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According to the latest research, the global Electronic Shelf Label market size was valued at USD 1413.3 million in 2022 and is expected to expand at a CAGR of 22.64% during the forecast period, reaching USD 4807.67 million by 2028.
Electronic shelf label is a kind of electronic display device placed on the shelf, which can replace the traditional paper price label. Each electronic shelf label is connected with the computer database of the shopping mall through wired or wireless network, and the latest commodity price is displayed on the screen of the electronic shelf label. Electronic shelf labeling actually successfully integrates the shelf into a computer program, getting rid of the condition of manually changing the price tag, and realizing the price consistency between the cashier and the shelf.
Influence of COVID-19 Outbreak on Electronic Shelf Label (ESL) Industry Development
The coronavirus pandemic hampered the ESL market growth due to stringent lockdown measures imposed by government administrations globally. The temporary shutting of manufacturing plants hampered the global supply chains, in turn, impacting the overall market expansion. The overall market conditions worsened owing to the closure of industrial facilities, restrictions on public movement reduced footfall in retail stores, and hindrance in the international trade. The market has witnessed a decline in company sales and marketing activities, cancelled product launches, temporary business shutdowns and disruptions to supply chain and manufacturing activities. A considerable number of companies are still struggling due to manufacturing delays, which are mainly due to restrictions on raw materials and on-site labor. For some electronic shelf label manufacturers, due to social distancing measures and supply chain delays, the crisis has slowed down product delivery and has had a certain impact on revenue. Apart from production capacity, the several lockdown measures imposed by governments have led to the closures of retail stores. This has led to an unprecedented spike in e-commerce adoption, causing a dent in physical sales.
Some factories began to resume operation, however, enterprises need to protect the life and health of employees while operating production, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure their health. These measures will increase production costs and affect the development of enterprises.
High Initial costs required to set up ESL
The asymmetry between price and value of electronic shelf label and customers' reluctance to pay premium are the biggest market development problems facing the electronic shelf label industry at present. In terms of price, customers think the current electronic shelf label is still too high. One-time investment in the early stage, the cost is high for customers, and the return on investment in the later stage is not obvious; In terms of value, customers think the intuitive value brought by electronic shelf label is still not enough.
Lack of skilled labor force
Talent shortage caused by insufficient talent reserve is the biggest obstacle for the retail industry to use new retail tools. It is an organizational barrier of industry nature. Enterprise staff with low education level are prone to problems when using electronic shelf labels. For example, when changing prices through handheld terminals, they do not follow the process, resulting in price change information is not uploaded to the server, and there is a mismatch between background information and front-end information display.
Increasing popularity of NFC-based payment techniques
Retailers in the market are focusing on adopting self-checkout systems that enable customers to pay instantly while shopping by scanning the ESL using their smartphones. Electronic labels enable customers to effortlessly attain product data and pay conveniently using NFC cards or mobile phones. Scanning the label leads the customer's smartphone to the product webpage for more information through built-in NFC. The customer can also make payments instantly, eliminating the need to stand in long queues at cash counters. The increasing focus of retailers on maximizing profitability using digital technologies will stimulate the acceptance of electronic labels.
Region Overview:
In global comparison, a significant portion of the revenue was generated in Europe (49.17% in 2022).
Company Overview:
SES-imagotag is one of the major players operating in the Electronic Shelf Label market, holding a share of 25.16% in 2023.
SES-imagotag
SES-imagotag is the world leader in smart digital labels and Retail IoT solutions for physical retail, serving over 300 large retailers around the world in Europe, Asia and America.
Pricer
Pricer is a leading global technology company serving the rapidly growing smart retail market with in-store digital solutions that enhance both store performance and the shopping experience. Through electronic shelf labels, advanced technology, such as optical wireless communication and AI, and continuous innovation, Pricer offers the foundation for in-store communication and efficiency. The industry-leading Pricer platform delivers benefits from 30years of deployment experience and is fast, robust, interconnectable and scalable.
Segmentation Overview:
As for product types, the Segmented e-Paper ESL segment held the largest market share in 2022.
LCD
LCD screen cost lower than electronic ink screen, suitable for dynamic display, full color optional, rich display effect. However, LCD has high power consumption, requires continuous power supply, limits the choice of application areas in the store, and poses security risks.
Segmented e-Paper ESL
An e-paper display is made up of capsules in a thin film, with each particle within the capsules emitting a different color and different electric charge. Electrodes are placed above and below the capsule film and when a charge is applied to an individual electrode, the color particle will move to either the top or the bottom of a capsule, allowing the ESL to display a certain color. E-paper generally uses infrared or radio communication technology to communicate from the transmitter to the tags.
Segmented displays are intended for applications where the display requirements can be met using predefined segments that can be turned on or off. This is similar to what one would see in a typical calculator with a numeric or alphanumeric display.
Full Graphic e-Paper ESL
A full-graphic e-paper ESL displays the price, QR code, barcode, and other messages on a single screen. In addition, full graphical e-paper ESLs are a key to gain customer attention and make the in-store communication dynamic.
Application Overview:
The market's largest segment by application is the segment Hypermarkets & Supermarkets, with a market share of 40.62% in 2022.
This report elaborates on the market size, market characteristics, and market growth of the Electronic Shelf Label industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Electronic Shelf Label. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Electronic Shelf Label Market Report Include:
Market Size Estimates: Electronic Shelf Label market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Electronic Shelf Label market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Electronic Shelf Label market
Segment Market Analysis: Electronic Shelf Label market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Electronic Shelf Label market situations and prospects in major and top regions and countries
Electronic Shelf Label Market
Electronic Shelf Label Industry Chain: Electronic Shelf Label market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Electronic Shelf Label Industry News, Policies by regions
Electronic Shelf Label Industry Porters Five Forces Analysis
Key players in the global Electronic Shelf Label market are covered in Chapter 2:
Hanshow
E Ink Holdings
M2Communication
Opticon Inc.
Pricer
SOLUM
SES-imagotag
Teraoka Seiko Co., Ltd.
In Chapter 6 and Chapter 9, on the basis of types, the Electronic Shelf Label market from 2018 to 2028 is primarily split into:
LCD
Segmented e-Paper ESL
Full Graphic e-Paper ESL
In Chapter 7 and Chapter 10, on the basis of applications, the Electronic Shelf Label market from 2018 to 2028 covers:
Hypermarkets & Supermarkets
Convenience Stores
Specialty Stores
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Electronic Shelf Label market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Electronic Shelf Label industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Electronic Shelf Label market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Electronic Shelf Label industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Electronic Shelf Label market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Electronic Shelf Label market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Electronic Shelf Label market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
Electronic shelf label is a kind of electronic display device placed on the shelf, which can replace the traditional paper price label. Each electronic shelf label is connected with the computer database of the shopping mall through wired or wireless network, and the latest commodity price is displayed on the screen of the electronic shelf label. Electronic shelf labeling actually successfully integrates the shelf into a computer program, getting rid of the condition of manually changing the price tag, and realizing the price consistency between the cashier and the shelf.
Influence of COVID-19 Outbreak on Electronic Shelf Label (ESL) Industry Development
The coronavirus pandemic hampered the ESL market growth due to stringent lockdown measures imposed by government administrations globally. The temporary shutting of manufacturing plants hampered the global supply chains, in turn, impacting the overall market expansion. The overall market conditions worsened owing to the closure of industrial facilities, restrictions on public movement reduced footfall in retail stores, and hindrance in the international trade. The market has witnessed a decline in company sales and marketing activities, cancelled product launches, temporary business shutdowns and disruptions to supply chain and manufacturing activities. A considerable number of companies are still struggling due to manufacturing delays, which are mainly due to restrictions on raw materials and on-site labor. For some electronic shelf label manufacturers, due to social distancing measures and supply chain delays, the crisis has slowed down product delivery and has had a certain impact on revenue. Apart from production capacity, the several lockdown measures imposed by governments have led to the closures of retail stores. This has led to an unprecedented spike in e-commerce adoption, causing a dent in physical sales.
Some factories began to resume operation, however, enterprises need to protect the life and health of employees while operating production, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure their health. These measures will increase production costs and affect the development of enterprises.
High Initial costs required to set up ESL
The asymmetry between price and value of electronic shelf label and customers' reluctance to pay premium are the biggest market development problems facing the electronic shelf label industry at present. In terms of price, customers think the current electronic shelf label is still too high. One-time investment in the early stage, the cost is high for customers, and the return on investment in the later stage is not obvious; In terms of value, customers think the intuitive value brought by electronic shelf label is still not enough.
Lack of skilled labor force
Talent shortage caused by insufficient talent reserve is the biggest obstacle for the retail industry to use new retail tools. It is an organizational barrier of industry nature. Enterprise staff with low education level are prone to problems when using electronic shelf labels. For example, when changing prices through handheld terminals, they do not follow the process, resulting in price change information is not uploaded to the server, and there is a mismatch between background information and front-end information display.
Increasing popularity of NFC-based payment techniques
Retailers in the market are focusing on adopting self-checkout systems that enable customers to pay instantly while shopping by scanning the ESL using their smartphones. Electronic labels enable customers to effortlessly attain product data and pay conveniently using NFC cards or mobile phones. Scanning the label leads the customer's smartphone to the product webpage for more information through built-in NFC. The customer can also make payments instantly, eliminating the need to stand in long queues at cash counters. The increasing focus of retailers on maximizing profitability using digital technologies will stimulate the acceptance of electronic labels.
Region Overview:
In global comparison, a significant portion of the revenue was generated in Europe (49.17% in 2022).
Company Overview:
SES-imagotag is one of the major players operating in the Electronic Shelf Label market, holding a share of 25.16% in 2023.
SES-imagotag
SES-imagotag is the world leader in smart digital labels and Retail IoT solutions for physical retail, serving over 300 large retailers around the world in Europe, Asia and America.
Pricer
Pricer is a leading global technology company serving the rapidly growing smart retail market with in-store digital solutions that enhance both store performance and the shopping experience. Through electronic shelf labels, advanced technology, such as optical wireless communication and AI, and continuous innovation, Pricer offers the foundation for in-store communication and efficiency. The industry-leading Pricer platform delivers benefits from 30years of deployment experience and is fast, robust, interconnectable and scalable.
Segmentation Overview:
As for product types, the Segmented e-Paper ESL segment held the largest market share in 2022.
LCD
LCD screen cost lower than electronic ink screen, suitable for dynamic display, full color optional, rich display effect. However, LCD has high power consumption, requires continuous power supply, limits the choice of application areas in the store, and poses security risks.
Segmented e-Paper ESL
An e-paper display is made up of capsules in a thin film, with each particle within the capsules emitting a different color and different electric charge. Electrodes are placed above and below the capsule film and when a charge is applied to an individual electrode, the color particle will move to either the top or the bottom of a capsule, allowing the ESL to display a certain color. E-paper generally uses infrared or radio communication technology to communicate from the transmitter to the tags.
Segmented displays are intended for applications where the display requirements can be met using predefined segments that can be turned on or off. This is similar to what one would see in a typical calculator with a numeric or alphanumeric display.
Full Graphic e-Paper ESL
A full-graphic e-paper ESL displays the price, QR code, barcode, and other messages on a single screen. In addition, full graphical e-paper ESLs are a key to gain customer attention and make the in-store communication dynamic.
Application Overview:
The market's largest segment by application is the segment Hypermarkets & Supermarkets, with a market share of 40.62% in 2022.
This report elaborates on the market size, market characteristics, and market growth of the Electronic Shelf Label industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Electronic Shelf Label. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Electronic Shelf Label Market Report Include:
Market Size Estimates: Electronic Shelf Label market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Electronic Shelf Label market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Electronic Shelf Label market
Segment Market Analysis: Electronic Shelf Label market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Electronic Shelf Label market situations and prospects in major and top regions and countries
Electronic Shelf Label Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Electronic Shelf Label Industry Chain: Electronic Shelf Label market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Electronic Shelf Label Industry News, Policies by regions
Electronic Shelf Label Industry Porters Five Forces Analysis
Key players in the global Electronic Shelf Label market are covered in Chapter 2:
Hanshow
E Ink Holdings
M2Communication
Opticon Inc.
Pricer
SOLUM
SES-imagotag
Teraoka Seiko Co., Ltd.
In Chapter 6 and Chapter 9, on the basis of types, the Electronic Shelf Label market from 2018 to 2028 is primarily split into:
LCD
Segmented e-Paper ESL
Full Graphic e-Paper ESL
In Chapter 7 and Chapter 10, on the basis of applications, the Electronic Shelf Label market from 2018 to 2028 covers:
Hypermarkets & Supermarkets
Convenience Stores
Specialty Stores
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Electronic Shelf Label market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Electronic Shelf Label industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Electronic Shelf Label market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Electronic Shelf Label industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Electronic Shelf Label market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Electronic Shelf Label market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Electronic Shelf Label market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
