Global Electronic Shelf Label Market Outlook to 2024: A $1.5 Billion Industry Opportunity

DUBLIN, July 29, 2019 /PRNewswire/ -- The "Electronic Shelf Label Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

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The electronic shelf label market was valued at USD 478.6 million in 2018, and is expected to reach a value of USD 1.5 billion by 2023, growing at a CAGR of 21.42% over the forecast period 2019-2024.

Key Highlights

    --  High accuracy and reduction in labor cost is growing the market as
        compare to conventional label changing. This has significantly reduced
        the risk of human error in turn ensuring potential pricing compliances.
        Shoppers lose trust in a company if the in-store prices don't align with
        the online display, and unfortunately, this is often the reality they
        encounter by which the ESL helps to fix any price errors.
    --  NFC penetration in the industry is expected to gain momentum over the
        coming years due to the increasing adoption of NFC technology in
        multiple devices such as POS systems and smartphones. This allows the
        retailers to integrate these devices with the existing handheld devices,
        lowering the overall installation cost of these labels, which is a key
        drivers for the growth of market.
    --  However, high initial investments required to set up these products in
        stores and minimum knowledge about the usefulness of the ESL system are
        the major restraining factors in the electronic shelf label market.

Major Market Trends

NFC Mobile Payment is Owing to Increase the Market in Retail Sector

    --  Due to increase in the NFC (Near Field Communication) enabled smartphone
        technology, NFC in Electronic Shelf Labels is growing in retail sector
        which is energy-efficient shelf management at low cost. Near Field
        Communication (NFC) is embedded and uses proximity to create simplified
        transactions, data exchange, and brief connections. Prior to purchase,
        NFC-enabled smart packages and signage can provide timely product
        information and even real-time digital offer to the customers.
    --  In retail, the NFC technology significantly adds up to standard ESLs
        which display the price and facilitate the stock management, by enabling
        price updates at any time which simplifies the customer interactions via
        a simple tap on an NFC-enabled smartphone.
    --  Majority of the customer prefer NFC technology over other digital
        innovations, such as QR code, bluetooth beacon, due to its high speed
        and improved control on information. This NFC enabled device helps in
        collecting the details of customers, their shopping interests and
        frequently purchased items which facilitates personalized marketing and
        thus attracts customer to visit again, which enables to increase the
        market.
    --  Casino is a French supermarket which has used NFC tags in front of every
        product on the shop shelves. Customers touch their own phones to the tag
        and can view product info or add to their mobile app's basket, by
        viewing personalized prices and also activating instant promotions

North America to Account for a Major Share

    --  North America is the largest market for electronic shelf labels
        globally. The huge market in this region can be attributed to the vast
        presence of retail stores, both small and big, across the region.
    --  Moreover, favorable government initiatives in the US towards
        technological innovation and integration of automated products across
        all industry verticals, specifically in retail automation is boosting
        the demand for the market.
    --  The US has been led by retail giants, such as Wal-Mart, driving the
        upsurge in activity, largely contributing to the market growth in the
        region. The country has been one of the largest logistics markets in the
        world.
    --  The industrial revolution in the US has created large data evolution
        capabilities to be used in the production processes and integration in
        supply chain management. The technology aids in enhancing the store
        operations further developing the industry, by which ESL will improve
        the performance efficiency of store operations.

Competitive Landscape

The electronic shelf label market is highly fragmented with many small retail chains and very few dominant retail brands. The retailers are adopting these solutions to make frequent changes in the prices of products allowing the retailers to add promotional offers to attract customers, which is creating a rivalry among the competition. Key players are E Ink Holding, LG Corporation, Altierre Corporation, etc.

Recent developments in the market are:

    --  May 2019 - E Ink the leading innovator of electronic ink technology
        displayed its latest innovations in color displays, writing films and
        new light transmissive films at SID Display Week 2019 from May 14-16,
        2019 in San Jose. It enables electronic shelf labels to respond to
        customer traffic patterns in an accurate manner.

Key Topics Covered

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers & Restraints
4.3 Market Drivers
4.3.1 NFC Penetration in POS & Smartphones
4.4 Market Restraints
4.4.1 High Initial Investments
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry

5 TECHNOLOGY SNAPSHOT

6 MARKET SEGMENTATION
6.1 By Product
6.1.1 LCD ESLs
6.1.2 E-Paper ESLs
6.2 By Component
6.2.1 Displays
6.2.2 Batteries
6.2.3 Transceivers
6.3 By Communication Technology
6.3.1 RF
6.3.2 IR
6.3.3 NFC
6.3.4 VLC
6.4 By Store Type
6.4.1 Hyper Markets
6.4.2 Super Markets
6.4.3 Non-food Retail Stores
6.4.4 Specialty Stores
6.5 Geography
6.5.1 North America
6.5.2 Europe
6.5.3 Asia-Pacific
6.5.4 Latin America
6.5.5 Middle East & Africa

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Altierre Corporation
7.1.2 Diebold Nixdorf
7.1.3 Display Data Ltd.
7.1.4 E Ink Holding Inc.
7.1.5 LG Corporation
7.1.6 M2 Communication Inc.
7.1.7 Pricer AB
7.1.8 Samsung Electro-Mechanics Co. Ltd.
7.1.9 SES-imagotag
7.1.10 Wincor Nixdorf AG
7.1.11 AdvanTech Inc.

8 INVESTMENT ANALYSIS

9 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/sc032n

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