The electronic shelf label (ESL) market was valued at USD 302.2 Million in 2016 and is expected to be worth USD 1,424.8 Million by 2023, at a CAGR of 23.98% during the forecast period. The base year considered for this report is 2016, and the forecast period for the market has been considered between 2017 and 2023.
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According to the new research report "Electronic Shelf Label Market by Product Type (LCD, Segmented E-Paper, Full-Graphic E-Paper), Communication Technology (RF, IR, NFC), Store Type (Hypermarkets, Supermarkets, Others), Component, and Geography - Global Forecast to 2023", The electronic shelf label (ESL) market is expected to be worth USD 392.3 Million in 2017 and USD 1,424.8 Million by 2023, at a CAGR of 23.98% between 2017 and 2023.
Browse 63 market data Tables and 47 Figures spread through 135 Pages and in-depth TOC on "Electronic Shelf Label Market - Global Forecast to 2023"
The growth of the ESL market is driven by the factors such as trending retail automation, more cost-efficient and less time-consuming alternative to paper labels, and increased operational efficiency with real-time product positioning.
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Full-graphic e-paper ESL expected to lead the overall electronics shelf label market during forecast period
Full-graphic e-paper ESL is expected to hold the largest share of the overall market during the forecast period.
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The largest market size of this segment is attributed to the growing demand for price automation from the Tier I and Tier II retailers that rely on these ESLs to a large extent, as these ESLs support the graphic content and information. In addition, full graphic e-paper ESLs are a key to gain customer attention and make the in-store communication dynamic.
Market for near field communication to grow at highest CAGR during forecast period
The market for near field communication (NFC) is expected to grow at the highest CAGR between 2017 and 2023. NFC is a short-range communication technology used in retail automation.
It uses a set of protocols that enables electronic devices to establish radio communication with each other by bringing the devices together. It also enables the communication between tags and labels, and shoppers and store employees willing to examine the tags and labels manually.
Europe held largest share of ESL market in 2016
Europe held the largest share of the ESL market in 2016 owing to the early adoption of ESLs in the region. In addition, the ESL solutions were first launched in France in 1991, which offered a head start to Europe got a head start in the ESL market.
The region currently holds the largest share of the overall ESL market; however, the ESL market is also growing globally at a significant rate.
The key players operating across the value chain of the ESL market are Pricer (Sweden), SES-imagotag (France), Samsung Electro-Mechanics (South Korea), E Ink Holdings (Taiwan), Displaydata (UK), M2Communication (Taiwan), Diebold Nixdorf (Germany), Opticon Sensors Europe (Netherlands), Teraoka Seiko (Japan), and NZ Electronic Shelf Labelling (New Zealand), among others.
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