The retail sector is currently focusing on increased functional efficiency, improved physical store management efficiency, effective warehouse and inventory management, and exceptional omnichannel efficiency, owing to which retailers are increasingly deploying electronic shelf labels (ESLs) in their outlets and warehouses. The adoption of automated solutions, such as ESLs, helps retailers in saving efforts, time, and costs in-store management. These systems are useful in product information display and management, delivery and service scheduling, and consistent process execution at physical stores.
Thus, the surging need for enhanced functional efficiency in the retail industry along with the growing focus of retailers on improving the shopping experience of customers will contribute to the electronic shelf label market growth during the forecast period (2021–2030). Accordion to P&S Intelligence, the market revenue stood at ~$800 million in 2020. Adoption of ESL system helps retailers increase their profit as the centralized control of this technology enables easy updates, facilitates time-saving, and ensures reliability.
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In the recent past, retailers preferred full-graphic e-paper over liquid crystal display and segmented e-paper, due to its high energy efficiency and ability to project graphical objects. In addition to the retail outlets, such as specialty stores, supermarkets, non-food retail shops, and hypermarkets, the industrial sector also uses varying types of ESLs to enhance operational efficiency. ESLs used in the retail and industrial sectors are available in different display sizes— less than 3 inches, 3–7 inches, 8–10 inches, and more than 10 inches.
The communication technology segment of the electronic shelf label market is categorized into near-field communication (NFC), radio frequency, infrared, and others. Among these, the NFC category is expected to demonstrate the fastest growth during the forecast years, because NFC-enabled ESLs allow contactless and rapid data transfer between devices. In recent years, NFC technology has become an additional feature in several point of sale (POS) devices and smartphones, owing to which NFC-enabled ELSs are being increasingly adopted in retail stores to ensure efficient operations.
Whereas, the European electronic shelf label market is expected to exhibit the fastest growth throughout the forecast period, owing to the existence of a strong retail sector and the existence of eminent market players in the region. Moreover, the extensive labor cost in European nations will also boost the demand for ESLs in stores and warehouses in the region. The large-scale adoption of ESLs in retail outlets and warehouses helps retailers in achieving higher productivity and efficiency by minimizing human intervention.
Browse detailed report on Electronic Shelf Label Market By Product Type, Communication Technology, Component, Display Size and Forecast to 2030
Thus, the mounting focus of retailers on improved functional efficiency, on account of the rapid automation of the industry, is encouraging the adoption of ESLs across the world.
Market Size Breakdown by Segments
By Product Type
- Full-Graphic E-Paper
- Segmented E-Paper
- Liquid Crystal Display
By Communication Technology
- Radio Frequency
- Infrared
- Near-Field Communication (NFC)
By Component
- Displays
- Batteries
- Transceivers
- Microprocessors
By Display Size
- Less than 3 Inches
- 3–7 Inches
- 8–10 Inches
- More than 10 Inches
By End User
- Industrial
- Retail
- Hypermarkets
- Supermarkets
- Non-food retail shops
- Specialty stores
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Arabia
- South Africa
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