Vertical: SEMIBase Year: 2018
Market Size (2018)
$456.34M
Projected (2024)
$1.55B
CAGR (2013–2024)
18.9%
Key Players
10+
Electronic shelf label (ESL) is one of the widely used devices that offer several benefits to several retail segments such as departmental stores, drug stores, supermarkets and specialty stores. E-paper display based ESLs are cheaper in terms of maintenance as compared to traditional printed labels and offers features such as minimum power consumption, daylight readability, and minimum or no strain on the eye. The rising adoption of IoT in retail and growing concerns to save environment by replacing paper with e-paper display devices are some of the major factors fueling the growth of electronic shelf label (ESL) market. LCD based ESLs are slowly being depleted and the manufacturers are primarily focusing on advancement of e-ink displays. E-paper display has acquired the larger market share among the two and continues to dominate throughout the forecast period. Although the ESLs are gaining traction in all parts of the world, its limited color richness and fully enhanced graphic capabilities are acting as challenges for its growth. ESL manufacturers are conducting extensive research to overcome these challenges and make the technology more lucrative than ever before. The study also indicates the ongoing research for the development of battery-less ESLs which is expected to improve its usability and adoption.
In this study, the global electronic shelf label (ESL) market is segmented based on type and application. By type, the electronic shelf label (ESL) market is segmented into LCD ESL and E-paper ESL. Among these, E-paper ESL dominated the market in 2018. By application the market is classified into department store/mass merchandise, grocery store/supermarket, drug store, specialty store. Grocery store/supermarket segment dominated the market in 2018 and specialty stores segment is growing at highest CAGR.
based on region, this study includes North America, Europe, Asia-Pacific, Middle East and Africa and South America. North America is further segmented into the US, Canada, and Mexico; Europe into Germany, the UK, France, Russia, Italy and the rest of Europe; Asia-Pacific into China, Japan, India, Korea and the rest of Asia-Pacific. Middle East and Africa into Saudi Arabia, UAE, South Africa, Egypt, and Rest of the Middle East & Africa; and South America into Brazil, Argentina, Colombia and Rest of South America.
The global electronic shelf label (ESL) market comprises various manufacturers, government research firms, universities, and technical institutes that engage in developing and making advancement in the technological industry. The major players considered in the scope of horticulture lighting market are SES-IMAGOTAG, Pricer AB, SAMSUNG, E Ink Holdings Inc., Diebold Nixdorf, Incorporated, Displaydata Limited, Hanshow Technology CO., LTD, Altierre Corporation, M2COMMUNICATION INC, and Solum among others. The competition in the electronic shelf label (ESL) market segment is rapidly increasing owing to the entry of new players in the market serving various application areas. Partnerships, agreements, and collaboration are observed to be the most prominent strategy adopted by the major vendors from 2017 to 2019 to improve their position and excel in the electronic shelf label (ESL) market. For Instance, in October 2019, SES-imagotag has partnered with Wirecard to develop a joint ESL-enabled (Electronic Shelf Label) mobile payment solution for in-store shoppers. Under this partnership, the companies are developing a "pay to tag" solution that will connect Wirecard's mobile payment platform with all SES-imagotag cloud-connected IoT labels.
The Electronic Shelf Label ESL Market market is projected to grow at a CAGR of 18.9% from 2013 to 2024.
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View Subscription PlansElectronic shelf label (ESL) are the devices used for displaying the information of the products including pricing, discounts, and others. These labels are by the departmental stores, grocery, and others. These devices used e-paper and liquid-crystal displays (LCD) for showcasing the product price to the customer. Additionally, these displays are used for reducing the manual work and updates automatically whenever there is a change in the prices of the products using various communication network.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2013 – 2017
Forecast Period
2019 – 2024
Primary Interviews
150+
Historical data (2013–2018) and forecast period (2018–2024)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe electronic shelf label (ESL) market has witnessed a significant competition between the top providers of electronic labels. The growth of these players majorly depends upon the market conditions, digitization in retail stores, technological advancements, and industry development. Thus, it becomes necessary for the vendors to integrate state-of-the-art technology and develop cost-effective solutions for users to maintain their market position and gain a competitive advantage. Thus, the players in the market are constantly focusing on research & development and product expansion strategies to maintain their stronghold on the market.
SES-imagotag, Pricer AB, SAMSUNG, E Ink Holdings Inc., Diebold Nixdorf, Incorporated, Displaydata Limited, Hanshow Technology CO., LTD, Altierre Corporation, M2COMMUNICATION INC., and Solum are among the major players holding a prominent share in the electronic shelf label (ESL) market. The demand of replacing paper with electronic paper to save the environment is one of the factors encouraging these companies to develop highly efficient electronic labels that consume minimal power. Availability of multicolor display labels and cost effectiveness of the product is enabling the players in the market to stay competitive and gain a major share of customers. Apart from technological innovations and development of existing product portfolio, these players have entered into various partnerships and strategic alliances with locally existing companies to expand their geographical presence.
As per the study by Wantstats, SES-imagotag holds the maximum share of 22.64% in the global electronic shelf label (ESL) market. The company provides products and solutions for omnichannel retailers. With label sizes ranging from 1.6” to 12.2”, the company has sufficed the need for major displays in retail store shelves. It has also developed a cloud infrastructure wherein the applications focus on store automation, shopper engagement, and data analytics thereby, gaining competitive advantage in the electronic shelf label (ESL) market.
Pricer AB is also one of the prominent players in the global electronic shelf label (ESL) market holding a share of 17.79% of the total market. The company is solely into electronic tags and focuses on developing high performance products and integrating them with its technology portfolio. In addition to this, the company has successfully maintained strategic partnerships with retail stores, resulting in the expansion of its market in major economies.
Diebold Nixdorf, Incorporated holds a share of 11.63% in the global electronic shelf label (ESL) market. The company’s portfolio of innovative self-service retail solutions is designed to provide speedier transactions, shorter billing lanes, and efficient allocation of labor, thus attracting multiple retail chains to opt for their solutions. The company is also focusing on tapping various industry vertical across geographies to expand its market reach in these geographies.
E Ink Holdings Inc. holds a market share of 9.25%. The company is exclusively into electronic inks, films, and flexible display tags. The company focuses on integrating emerging technologies such as the Internet of things (IoT) and smart technology in their existing product portfolio to gain a competitive edge in electronic shelf label (ESL) market. It has also partnered with major semiconductor firms to build integrated power management ICs (PMIC) that are compliant with e-ink voltage requirements for e-ink based displays.
Displaydata Limited holds fifth position in the electronic shelf label (ESL) market with a market share of 3.77%. The company provides fully graphic electronic shelf labels and primarily focuses the retail segment. Its ESL solution allows retailers and store owners to easily align prices across channels and deploy price and promotional offers across the store in real-time with better speed, accuracy, and consistency.
Apart from the above-mentioned players, other players including SAMSUNG, M2COMMUNICATION INC., Hanshow Technology CO., LTD, Altierre Corporation, and SoluM among others also have a considerable presence in the electronic shelf label (ESL) market. These players focus on collaborating with other businesses with strong market presence to expand their market reach thereby, diversifying their product portfolio.
Market estimates by geography (2024)
InsightEurope leads with $491.46M by 2024, while Asia Pacific is projected to grow fastest at a 22.0% CAGR.
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View Subscription Plans| REGION | 2013 | 2018 | 2024 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $20.99M | $49.74M | $142.30M | 19.0% | 9% |
| North America | $69.74M | $160.03M | $437.97M | 18.2% | 28% |
| Asia Pacific | $38.28M | $105.30M | $341.08M | 22.0% | 22% |
| Europe | $83.21M | $182.90M | $491.46M | 17.5% | 32% |
| South America | $19.91M | $48.07M | $139.66M | 19.4% | 9% |
| Total | $232.13M | $546.04M | $1.55B | 18.9% | 100% |
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Analytical insights on Electronic Shelf Label ESL Market covering market dynamics, competitive landscape, and strategic outlook.
The Electronic Shelf Label ESL Market market is projected to reach $1.55B by 2024, growing at 18.9% CAGR.
The factors responsible for the growth of electronic shelf label (ESL) include rising adoption of IoT in retail and industries and growing environmental concerns. However, the high initial investments and limited color richness and video capabilities act as restraint and challenge respectively.
Advancements in IoT technology have enhanced the working efficiency in terms of communication, time management, reducing manual labor, and offering useful and important data in real-time to the individuals in various industrial verticals. Rapid developments in technologies and the introduction of IoT technology have simplified the sharing of information in real-time. Various retail stores, industries, and companies, among others, are using ESLs for labeling their products placed within a shelf. These labels allow store managers, retail managers, and companies to maintain the inventory count across the organization or stores. In retail stores, ESLs are used for displaying the prices, discounts, offers, availability of the products. The ESLs use the Internet and wireless connectivity to communicate with the main servers for changing the prices and discounts on a product resulting in the reduction of manual work and recurrent errors. Furthermore, these labels also reduce the usage of paper labels and synchronizes the prices of the products with the online and offline channels; this enables displaying the same prices on both the channels and reduces the manual work for changing the prices of the goods on a regular basis.
Various companies are using the ESLs to increase their work productivity and efficiency; for instance, in January 2019, Kroger Co. collaborated with Microsoft Corporation for the development of proprietary technology called EDGE (Enhanced Display for Grocery Environment) Shelf, which will share the real-time information from all over the store using the Internet of Things sensors; thus, this leads to the growth of the global electronic shelf label (ESL) market across the globe.
High initial investments required to set up these products in stores is one of the major restraining factors in the global electronic shelf label (ESL). Small retailers, specifically in the developing regions such as South America, Africa, and Asia-Pacific cannot afford the high investments required for ESLs as a connected infrastructure is required for these devices. Also, additional costs of electricity, upgrading of software, network connections, and maintenance of hardware, among others further increase the overall setup cost, which is expected to hinder the growth of the market. Moreover, the enterprises in these regions prefer to employ manual labor an alternative for ESLs. Additionally, the lack of awareness among the individuals associated with the benefits of ESLs is also expected to restrain the growth of the market.
Although e-paper display has a wide range of applications, its limited color richness and video capabilities restrict its scope. Most of the e-paper displays support only two colors—black and white, and the speed of videos or animations is also slower in comparison to LCD or LED displays. In 2017 and 2018, few vendors launched e-paper displays with multi-color support; however, the color richness is far inferior as compared to LCD or LED displays. The major vendors are extensively investing in R&D to overcome these challenges and are aiming at manufacturing e-paper display devices with greater color richness and high video quality. Furthermore, the vendors are also researching on increasing the resolution of the e-paper display to enhance clarity.
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Profiles of 107 companies operating in the Electronic Shelf Label ESL Market market, including revenue, employee count, and market positioning where available.
Showing 107 of 107 companies
Company Headquarters: Taiwan Founded: 1992 Workforce: ~2,600 Company Working: E Ink Holdings Inc. engages in the research, development, production, and distribution of electronic paper display panels. It provides thin film transistor liquid crystal displays and electronic paper display modules for electronic readers, electronic shelf labels, and electronic notes, among others. The company provides electronic paper display (EPD) products, which are used in electronic books. It also offers segment displays and electronic readers, as well as thin-film transistor (TFT) liquid crystal display (LCD) panels and modules, which are used in automobile and entertainment systems, navigation products for aerospace and marine, security monitoring systems, medical instruments, video telephones, video cameras, portable digital versatile disks (DVDs), digital photo frames, industrial instruments, and point of sale (POS) systems, among others. The company caters to various industry verticals such as consumer electronics, industrial, automotive, aerospace & defense, and retail across Asia and the Americas.
Company Headquarters: Sweden Founded: 1991 Workforce: ~120 Company Working: Pricer AB engages in the provision of in-store digital shelf solutions. The company develops components and systems for communication in retail, electronics, and specialty stores. Its mobile shopping application offers electronic shelf labels, shopping routes, product information, store geofencing, store tasks, planogram compliance, and click and collects application. Its ESL solution provides reliable and scalable optical wireless communications systems in the near-infrared spectrum.
Company Headquarters: France Founded: 1992 Workforce: ~380 Company Working: SES-imagotag engages in the design and marketing of electronic shelf labeling systems for the retail sector. It offers store electronic systems (SES), electronic labels, software, radio, and mounting systems. The company caters to hypermarkets, supermarkets, electronics stores, garden centers, pharmacies, and service stations, among other retail stores. Its electronic shelf labels include products with e-paper, TFT, and graphic LCD display technologies. The software suite offers customers with features including centralized and dynamic price management, stock management, product geolocation, self-scan mobile, and targeted offers along with the monitoring of the installed equipment for maintenance purposes. The company majorly operates in North America, Europe, and Asia.
Company Headquarters: South Korea Founded: 2015 Workforce: ~400 Company Working: SoluM engages in the provision of power, tuner, and electronic shelf label components. The company is a spin-off of the Digital Module division of Samsung Electro-Mechanics. The company operates through three business segments, power module, tuner, and ESL. The power module segment develops integrated power electronics modules (IPEM) by modularizing control ICs and passive devices. The tuner segment supplies digital tuner for broadcasting signal reception used in TV and STB products. Its ESL segment provides 7-segment information labels with the help of 3C-Graphic designing. It operates across North America, Europe, and Asia.
Company Headquarters: Taiwan Founded: 2012 Workforce: ~100 Company Working: M2COMMUNICATION INC. (M2COMM) specializes in ultra-low-energy wireless networking technologies, Internet-of-Things (IoT) communication systems, and chipset solutions. The company develops and designs automated process equipment for retail, healthcare, industrial, and commercial sectors. The company manages its operations from Taiwan, Japan, and France to cater to customers across Europe and Asia.
Company Headquarters: US Founded: 2003 Workforce: ~100 Company Working: Altierre Corporation engages in the development and manufacture of wireless radio frequency information systems. The company offers digital signage and pricing solutions, single-platform hardware, software, and other information technology services for retail, automotive, and manufacturing industry verticals. It primarily operates its business from the US and Europe.
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