Electronic shelf label (ESL) systems are small wireless displays used by retailers for displaying the prices of products kept on shelves. The prices are directly linked to the store’s scanning database, and the prices of the items can be modified remotely from any centralized location. The growing demand of retailers for automating their product pricing, using centralized management system that is accurate, efficient, and helps in gaining a competitive advantage is triggering this market towards growth.
Drivers and Inhibitors
The major forces influencing the growth of the global electronic shelf labels market are:
- Growing need for automation of prices in retail stores
- Increased revenue with growing adoption of ESLs
- Real-time positioning of products
- High return on investments
Moreover, complexities in managing retail stores and the upcoming retail automation market in developing nations is estimated to offer more room for growth over the coming years. However, higher costs of technology, availability of cheap labor and dependence on existing external infrastructure is likely to hinder the growth of this market.
Market Overview
The electronic shelf label (ESL) market which was valued at USD 186.5 Million in 2014 is expected to reach USD 399.6 Million by 2020, growing at a CAGR of 14.1% during the forecast period. Among regions, Europe is expected to be the largest market, owing to the presence of large number of ESL manufacturers and end users in this region. However, Asia-Pacific is expected to grow at the highest rate over the forecast period, offering high growth opportunities.
Based on product type, the full-graphic ESLs are in huge demand, and are likely to play a vital role in the overall growth of this market. It is expected to register the highest growth rate between 2015 and 2020. Whereas on the basis of communication technology, radio frequency segmented is expected to hold the largest market share over the forecast period. Among type of stores, the ESL systems are expected to draw huge demand from the non-food retail sector.
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Research Scope
The global electronic shelf label (ESL) market has been studied and predicted on the basis of following segmentation:
- Product Type: LCD ESLs, Segmented E-Paper ESLs, Full-Graphic E-Paper ESLs
- Communication Technology: Radio Frequency, Infrared, Near-Field Communication (NFC), Others
- Store Type: Hypermarkets, Supermarkets, Non-Food Retail Stores, Specialty Stores, Others
- Component: Displays, Batteries, Transreceivers, Microprocessors, Others
- Region: North America, Europe, Asia-Pacific, RoW
Pricer AB (Sweden), Store Electronic Systems, S.A. (France), Displaydata (U.K.), Imagotag GmbH (Austria), M2Communication, Inc. (Taiwan), Samsung Electro-Mechanics (South Korea), Altierre Corporation (U.S.), Advantech U.S., Inc. (U.S.), Wincor Nixdorf (Germany), and E-ink Holdings, Inc.(Taiwan) are the major players involved in the global market for electronic shelf labels.
