The global electronic shelf label market size is poised to grow by USD 337.95 million during 2020-2024, progressing at a CAGR of almost 15% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Electronic Shelf Label Market 2020-2024 (Graphic: Business Wire).
The implementation of in-store technologies will be a significant factor in driving the growth of the electronic shelf labels market. Physical stores allow customers to try out products before purchasing. These stores also offer huge discounts to attract customers and compete with online stores. To enhance the customer experience and improve inventory management, several physical retail stores are adopting in-store technologies, such as smart shelves, ESLs, AR/VR, and in-store assistants. For instance, Koninklijke Ahold Delhaize is planning to install ESLs in its stores in the Czech Republic, Belgium, Luxemburg, Serbia, Greece, and Romania. This rising adoption of in-store technologies is expected to fuel the growth of the ESL market during the forecast period.
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Report Highlights:
- The major electronic shelf label market growth came from LCD ESLs segment. The incorporation of advanced technologies such as radio frequency, Wi-Fi, Bluetooth Low Energy (BLE), and NFC and the increasing demand for LCD ESLs from retailers are expected to boost the growth of the electronic shelf label market in this segment.
- Europe is one of the largest markets for electronic shelf labels, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the high concentration of major retailers and the integration of in-store technologies such as ESLs, self-service checkouts, and smart shelves are contributing to electronic shelf label market growth in this region.
- The global electronic shelf label market is fragmented. Altierre Corp., Diebold Nixdorf, Inc., Displaydata Ltd., E Ink Holdings Inc., LG Innotek, Opticon Sensors Europe BV, Pricer AB, Samsung Electro-Mechanics Co. Ltd., SES-imagotag, and Teraoka Seiko Co. Ltd. are some of the major market participants. To help clients improve their market position, this electronic shelf label market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global electronic shelf label market 2020-2024 is expected to have Neutral and At par. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/electronic-shelf-label-market-industry-analysis
Increasing Adoption of Smart Shelves will be a Key Market Trend
The increasing adoption of smart shelves is one of the critical electronic shelf label market trends contributing to market growth. The rising urbanization and increasing disposable income have resulted in increased investments in organized retail stores. These smart shelves are integrated with various components and technologies, including ESLs, 3D cameras, proximity sensors, weight sensors, LED sensors, NFC, and RFID. Such factors are expected to fuel electronic shelf label market growth.
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Electronic Shelf Label Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist electronic shelf label market growth during the next five years
- Estimation of the electronic shelf label market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the electronic shelf label market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of electronic shelf label market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value Chain Analysis
PART 04: MARKET SIZING
- Market definition
- Market Size
- Market Outlook
- Market sizing 2019
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY END-USER
- Market segmentation by end-user
- Comparison by end-user
- Supermarkets and hypermarkets – Market size and forecast 2019-2024
- Convenience stores, department stores, and mass merchants – Market size and forecast 2019-2024
- Drug stores, pharmacies, and others – Market size and forecast 2019-2024
- Market opportunity by end-user
PART 07: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- LCD ESL – Market size and forecast 2019-2024
- Full graphic e-paper ESL – Market size and forecast 2019-2024
- Segmented e-paper ESL – Market size and forecast 2019-2024
- Market opportunity by product
PART 08: CUSTOMER LANDSCAPE
PART 09: MARKET SEGMENTATION BY TECHNOLOGY
- Market segmentation by technology
- Comparison by technology
- Radio frequency – Market size and forecast 2019-2024
- Infrared – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by technology
PART 10: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 13: MARKET TRENDS
- Rising number of strategic partnerships and alliances
- Increasing adoption of smart shelves
- Introduction of advanced ESL solutions
PART 14: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 15: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Altierre Corp.
- Diebold Nixdorf, Inc.
- Displaydata Ltd.
- E Ink Holdings Inc.
- LG Innotek
- Opticon Sensors Europe BV
- Pricer AB
- Samsung Electro-Mechanics Co. Ltd.
- SES-imagotag
- Teraoka Seiko Co. Ltd.
PART 16: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 17: EXPLORE TECHNAVIO
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201005005564/en/