PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1614457
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1614457
The electronic shelf labels market was valued at 2.34 billion in 2024 and is projected to reach USD 4.18 billion by 2029; it is expected to register a CAGR of 12.3% during the forecast period. The integration of ESL facilitates dynamic price changes, eliminating the need for manual price updat is driving the growth. Whereas lack of suitable infrastructures for wireless technologies and high installation and supporting infrastructure expenses is restraining the growth of the electronic shelf labels market.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By component, product type, communication technology, display size, end-user, region |
Regions covered | North America, Europe, APAC, RoW |
"The LCD segment is expected to grow at the second highest CAGR during the forecast period."
The LCD segment is projected to grow at the second highest CAGR during the forecast period. This growth can be attributed to the increasing penetration of LCD-based ESL solutions in retail environments where high quality clear display capabilities are important in capturing consumer attention, and to offer information which can easily be read from a distance.
The Near-field Communication type is likely to grow at the second highest CAGR during the forecast period
The Near-field Communication is expected to grow at second highest CAGR during the forecast period.
The NFC-based ESLs have unique characteristics especially in terms of their capability to interface with smart phones and other devices equipped with NFC technology. As a result, NFC-based labels are quite appropriate for various uses such as stock checking, changes in prices, as well as product verification; all of which prove the versatility of the programmes. NFC is fast, accurate and contactless - perfect for a retail environment where time is of the essence. ESLs that are NFC compatible enable retailers to make changes such as prices, product and promotional information on the go by touching the device on the NFC label.
"Europe is likely to grow at the largest share during the forecast period."
The market in Europe is expected to grow at the largest share during the forecast period. There are several reasons that support this dominance, such as established retail market, continuous integration of the advanced technologies in the operation of retail outlets, and a strong focus on enhancing customer experience. ESL is becoming incredibly popular with the European retailers as they are interested in enhancing their in-/store efficiency, minimizing costs, and giving the consumers accurate timely information on the product prices. Some of the prominent market players in Europe and their ongoing innovation and expansion schemes contribute to the growth of the market. The region's business environment, which promotes the use of efficient energy technology ad sustainability, also provides another consideration for the use of electronic shelf labels.
Breakdown of primaries
The electronic shelf labels market is dominated by a few globally established players such as VusionGroup (France), SOLUM (South Korea), Pricer (Sweden), Displaydata Ltd. (UK), Teraoka Seiko Co., Ltd. (Japan). The study includes an in-depth competitive analysis of these key players in the electronic shelf labels market, with their company profiles, recent developments, and key market strategies.
The report segments the Home automation system market and forecasts its size by component, product type, communications technology, display size, end-user, region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main region-North America, Asia Pacific, Europe, RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the electronic shelf labels ecosystem.