Electronic Shelf Label (ESL) Market to 2026 - Regional Trends Insights and Future Growth Estimations
As of now, the electronic shelf label (ESL) market is still in its developmental stage across numerous commercial stores and small-scale industries, as they are refraining from implementing these devices because of budgetary constraints. But as economic conditions improve and more people gain awareness about the benefits of the latest technologies, the ESL market could witness healthy growth over the coming years.
The electronic shelf label (ESL) market could hit USD 2 billion by 2026.
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The electronic shelf label (ESL) market is projected to gather noteworthy gains owing to its ability to offer improved operational efficiencies. These devices are mainly used in the retail sector that is increasingly edging towards automation.
With rapid retail automation, electronic shelf label (ESL) market could observe heavy demand in the forthcoming years. In addition, these labels help in expanding customer base with innovative marketing campaigns and displaying attractive pricing, further increasing customer engagement across retail outlets. ESLs can potentially improve the overall operational flow in supermarkets, hypermarkets and industries by offering centralized control of the entire system.
Based on applications, the electronic shelf label (ESL) market is divided into commercial and industrial sectors. Out of these, the commercial sector is estimated to see healthy growth over the predicted timeframe. Several supermarkets nowadays are concentrating on digitizing their entire infrastructure by integrating the benefits of traditional brick & mortar stores with online shopping.
In terms of product, the electronic shelf label (ESL) market is bifurcated into full graphic e-paper ESL, LCD ESL, and e-paper ESL. Among these, the e-paper ESL market segment is expected to attain a prominent market share over the predicted timeframe on account of its energy efficiency features.
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Taking October 2019 for instance, Hanshow Technology and Auchan Retail extended their strategic relationship to develop advanced connected labeling systems to implement the solution across five million items present in seven nations. Factors like enhanced omnichannel experience and accurate pricing could play a key role in stimulating the demand for ESLs in commercial facilities.
Middle East & Africa is a promising avenue for the electronic shelf label (ESL) market, even though it is still in the nascent stage. The region has a rich presence of rapidly developing retail sector especially in Saudi Arabia and the UAE. Proliferating population base coupled with supportive federal initiatives to promote the growth of retail sector could massively enhance the growth prospects of the ESL market in MEA.
Generally, the product’s low-power consumption results in improved profitability, hence strengthening e-paper ESL demand. Firms like E Ink Corporation provide segmented displays that are rugged and thin, making them ideal for routine use. Meanwhile, ADKOM Elektronik GmbH delivers segment e-papers as customized services. Reflective technology, which is usually used in these, make ESLs readable.
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Rahul Varpe
Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid...