The report “Electronic Shelf Label Market with Covid-19 Impact by Product Type (LCD, E-paper, Full-graphic E-paper), Communication (RF, IR, NFC), End User (Hypermarkets, Supermarkets, Specialty), Component, Display Size, and Geography – Global Forecast to 2026 “, is expected to grow to USD 2,092 million by 2026 from an estimated USD 826 million in 2021, at a CAGR of 20.4% during the 2021-2026 period. The rapid growth of the global electronic shelf label market is attributed to the factors such as the digitalization of stores and prevalence of retail automation trend, cost-effective and less time-consuming alternative to paper labels, high demand for price optimization among retail stores, increased operational efficiency with real-time product positioning are some of the prominent factors for the growth of the electronic shelf label market globally.
Major players in the market are:
- SES-image tag (France),
- Pricer (Sweden),
- E Ink Holdings (Taiwan),
- Displaydata (UK),
- M2Communication (Taiwan),
- Samsung Display Solutions (South Korea),
- Diebold Nixdorf (US),
- Opticon Sensors Europe (Netherlands),
- Teraoka Seiko (Japan), and
- NZ Electronic Shelf Labelling (new Zealand). among others.
Full-graphic e-paper to hold the largest market share during the forecast period
The full-graphic e-paper ESLs are expected to hold the largest market share in the electronic shelf label market during the forecast period. The high share of the full-graphic e-paper segment can be attributed to the increasing demand for product price automation by tier I and tier II retailers that use full-graphic e-paper electronic shelf labels to support graphic content and information. In addition, full-graphic e-paper electronic shelf labels act as a key to gain the attention of customers and make the in-store communication dynamic
Near-field communication technology is expected to witness the highest growth rate during the period 2021 and 2026
The near-field communication (NFC) technology is expected to witness high growth during the forecast period. The growth of this segment can be attributed to the near-field communication technology-based product developments and inclination of OEMs toward designing 2-way communication networks that ensure price integrity for retailers. The rising demand for interactive displays in the retail outlets to enhance the customer shopping experience is another factor for the high growth of near-field communication technology.
Europe to hold the largest share of the electronic shelf label market during the forecast period
Europe is expected to hold the largest share of the electronic shelf label market during 2021–2026, as countries such as Germany and France have been early adopters of electronic shelf labels in the region. Electronic shelf labels were first launched in France in 1991. Hence, Europe got a head start in the electronic shelf label market, and the region currently holds the largest share of the overall market. The electronic shelf label market is also growing at a significant rate in other regions of the world. North America is estimated to account for the second-largest share of the market in 2021.