The electronic shelf label market (ESL Market) is expected to reach more than $2 billion by 2024

NEW YORK, July 16, 2019 /PRNewswire/ --

The electronic shelf label market (ESL Market) is expected to reach more than $2 billion by 2024, growing at an impressive CAGR of around 27% during 2018–2024.

Read the full report: https://www.reportlinker.com/p05796158/?utm_source=PRN

The rise in the retail environment is one of the prominent factors driving the global ESL market. The growing trend of retail stores to reduce the number of paper sheets to label price tags is driving the global electronic shelf label market. The introduction of dynamic pricing in-store through ESL has led retailers to provide a holistic experience to consumers, thereby driving the demand in the global market. Also, the replacement demand from retailers in developed economies is a major growth factor in the market.
The declining cost of semiconductor chips, micro-displays, and sensors, the rise in consumer expenditure in emerging economies, increase in minimum labor wages, and SKU proliferation warranting smart inventory management are expected to drive the global ESL market during the forecast period.
The emergence of omnichannel and retail reality, increase in dynamic pricing, are some of the prominent factors expected to drive the electronic shelf label market (ESL Market) during the forecast period.
The use of e-ink technology in EPDs increases the efficiency of EPD shelf labels, thereby influencing their adoption. In addition, the increase in the 'click and collect' trend, where customers make the purchase online and collect the purchase from the store is increasing the growth of the global market.

This market research report on the electronic shelf label market (ESL market) covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by display (LCD(TN LCD, TFT), EPD, and OLED), technology (vendor facing (RF and IR) and customer facing (BLE, NFC, others), end-users (supermarkets and hypermarkets, departmental stores, convenience stores, drugstores, others), and geography (North America (US, Canada), APAC (China, Japan, and Singapore), Europe (UK, Germany, France), MEA (UAE, Saudi Arabia, South Africa), and Latin America (Brazil and Mexico).

The study considers the present scenario of the global ESL market and its market dynamics for the period 2018?2024. The study covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. The study profiles and examines leading companies and other prominent companies operating in the electronic shelf label market (ESL Market).

Electronic Shelf Label Market (ESL Market): Segmentation

This market research report includes a detailed segmentation of the market by display type, technology, end-user, and geography.

The vendor facing segment held the largest share of the electronic shelf label market (ESL market) in 2018. Europe was the largest market for vendor facing technology, which was followed by the APAC region. Radiofrequency, which is a subset of vendor facing technology, has universal application and is regulated through agencies such as the Federal Communications Commission (FCC) in the US and the Conference of Postal and Telecommunications Administrations (CEPT) in Europe.

In terms of value, Europe was the leader in the customer-facing ESL market in 2018. The expanding retail market coupled with increasing labor costs is driving retailers to adopt a centralized labeling system, which is driving the demand for customer-facing shelf labels in the region. However, Latin America is likely to be the fastest growing market during the forecast period. The increased automation in the retail industry, along with expanding organized retail, is driving the demand for customer-facing ESL in Latin America.

The electronic shelf label market (ESL Market) by end-users is segmented into supermarkets and hypermarkets, departmental stores, convenience stores, drugstores, and others. The adoption of ESL is currently driven by hypermarkets, supermarkets, and convenience stores, which are looking for better leverage technology to capitalize on evolving consumer preferences and tackle the growing threat from the e-commerce sector. The high presence of stock keeping units and high distribution stores across locations makes the implementation of the shelf labels more favorable than other retail store formats.

LCD, EPD (E-Paper or Electrophoretic Displays), and OLED are the three major display technologies in the electronic shelf label market (ESL Market). Currently, the LCD segment is dominating the market in terms of volume. However, the adoption of EPDs has been growing, and they are expected to grow faster than other display technologies during the forecast period. Manufacturers have started to adopt EPD displays due to low-power consumption, high visibility, and paper-like display.

Market Segmentation by Technology
• Vendor Facing
o Radio Frequency (RF)
o Infra-Red (IR)
• Customer Facing
o Bluetooth Enabled (BLE)
o Near Field Communication (NFC)

Market Segmentation by Display
• LCD
o TN LCD
o TFT
• EPD
• OLED

Market Segmentation by End-users
• Supermarkets and Hypermarkets
• Departmental Stores
• Convenience Stores
• Drugstores
• Others

Electronic Shelf Label Market (ESL Market): Geography

Europe accounted for the largest share of the electronic shelf label market (ESL Market) in 2018 due to the high presence of multi-store format retailers in the region. Further, factors such as high average wages, multi-format retail operations with massive sourcing and sales operation, and a highly competitive retailing market have significantly contributed to the growth of the market in the region. France, the UK, and Germany are the highest revenue generators as well as the most important markets both in terms of potential and proliferation.
Further, Latin America is expected to become the fastest growing market for electronic shelf labels during the forecast period. The electronic shelf label market (ESL Market) in North America is witnessing a paradigm shift as consumers rely on multichannel buying, leverage smartphones for the best bargain both online and offline, weigh-in social decisions and peer reviews, and ready-to-try guided purchases. These factors are expected to increase the dominance of online retailing over offline retailing in the coming years.

Market Segmentation by Geography
• North America
o US
o Canada
• Europe
o France
o UK
o Germany
• APAC
o China
o Japan
o Singapore
• MEA
o UAE
o Saudi Arabia
o South Africa
• Latin America
o Brazil
o Mexico

Key Vendor Analysis
In terms of sales, revenues, and innovation, the electronic shelf label market (ESL Market) is dominated by two major players ? Pricer and SES Imagotag. Price, replacement, and integrated services, portfolio depth, and brand reach are the major factors that help vendors to remain competitive in the market. Many ESL installation contracts often turn into a multi-year arrangement wherein the service includes the supply of tags (electronic price tag, digital price tag), price, and supply analytics, POS hardware, and software. Further, the competition in the electronic shelf label market (ESL Market) is expected to intensify during the forecast period with an increase in product/service extensions, technological innovations, and mergers and acquisitions.

Key Vendors
• SES-imagotag
• Pricer
• Displaydata Ltd.
• Altierre Corp.
• DIGI

Prominent Players in the Electronic Shelf Label Market (ESL Market)
• E-Ink Holdings Inc.
• Samsung Electro Mechanics (SEMCO)
• Mirador Marketing
• M2COMM
• Powershelf
• SoluM
• CEST Ltd.
• LG Innotek
• NZ Electronic Shelf Label
• Opticon Inc.
• Hanshow Technology
• Pervasive Displays Inc. (PDI)
• Wincor Nixdorf
• Dana Industries
• ifLabel
• UBIIK
• Huawei
• Omni ID
• MpicoSys
• TroniTAG
• LG Innotek
• Wuxi Vision Peak Technology Co. Ltd
Key Market Insights
• Offers market sizing and growth prospects of the electronic shelf label market (ESL Market) for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the electronic shelf label market (ESL Market).
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the electronic shelf label market (ESL Market).
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the electronic shelf label market (ESL Market).
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Read the full report: https://www.reportlinker.com/p05796158/?utm_source=PRN

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