The latest market research report by Technavio on the global electronic shelf label marketpredicts a CAGR of above 15% during the period 2018-2022.
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Technavio has published a new market research report on the global electronic shelf label market 2018-2022 under their ICT library. (Graphic: Business Wire)
The report segments the global electronic shelf label market by product (LCD ESLs, full graphic e-paper ESLs, and segmented e-paper ESLs), by technology (radio frequency, infrared, and visible light technology), by end-user (supermarkets and hypermarkets; convenience stores, department stores, and mass merchants; and drug stores, pharmacies, and others), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global electronic shelf label market, according to Technavio ICT researchers:
- Increase in number of retail outlets: a major market driver
- In 2017, the supermarkets and hypermarkets end-user segment dominated the market by occupying almost 55% share
- EMEA dominated the global electronic shelf label market with 58% share in 2017
- Altierre, Displaydata.com, E Ink Holdings, Pricer, SES-imagotag, and Teraoka Seiko are the leading players in the market.
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Increase in number of retail outlets: a major market driver
The rise in number of retail outlets across the world is one of the primary drivers for the global electronic shelf label market. Carrefour, Metro, Tesco, and Walmart are some of the major retailers, and they are expanding their presence in APAC and Africa to gain more market share. Through joint ventures, companies such as Carrefour is expanding its operations in eight countries in West and Central Africa including Congo, Cameroon, the Democratic Republic Of the Congo, Ivory Coast, Ghana, Gabon, Nigeria, and Senegal.
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EMEA: largest electronic shelf label market
Technavio researchers anticipate high growth for the global electronic shelf label market in EMEA due to the significant pace and high penetration of ESLs in supermarkets and the increase in labor costs. Demand from countries such as France, Germany, Poland, the UK, and Spain is driving the market. It is also expected that these countries will largely contribute towards the revenue of the global ESL market in the future.
According to a senior analyst at Technavio for research on IT hardware, "Innovations in product such as NFC labels have encouraged the replacement of the installed base which is attracting new customers. Such innovation is propelling the demand for ESLs in this region."
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