The global electronic shelf label (ESL) market is expected to display higher growth rate in the upcoming years. Rapid surge in the market is credited to the growing implementation of smart label identification methods over conventional labeled identification method. Other factors responsible for sustained growth of smart label market include cost effectiveness and wide accessible range of the products. Globally, market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of electronic shelf label.
Increasing preference for IoT technology in the retail sector is considered as the key industry trend associated with electronic shelf label market over the past few years. The rising demand of smart labels from various sectors such as hospitals, surgical clinics, treatment centers, and various labs, in order to achieve precise results and consistent performance is driving the market growth. Increasing popularity of electronic labeling technique among end-users is one of the major driving factors for the expansion of the smart label market, in the recent years.
An electronic shelf label (ESL) is designed to store, monitor, and transmit digital information that helps in reducing overall tracking time. Electronic shelf label (ESL) helps to minimize human intervention and errors during various industrial process, owing to their high-end precision and efficiency. The electronic shelf label (ESL) offers advanced solutions for challenges such as theft and shoplifting faced by retailers and manufacturers by delivering anti-theft and anti-counterfeit system.
The electronic shelf label market is divided based on product type that include Liquid crystal display ESL tags, electronic paper (E-paper) and full graphic E-paper ESL. Market is broadly categorized into major segments based on the application type such as supermarkets & hypermarkets, departmental stores, convenience stores, and drugstore. Supermarkets & hypermarkets segment is growing rapidly in the market with substantial revenue generation in the last few years.
The electronic shelf label (ESL) market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in retail sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth over the coming years.
Asia-Pacific region is estimated to hold a major share in the market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, booming retail sector, rising awareness level among consumers, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the electronic shelf label (ESL) market are SES-imagotag Co., Teraoka Seiko Co., Ltd., Pricer AB, LG Innotek, E Ink Corp., M2Communication, Inc., Displaydata ltd., Wincor Nixdorf International GmbH, CEST, Inc., Altierre Corp., and SoluM Co., Ltd.
Leading players of Electronic Shelf Label (ESL) including:
• Store Electronic Systems
• Samsung Electro-Mechanics (SEMCO)
• E Ink
• Opticon Sensors Europe B.V
• LG Innotek
Market split by Type, can be divided into:
• Standard (1-3 inch)
• Mid-Large (3.1-7 inch)
• Large (7.1-10 inch)
Market split by Application, can be divided into:
• Drug Stores
• Specialty Stores
Market split by Sales Channel, can be divided into:
• Direct Sales
• Distribution Sales
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA