Electronic Shelf Label Market Share, Trend Analysis & Forecast, 2019 – 2028
Electronic shelf labels are used by various retailers as an indicator that displays the price product and offers related to the product. There are number of electronic shelf labels in a retail store that are basically controlled by a server, which further makes use of wireless communication network to communicate with the ESL. Shelf label is experiencing fast growth and is emerging advanced technology worldwide. Shelf label allows flexibility to make urgent price changes. Furthermore, every shelf label system consists of E-ink or LCD display that displays the price and UPC of the product. The growing digitalization of retail automation and stores, less-time consuming, cost effectiveness, high demand for price optimization among various retail stores are some of the major factors for the positively uplifting the market growth.
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ELECTRONIC SHELF LABEL MARKET DYNAMICS
Digitalization of stores and prevalence of retail automation has driven market growth. The acceptance of automation in the retail sector has significantly increased due to growth in competition, increased investments in the e-commerce sector along with introduction of new channels to supply various goods and rising wages. Various technologies such as self-checkout terminals, electronic self-labels, automated backroom unloading and self-checking robot’s technology are serving a successful rate in the retail industry and supply improved results to the retailers. Store digitalization technology is in a long run as various companies are investing in technologies to improve consumer shopping experiences. The retailers are providing high flexibility to the customers in the entire buying procedure along with smooth transition between physical shopping and digital platforms is gaining importance. Moreover, price sensitivity, has increased the urge to make daily price adjustments for the store owners. Furthermore, high installation expenses and non-supporting infrastructures are restraining the market growth. Although, the usage of electronic price tags in very beneficial, but the basic cost of electronic price tags is quite expensive and not appropriate for installation purpose in all retail stores. Therefore, high installation charges are negatively impacting the market growth.
COVID 19 IMPACT ON MAGNETIC SENSOR MARKET
Covid -19 pandemic has led to closure of many facilities and needs proper decontamination before operation starts. The key manufacturers of electric shelf labels are highly impacted due to outbreak and spread of coronavirus. The impact of the coronavirus on small enterprises of electronic shelf labels was harsh during the during the time period of first two quarters of year 2020-2021. Furthermore, the market is anticipated to observe gradual recovery from 2020 as governments across the globe have lifted lockdown restrictions also the economic activities have restarted in various part of the world, which included retail sector as well.
ELECTRONIC SHELF LABEL MARKET SEGMENTAL OVERVIEW
The report analyses of the electronic shelf label market is based on component, product type, store type, communication type and by geography.
ELECTRONIC SHELF LABEL MARKET BY COMPONENT
By component, the global electronic shelf label market is categorized into displays, batteries, transceivers, microprocessors, others. Microprocessor holds the largest share in the market. Microprocessor is an electronic component used by various PCs and electronic shelf labels to complete its work. It is basically known as central processing unit present on a single integrated circuit which further consists of various small components including resistors, transistors and diodes that work together.
ELECTRONIC SHELF LABEL MARKET BY PRODUCT TYPE
The electronic shelf label market by product type is bifurcated into LCD ESL, E-Paper based ESL. E-paper holds the largest market share. E-paper which is also known as electronic paper imitates the appearance of ordinary ink on paper. Electrodes present above and below the capsules move up and down when a negative and positive field is applied, which further makes the surface of the electronic paper display present a certain color.
ELECTRONIC SHELF LABEL MARKET BY STORE TYPE
The electronic shelf label market by store type is classified into hypermarkets, non-food retail stores, supermarkets, specialty stores, other. Hypermarket holds the major share in the market. Presence of large number of hypermarkets has uplifted the market growth of electronic shelf labels by different retailers to improve their operational efficiency and further carry out cost optimization of products. Electronic shelf labels help in simplifying store operations. The usage of these labels allows hypermarkets to update product related information in very less time.
ELECTRONIC SHELF LABEL MARKET BY COMMUNICATION TYPE
The electronic shelf label market by communication type is classified into radio frequency, infrared, near field communication, others. Near field communication holds the largest market share. The growth of this segment is anticipated due to growth of OEMs towards structuring 2-way communication networking and the near field communication technology-based products developments that ensure price related things for the retailers.
ELECTRONIC SHELF LABEL MARKET BY GEOGRAPHY
Geographically, the electronic shelf label market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. Europe holds the largest market share. France and Germany adopted electronic shelf labels at a very early stage. Electronic shelf labels were first invented in 1991 in France. Electronic shelf label is almost acquiring the market worldwide. North America is anticipated to hold the second largest share in the market of shelf electronic labels.
ELECTRONIC SHELF LABEL MARKET KEY PLAYERS
Some of the major players operating in this market include SES-imagotag (France), E Ink Holdings (Taiwan), Displaydata (UK), Opticon Sensors Europe (Netherlands), Pricer (Sweden), M2Communication (Taiwan), Diebold Nixdorf (US), Teraoka Seiko (Japan), Samsung Display Solutions (South Korea), and NZ Electronic Shelf Labelling (New Zealand).
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