NEW YORK, July 5, 2023 /PRNewswire/ -- The electronic shelf label market size is forecast to increase by USD 502.23 million from 2021 to 2026, at a CAGR of 16.33%, according to the recent market study by Technavio. The growth of the market will be driven by the implementation of in-store technologies, the development of the IoT ecosystem, and the rising number of retail outlets. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including Danavation Technologies Corp, De Tag Industry Sdn Bhd, Diebold Nixdorf Inc., Displaydata Ltd., E Ink Holdings Inc., Zhejiang Hanshow Technology Co. Ltd., LANCOM Systems GmbH, M2COMM, MpicoSys Solutions BV, New Zealand Electronic Shelf Labelling, Opticon Sensors Europe BV, Pricer AB, Rational Innovation, RSJ Software GmbH, S&K Solutions GmbH & Co. KG, Samsung Electronics Co. Ltd., SES-imagotag, Teraoka Seiko Co. Ltd., and troniTAG GmbH.

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.

• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Electronic Shelf Label (ESL) Market - Segmentation Assessment

The market is segmented by technology (radiofrequency, infrared, and others), product (LCD ESL, Full graphic e-paper ESL, and segmented e-paper ESL), end-user (supermarkets and hypermarkets, convenience stores, department stores, mass merchants, and drug stores, pharmacies, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa)

• The ESL market share growth by the radio frequency segment will be significant during the forecast period. The main factor for the high adoption of radio frequency is that it does not require a line of sight. As a result, this reduces the cost of infrastructure and enables ESLs to transfer all the information without any interruption. Furthermore, radio frequency uses electromagnetic waves to automatically scan, identify, and track tags attached to products. They are known as wireless communication technology. In addition, radio frequency technology can be blocked by any obstacle such as human beings and objects such as paper, rubber, and copper. Hence, these factors are expected to drive the segment growth during the forecast period.

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Electronic Shelf Label Market - Market Dynamics

Key drivers

Implementing in-store technologies is one of the key factors driving the electronic shelf label market growth. The in-store technologies such as smart shelves, ESLs, augmented reality (AR)/virtual reality (VR), and in-store assistants are being adopted by physical retail shops to improve the consumer experience. Customers increasingly prefer physical stores for buying products due to huge discounts on products like online stores. For instance, Koninklijke Ahold Delhaize started adopting in-store technologies in its stores by collaborating with Hanshow Technology. Hence, these in-store technologies are expected to drive market growth during the forecast period.

Major Trends

The rising number of strategic partnerships and alliances is a major trend shaping the electronic shelf label market. The various strategic partnerships and collaborations with technology providers, software developers, distributors, and other market participants are rapidly increasing. As a result, it helps the vendors to improve their product portfolios and expand their presence in emerging markets to make more profits. For example, SES-imagotag partnered with Ossia Inc. (Ossia) to integrate Ossia's Cota Real Wireless Power technology into its ESLs. Hence, these factors are expected to drive the market growth during the forecast period.

Significant Challenges

Growth in the e-commerce industry is one of the significant challenges restricting the electronic shelf label market. E-commerce businesses provide items and services via online shopping websites. E-commerce is currently rising at a quick rate because of advancements in communication network infrastructure, increased smartphone usage, and the emergence of digitalization. This is rapidly impacting physical retail store operators. Furthermore, retailers must restructure their business operations so that they can remain competitive in the market. Hence, the increasing e-commerce industry is expected to restrict the growth of the electronic shelf-label market during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this electronic shelf label market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the electronic shelf label market between 2022 and 2026

• Precise estimation of the size of the electronic shelf label market and its contribution to the market with a focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the electronic shelf label market across North America, APAC, Europe, South America, and the Middle East and Africa

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of electronic shelf label market vendors.

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Table of Contents

1 Executive Summary

• 1.1 Market Overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

• 4.1 Five forces summary

• 4.2 Bargaining power of buyers

• 4.3 Bargaining power of suppliers

• 4.4 Threat of new entrants

• 4.5 Threat of substitutes

• 4.6 Threat of rivalry

• 4.7 Market condition

5 Market Segmentation by Technology

• 5.1 Market segments

• 5.2 Comparison by Technology

• 5.3 Radio frequency - Market size and forecast 2021-2026

• 5.4 Infrared - Market size and forecast 2021-2026

• 5.5 Others - Market size and forecast 2021-2026

• 5.6 Market opportunity by Technology

6 Market Segmentation by Product

• 6.1 Market segments

• 6.2 Comparison by Product

• 6.3 LCD ESL - Market size and forecast 2021-2026

• 6.4 Full graphic e-paper ESL - Market size and forecast 2021-2026

• 6.5 Segmented e-paper ESL - Market size and forecast 2021-2026

• 6.6 Market opportunity by Product

7 Market Segmentation by End-user

• 7.1 Market segments

• 7.2 Comparison by End-user

• 7.3 Supermarkets and hypermarkets - Market size and forecast 2021-2026

• 7.4 Convenience stores, department stores, and mass merchants - Market size and forecast 2021-2026

• 7.5 Drug stores, pharmacies, and others - Market size and forecast 2021-2026

• 7.6 Market opportunity by End-user

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 North America - Market size and forecast 2021-2026

• 9.4 APAC - Market size and forecast 2021-2026

• 9.5 Europe - Market size and forecast 2021-2026

• 9.6 South America - Market size and forecast 2021-2026

• 9.7 Middle East and Africa - Market size and forecast 2021-2026

• 9.8 US - Market size and forecast 2021-2026

• 9.9 China - Market size and forecast 2021-2026

• 9.10 Japan - Market size and forecast 2021-2026

• 9.11 France - Market size and forecast 2021-2026

• 9.12 Germany - Market size and forecast 2021-2026

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 Danavation Technologies Corp

• 12.4 Diebold Nixdorf Inc.

• 12.5 Displaydata Ltd.

• 12.6 E Ink Holdings Inc.

• 12.7 LANCOM Systems GmbH

• 12.8 Opticon Sensors Europe BV

• 12.9 Pricer AB

• 12.10 Samsung Electronics Co. Ltd.

• 12.11 SES-imagotag

• 12.12 Teraoka Seiko Co. Ltd.

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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