Increasing proliferation of Internet of Things (IoT) coupled with growing digitization in the retail sector continue to influence the growth of the electronic shelf label market. Persistent growth in the retail sector has resulted in a meteoric expansion of retail outlets, particularly supermarkets and hypermarkets across key developed and emerging economies worldwide.
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Fact.MR foresees that the demand for electronic shelf label is projected to expand at a stellar pace with a period of forecast, 2018-2026. Sales of electronic shelf label are estimated to cross US$ 1,700 Mn by end of 2026 on the back of surging growth in the retail sector worldwide, says the report.CAGR of 21.5% in terms of value throughout the
There is a direct correlation between several macroeconomic factors, most notably increasing urbanization, growth in GDP per capita and economic growth, and overall sales of goods and commodities, which is likely to fuel the demand for electronic shelf label. Moreover, expanding retail infrastructure is likely to offer potential growth avenues for manufacturers of electronic shelf label in the forthcoming years.
Sales of electronic shelf label using the ZigBee technology are estimated to increase at high rate, largely contributing to the overall sales of these devices across retail stores. According to the Fact.MR report, sales of electronic shelf label with ZigBee technology in 2017 were around US$ 150 Mn and are likely to expand to cross a billion dollar milestone by end of the forecast period.
Increasing use of ZigBee technology for low cost and low power wireless networks coupled with higher convenience quotient associated with network distribution and monitoring have further pushed the adoption of the technology in electronic shelf labels. Likewise, Wi-Fi technology adoption in electronic shelf label is also projected to expand at a high rate during the period of forecast, however, high cost associated with Wi-Fi technology is likely to confine its use in the forthcoming years.
Demand for E-Ink electronic shelf labels is expected to witness an impetus on the back of low power consumption and paper-like readability. Sale of E-Ink based electronic shelf label (ESL) is expected to cross US$ 1,400 Mn by end of 2026 owing to their benefits including wide viewing angles, superior optical performance and multi-color options. On the contrary, LCD displays are also gaining steam with fast-paced evolution of display technology coupled with cheaper, smarter and more efficient micro-displays. Cost effectiveness of LCD displays is expected to auger well for their sales during the period of assessment.
Supermarkets and hypermarkets are expected to remain lucrative revenue pockets for manufacturers for electronic shelf label, according to the report. Sales of electronic shelf label in supermarkets and hypermarkets are expected to grow at a meteoric pace throughout the period of assessment, on the back of increasing number of these retail outlets worldwide. Convenience stores are also expected to pave potential growth pathways for electronic shelf label manufactures in the coming years, significantly contributing to the overall growth of the electronic shelf label market.
Market Segmentation
The research report on electronic shelf label market covers a detailed segmentation covering every facet of the electronic shelf label market providing a holistic view for the reader.
The report on electronic shelf label market includes analysis on every segments of the market that have an impact on the overall growth.
The electronic shelf label market is segmented on the basis of product type, by technology, by application and region.
Analysis on various products such as LCDs, E-Ink and others has been complied in the report.
The application areas of electronic shelf label such as supermarkets and hypermarkets, convenience stores, department stores, specialty stores and pharmacies have also been highlighted.
Assessment on various technologies such as ZigBee, BLE, Wi-Fi and others is included in the study. On the basis of region, the market is categorized into North America, Europe, China, Japan and Rest of the World (ROW).
Key companies :-
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