The research report on the Europe electronic shelf label market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The study includes insights on market segmentation by displays (LCD(TN LCD, TFT), EPD, and OLED), technology (vendor facing (RF and IR) and customer-facing (BLE, NFC, and others), end-users (supermarkets and hypermarkets, departmental stores, convenience stores, drugstores, and others), and geography (Germany, France, UK, Italy, Spain, Austria, Belgium, Norway, Denmark, Sweden, Finland, Netherlands, and Russia.
Europe ESL Market: Dynamics
The introduction of VMI and RFID is improving the customer’s experience and retail performances
The retail landscape is changing rapidly with the arrival of modern technology. The introduction of vendor managed inventory (VMI), and radio-frequency identification (RFID) is improving the customer’s experience and retail performances. RFID tags are used at the retail point of sale (POS)counters for auto check-outs without any manual intervention. Hence, the trend of end-to-end retail automation is expected to change the whole nature of the customer’s interactivity in retail stores.
The introduction of dynamic pricing in-store through electronic shelf label (ESL) has led retailers to provide a holistic experience to consumers, thereby driving the demand for Europe ESL market.
Also, the use of the guided selling model on the consumer’s behavior is likely to fuel the use of ESLs during the forecast period. The digital footprint can be utilized to micro-target customers by personalized content delivery and influencing its decisions. Thus, increasing competition and dynamic consumer preferences are driving retailers to evaluate and leverage ESL technology readily. Also, the dynamic retail environment and the increasing demand for goods are motivating retail stores to adopt the latest technology for a seamless buying experience.
Further, the implementation of sustainability practices, the rise of the predictive data analytics and competitor intelligence, and the emergence and prominence of omnichannel and retail reality are the major factors for the growth of Europe ESL market. The Europe ESL market is expected to grow at an impressive CAGR of around 25%during 2018–2024.
Europe ESL Market: Segmentation
This market research report includes a detailed segmentation of the market by displays, technology, end-user, and geography.
Europe ESL Market: Display Type
The adoption of EPD displays is growing due to their low power consumption, high visibility, and the paper-like display
As the adoption of EPD has gained prominence, it is expected to grow faster than other major display technology in the Europe ESL market during the forecast period. The low power consumption, high visibility, and the paper-like display are the factors that are driving the growth of the EPD displays market among ESL manufacturers. SmartTag HD labels and SES-Imagotag G1 Retail Tags are examples of the EPD-based ESL Tags.
LCD is one of the oldest display technologies used in the ESL market. However, technology is witnessing a decline due to the rise of EPD and OLED adoption. The installation of OLED is expected to rise in premium and luxury brand outlets. The sale of OLED is likely to witness the demand from duty-free stores at airports and luxury mono-brand outlets. Besides, OLEDs are thinner and more energy-efficient than LCD, which is increasing their adoption among consumers.
Europe ESL Market: Technology
The RF segment is expected to grow at a CAGR of over 34% in the Europe ESL market by technology
The customer-facing ESL segment is growing. As the retail market is witnessing an increase in the labor cost, retailers are switching to centralized labeling systems, which are boosting the electronic shelf label market globally. Bluetooth Smart or Bluetooth Low Energy (BLE) has grown in popularity in the last few years. BLE devices are designed to consume less power with low-data throughput, which increases battery life and improve operational efficiency.
Europe ESL Market: End-users
Hypermarkets and supermarkets and convenience stores are the major end-users of ESL
The adoption of ESLs is currently driven by hypermarkets, supermarkets, and convenience stores. These stores are looking for better technology to leverage evolving consumer preferences and tackle the growing threat from the e-commerce sector. The high average SKUs and the wide distribution of stores make the introduction of ESLs favorable. These stores help to achieve ROIs in a shorter span than other formats, thereby contributing significantly in the growth of the Europe electronic shelf label market. Carrefour, SPAR, Kaufland, E.Leclerc, Intermarché, and Metro have adopted ESLs with a focus on the European market and Tesco in the UK market.
The ability of ESLs to provide detailed information about the product is fostering their demand in departmental stores. Further, the adoption of ESLs in convenience stores is high due to their distributed nature and the need for centralized control centers. Also, a majority of convenience stores operate with a minimal workforce. Hence they must automate their operations. Germany, France, Italy, Denmark, and the UK are the ideal destinations to adopt ESLs as these countries have high wage costs.
Improving the effectiveness of end of season promotions and facilitating the visibility of a large volume of statutory content related to products are driving adoption of labels in drugstores and pharmacies.
Europe ESL Market: Geography
Denmark, Finland, Belgium, Norway, and Sweden are expected to display exceptional growth in the Europe electronic shelf label market by 2024
France is the leading country in the Europe electronic shelf label market. Retail chains are adopting ESLs to enhance efficiency and operational performance. Russia is likely to witness the highest absolute growth of 976% in terms of volume by 2024. Government-sponsored funding and the emphasis on the adoption of electronic shelf labels are boosting the Europe ESL market.
In addition, due to the intense market competition among players, vendors are increasingly relying upon technological infrastructure to gain competitive advantage in the Europe ESL market. The adoption can effectively provide an edge due to the centralization of procurement and pricing processes, thereby increasing competitiveness among retailers. Further, countries such as Denmark, Finland, Belgium, Norway, and Sweden are expected to display exceptional growth in the Europe ESL market during the forecast period. However, countries such as Germany, France, Italy, and the UK are also witnessing the increased ESL demand.
Key Vendor Analysis
In the Europe electronic shelf label market, vendors are competing in terms of price, replacement, and integrated services, portfolio depth, and brand reach. Although the market has a presence of diversified global and regional vendors, global players are likely to increase their footprint in the market. Regional vendors are expected to find it increasingly difficult to compete with a global player, especially in terms of technology, dynamic product offerings, and enhancing their customer base. The market competition is expected to intensify further during the forecast period with an increase in product/service extensions, technological innovations, and mergers and acquisitions. Europe ESL market has been witnessing several joint ventures and acquisitions by leading players such as Pricer, SES-Imagotag, Displaydata, DIGI, and Altiere Corp. in order to gain presence in new regions and extend their portfolio.
Key Vendors of Europe ESL market
Other prominent players in the Europe ESL market are E-Ink Holdings Inc, Samsung Electro-Mechanics (SEMCO), Mirador Marketing, CEST Ltd, LG Innotek, NZ Electronic Shelf Label, OpticonInc, Hanshow Technology, Pervasive Displays Inc., (PDI), Wincor Nixdorf, Dana Industries, ifLabel, UBIIK, Huawei, Omni ID, MpicoSys, TroniTAG and LG Innotek, Wuxi Vision Peak Technology Co Ltd., and Sunpai Industries Limited.
Key Market Insights
The report provides the following insights into the Europe electronic shelf label market for the forecast period 2019–2024.
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