Electronic Shelf Label Market - Regional Outlook, Competitive Analysis, Application and Forecasts To 2027

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Electronic Shelf Label Market by Growth Insight,
Competitive Analysis and Regional Statistics to
2027
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• With the rapid digital transformation in the
  retail sector, electronic shelf label (ESL) is
  rapidly emerging as an efficient tool that allows
  a more personalized experience. The commendable
  increase in consumer spending on the flourishing
  retail industry is one of the prominent factors
  augmenting the electronic shelf label
  installation.
• According to the U.S. Commerce Department, retail
  sales increased at a seasonally adjusted rate of
  1.7 in October 2021, up from over 0.8 in the
  previous month. Moreover, the favorable growth
  trajectory of the e-Commerce sales is slated to
  boost the adoption of digital technologies like
  electronic labels to provide informative,
  up-to-date data for customers. The electronic
  shelf label (ESL) market is expected to register
  remuneration of more than 2 billion by 2026,
  according to a Global Market Insights Inc.
  report.
• Over the years, retail technology solutions
  providers have been focusing on rapid product
  innovations to enhance the in-store retail
  experiences of customers.
• To provide retailers with cutting-edge solutions,
  various technology companies are introducing a
  new generation of labels. Such software has been
  designed to help brands and merchants maximize
  the visibility and impact of their marketing
  campaigns.

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• For instance, in April 2021, SES-imagotag and E
  Ink announced the co-development of an ESL
  product line, which featured 4-color e-paper
  displays with high pixel density and resolution.
  These labels were developed to allow brands to
  highlight their marketing campaigns in-store,
  revolutionizing the use of electronic shelf
  labels in the retail sector.
• As a replacement for the use of batteries in
  traditional ESLs, high-tech companies are
  launching convenient and cost-effective labels
  powered by inexhaustible power sources. The
  development of such energy-efficient design is a
  crucial step in the implementation of sustainable
  development strategies.
• Citing an instance, in November 2021, Saule
  Technologies launched the worlds 1st electronic
  shelf label technology based on perovskite
  photovoltaic cells. This PESL (perovskite
  electronic shelf label) has notably emerged as a
  breakthrough solution, considering its unique
  capabilities to communicate with retail stores
  customers. This can significantly lower product
  labeling time and enable real-time price
  verification.
• To enable retailers to remotely manage and
  monitor stock and ensure precise product
  positioning on store shelves, IoT solutions
  providers are leveraging integrated circuits to
  deliver wireless connectivity to digital shelf
  labels. The increased deployment of connected
  devices could therefore allow the electronic
  shelf label (ESL) market to grow considerably.

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• In November 2021, Shenzhen Minew Technologies
  Co., Ltd. selected the nRF52832 Bluetooth
  5.2/Bluetooth Low Energy multiprotocol SoC
  (System-on-Chip) and nRF52810 SoC of Nordic
  Semiconductor to offer wireless connectivity to
  the Electronic Shelf Label of Minewtag. Designed
  to replace the traditional price tags that must
  be manually updated, this ESL enables users to
  achieve benefits like improved price visibility,
  promotional capabilities, reduction in pricing
  errors, labor cost reduction, and enhanced
  customer experiences.
• In addition, the provider of digital store
  solutions has augmented its existing ESL
  solutions through AI-integrated capabilities to
  increase inventory management, consumer behavior
  analysis, and other digital functions attractive
  to brick-and-mortar retailers, brands, and
  customers.

• Competitive Analysis

• Major companies operating in the ESL market
  include Advantech Co. Ltd., Diebold Nixdorf,
  Samsung Electronics Co. Ltd., Pricer AB, NXP
  Semiconductors N.V., SES-Imagotag, E Ink Holdings
  Inc., DisplayData Limited, Herbert Ltd., LG
  Innotek, Opticon Sensors Europe B.V., SoluM Co.
  Ltd. and Hanshow Technology Co. Ltd.

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