Electronic Shelf Label Market Size, Share, Industry Trends and Forecast to 2030

Market Size & CAGR of Electronic Shelf Label Market in 2021

The global electronic shelf label market size was valued at USD 630 million in 2021. It is expected to grow at a CAGR of 15% from 2021 to 2026. The increasing adoption of automation and digitalization in the retail sector is driving the growth of the market. Electronic shelf labels are electronic tags used in retail stores to display pricing and product information. These labels help in improving operational efficiency, reducing pricing errors, and enhancing customer experience.

COVID-19 Impact on the Electronic Shelf Label Market

The COVID-19 pandemic had a mixed impact on the electronic shelf label market. On one hand, the disruptions in the supply chain and retail operations due to lockdowns and restrictions hampered the growth of the market. On the other hand, the increased focus on contactless shopping and hygiene measures in stores accelerated the adoption of electronic shelf labels. Retailers were looking for solutions to minimize human interaction and ensure accurate pricing, which boosted the demand for electronic shelf labels.

Electronic Shelf Label Dynamics

The electronic shelf label market is driven by the growing trend of omnichannel retailing, the need for real-time pricing updates, and the increasing demand for operational efficiency in retail stores. The integration of IoT and AI technologies in electronic shelf labels is further fueling market growth. However, the high initial cost of deployment and concerns about data security are some of the factors hindering the market growth. Companies in the market are focusing on product innovation and strategic partnerships to gain a competitive edge.

Segments and Related Analysis

By Technology:

- LCD Electronic Shelf Labels - E-Paper Electronic Shelf Labels - Full-Graphic Electronic Shelf Labels

By End-User:

- Hypermarkets - Supermarkets - Specialty Stores - Others

By Region Analysis

North America

- The North American electronic shelf label market is witnessing significant growth due to the presence of major retail chains and the adoption of advanced technologies in the region.

Europe

- Europe is a leading market for electronic shelf labels, driven by the strong presence of supermarkets and hypermarkets in the region.

Asia Pacific

- The Asia Pacific electronic shelf label market is growing rapidly due to the increasing demand for digitalization in the retail sector and the rising adoption of smart technologies.

Latin America

- The electronic shelf label market in Latin America is witnessing steady growth driven by the expanding retail industry and the increasing focus on enhancing customer experience.

Middle East and Africa

- The MEA electronic shelf label market is poised for growth due to the rapid urbanization, changing consumer preferences, and the increasing number of retail outlets in the region.

Key Market Players and Competitive Landscape

- Some of the key players in the electronic shelf label market include Displaydata, SES-imagotag, Pricer, Altierre, Samsung Electro-Mechanics, E-Ink Holdings, and Diebold Nixdorf. - The market is highly competitive, with players focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market presence.

Recent Happenings in the Electronic Shelf Label Market

- In 2021, Displaydata launched a new range of e-paper electronic shelf labels with improved battery life and connectivity features. - SES-imagotag partnered with a leading supermarket chain to deploy its electronic shelf labels across their stores, enhancing pricing accuracy and customer experience. - Pricer introduced a cloud-based platform for remote management of electronic shelf labels, enabling retailers to update pricing information in real-time.