Electronic Shelf Label Market Size, Share, Analysis, Report and Forecast to 2024

Electronic shelf label system is an emerging system used for displaying products pricing on shelves. Electronic shelf label system uses electronic paper (E-paper) or liquefied-crystal display (LCD) to show the product price to the customer. Electronic shelf label uses wireless communication networks such as radio, and infrared technology for communicating with the back-end database. Moreover, with help of wireless communication electronic shelf label system enables to update product information such as price within the store. These labels are also used to show graphic imaging to the customers. In addition, these labels enables incorporation of dynamic pricing in which it allows retailers to fluctuate the pricing to match the demand, inventory levels, product promotions, and to achieve the competitive advantage. Electronic shelf labels helps to eliminate the discrepancies in selling prices of the products and deliver reliable pricing to the customers. Furthermore, these labels helps to enhance the operational efficiency of the store by elimination of checking and updating of paper labels. Many companies are developing the electronic shelf labeling systems to increase the in-store maintenance and efficiency of operations. In addition, companies are providing customized solutions to adapt with specific needs of retailers.

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The growing developments and infrastructure in retail industry is leading to the increasing demand for store automation within the infrastructures. The growth of electronic shelf label market is mainly driven by rising demand from retailers for cost-efficient, fast, and secure price labelling. In addition, with increasing emphasize of retailers on the enhancement of customer experiences for accurate, and reliable pricing is contributing to the large-scale adoption of electronic shelf labels in the retail industry. The market growth is further supported by rising demand for flexible and fast price updating of the products. The rising deployment of electronic shelf labels in retail shop centers is expected to supplement the growth of electronic shelf label market during the forecast period. However, high investment required for installation of electronic shelf labels is a major concern and anticipated to restrain the growth electronic shelf label market. In addition, problematic integration between the hardware, and software of electronic shelf label is expected to reduce adoption of the systems. The increasing retail infrastructure across the world is expected to provide prominent opportunities for electronic shelf label market.

Global electronic shelf labels market is categorized by communication medium, by label type, by retailer, and by geography. By communication medium, electronic shelf label market has been classified into infrared technology, radio technology, and others (near field communication technology (NFC). Based on the label type, electronic shelf label market is segmented into E-paper and LCD. By retailer, electronic shelf label is segmented into supermarkets, hypermarkets, specialty stores, and others (food retailers). On the basis of geography, electronic shelf label market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. The adoption of electronic shelf labels by retailers across Asia Pacific and Europe is increasing primarily due to growing emphasize on operating cost reduction and store automation.

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The increasing demand for enhanced operational efficiency in retail industry has led to the growing presence of electronic shelf label manufacturers in the market. Some of the major players in global electronic shelf label market are Pricer AB, Black Label Solutions, Opticon, Inc., troniTAG GmbH, Cicor Technologies, Immediad Group, CSY Retail Systems Ltd., RSJ Software GmbH, implexis GmbH, Store Electronic Systems S.A., Displaydata Ltd., Samsung Electronics Co., Ltd., and E Ink Holdings, Inc.

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