Electronic Shelf Label Market to Surge at 20.8% CAGR till 2027; Promising Advancements in Infrared Technology to Generate Exciting Opportunities in the Market

The global electronic shelf label (ESL) market size is projected to reach USD 2,857.6 million by 2027 on account of proliferation of retail stores across developing economies, states Fortune Business Insights™ in its report, titled “Electronic Shelf Label Market Size, Share & COVID-19 Impact Analysis, By Type (LCD based and E-paper based), By Technology (Vendor Facing Technology and Consumer Facing Technology), By End-use Industry (Hypermarket/ Supermarket, Non-food Retail Stores, Specialty Stores, and Others), and Regional Forecast, 2020-2027”. According to the report, the market value stood at USD 630.8 million in 2019 and is expected to exhibit an impressive CAGR of 20.8% from 2020 to 2027.

The COVID-19 pandemic is anticipated to hinder the electronic shelf label market growth in 2020 as ESL system manufacturers and developers have been forced to reduce production owing to social distancing restrictions. Stringent curtailment measures on travel and trade, lockdowns, and declining footfalls in stores are expected to further diminish the market prospects.

E Ink Expands E-Paper Offerings to Include Retail and Consumer Electronics

One of the prominent leaders in electronic ink technology, Taiwan-based E Ink Holdings announced in January 2020 the expansion of its ePaper product range, which will now also serve applications in the consumer electronics, retail, signage, and education domains. The company will be offering smaller displays using its patented Advanced Color ePaper (ACeP) technology, featuring a super saturated color palette. Enabling window, end-cap, and aisle promotions, the displays have been engineered to serve the needs of smart retail applications. Lastly, the high resolution displays clearly beam images, QR codes and barcodes, and text, facilitating attractive and detailed promotional information.

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https://www.fortunebusinessinsights.com/electronic-shelf-labels-market-102520

Growing Popularity of ESL Systems in Grocery Stores to Boost the Market

Electronic shelf label systems hold considerable economic advantages for grocery stores and supermarkets that can boost sales for these enterprises. For example, ESL solutions can save a grocery store a good amount of money as these digital systems eschew the need for paper price tags. More importantly, the store management can simply update their prices through a single connected system powered by technologies such as the Internet of Things (IoT) and artificial intelligence (AI). Another critical benefit of ESL is that stores can ensure that there is no discrepancy in the price quoted online and the price of a product in-store. Realizing the wide potential of ESL systems, supermarket chains are readily installing these systems. For example, in May 2020, Plus Retail, a Dutch supermarket chain, teamed up with Pricer AB to deploy Pricer’s ESL platform across stores in the country.

Key Players to Capitalize on the Digitization Trends in the Retail Industry

Physical retail stores, especially in North America and Europe, are rapidly digitizing their operations to increase efficiency, boost productivity, streamline processes, and reduce labor and maintenance costs. This has created a prolific demand for electronic shelf label systems as these systems, whilst achieving the aforementioned goals, can also optimize the in-store experience for customers, incentivizing physical purchasing in regular stores. In response, key players in this market are actively collaborating and investing in R&D to devise solutions that meet the evolving requirements of the retail industry.

Industry Development:

• January 2019: SES-imagotag entered into a partnership with Cisco to develop a next-gen IoT-powered infrastructure solution for physical commerce. The companies will combine SES’s VUSION Retail IoT Cloud Platform with Cisco’s expertise in network connectivity to collaboratively create a digitized ESL solution for retailers at low costs.

List of Key Players Covered in the Market Report:

• LG Innotek (South Korea)


• E Ink Holdings Inc. (Hsinchu, Taiwan)


• Altierre Corporation (San Francisco, United States)


• Zhejiang Hanshow Technology Co., Ltd (Jiaxing, China)


• SES-imagotag (France)


• NZ Electronic Shelf Labelling Ltd. (Kapiti, New Zealand)


• Cest Co., Ltd. (Daegu, South Korea)


• Teraoka Seiko Co., Ltd (Tokyo, Japan)


• Opticon Sensors Europe B.V. (Hoofddorp, Netherlands)


• Displaydata Limited (United Kingdom)


• Pricer AB (Sweden)


• Retail Solutions Pro DBA (Florida, United States)


• Solum ESL (Hesse, Germany)


• TroniTAG GmbH (Isselburg, Germany)


• Diebold Nixdorf, Inc. (Ohio, United States)


• M2COMM (Hsinchu, Taiwan)

Further Report Findings:

• The hypermarket/supermarket segment led the market in 2019 with a share of 47.1% as supermarkets and hypermarkets are actively adopting ESL solutions to make their inventory management more efficient and effective.


• Europe is expected to dominate the electronic shelf label market share during the forecast period owing to the strong presence of ESL manufacturers and innovators in the region. In 2019, the region’s market size stood at USD 304.0 million.

Table of Segmentation: