart, a well-known supermarket technology firm in North America, have formed a cooperation. This partnership makes it possible for SES-imagotag's Electronic Shelf Labels (ESLs) and VUSION IOT retail cloud platform to be seamlessly integrated into grocery shops. The goal is to give clients with a more upscale shopping experience.
Scope of the Global Electronic Shelf Labels Market Report
Electronic Shelf Labels Market Report Segmentation
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ATTRIBUTE |
DETAILS |
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By Component |
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By Product Type |
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By Communication Technology |
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By Display Size |
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By Geography |
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Customization Scope |
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Pricing |
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Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
To identify and estimate the market size for the global electronic shelf labels market segmented by service, by type, by specialty, by delivery mode, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of electronic shelf labels between 2019 and 2031.
To identify and infer the drivers, restraints, opportunities, and challenges for the global electronic shelf labels market
To find out the factors which are affecting the sales of electronic shelf labels among consumers
To identify and understand the various factors involved in the global electronic shelf labels market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Intended Audience
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
