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Europe ESL Market Revenue to Reach $500 Mn Benchmark by 2026
Published Date: 2020-12-16
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According to the Graphical Research new growth forecast report titled “Europe ESL Market Size, By Product (LCD ESL, Segmented E-paper ESL, Full Graphic E-paper ESL), By Technology (RF, IR, NFC), By Application (Industrial, Commercial [Hypermarket, Supermarket, Non-food Retail])” Estimated To Be Over USD 500 million by 2026
The advanced technology landscape in Europe supporting the incorporation of latest technologies across the retail sector will propel the ESL market growth. Electronic shelf labels connected with POS systems enable the simultaneous update of prices at all terminals across a chain of stores. This enables large retailers to operate several stores efficiently through a centralized software. Renowned grocery groups in France including Carrefour and Casino are experimenting with retail automation solutions by keeping stores open even after employee work hours, boosting the ESL market growth.
The increasing adoption of digital payment techniques is propelling the demand for NFC-enabled ESLs that facilitate contactless payments through smartphones.
The ongoing coronavirus (COVID-19) pandemic had hampered the Europe ESL market in the first quarter of 2020 as industries and commercial buildings remained temporarily shut. Stringent lockdowns imposed by government authorities to combat the spread of the virus through social distancing impacted the retail sector adversely, in turn, declining the demand for ESLs. However, with the reopening of stores coupled with the resumption of industrial activities in the second half of 2020, the regional ESL industry will regain traction.
The expanding industrial sector in several European countries including Sweden, France, Germany, and Italy will boost demand for advanced ESLs. The penetration of IoT technology across the regional industrial sector will further boost the implementation of connected systems in facilities that enable the update of digital labels across several sections simultaneously using a centralized system. Manual labeling technique is time consuming and prone to errors. The presence of a large number of goods in a manufacturing facility or warehouse, stresses the need for efficient automated techniques that streamline operations and ensure on-time shipments. The developing industrial sector will boost the incorporation of ESL technology to maximize productivity.
High speed and radio immunity offered by IR-enabled ESLs will boost their demand during the forecast timeframe. As IR technology provides energy-savings and fast connectivity, IR-enabled ESLs will witness high demand. The energy-saving feature of the IR technology, enables retailers to save additional expenses, thus increasing their profitability. IR is used in ESL applications that require reliability, longevity, and advanced functionalities. Growing competition amongst retailers to adopt the latest technologies, maximize throughput, and offer enhanced customer services will propel the ESL market growth.
Key players operating in the Europe ESL market include Altierre Corporation, Displaydata Limited, M2COMM, Herbert Retail Limited, Pricer AB, Samsung Electronics Co., Ltd., Opticon Sensors Europe B.V., SES-imagotag, SoluM, and Diebold Nixdorf Incorporated. Strategic partnerships to launch innovative solutions form a key trend amongst market players. For instance, in October 2019, SES-imagotag partnered with Wirecard to develop an electronic shelf labelled mobile payment solution. The solution will link SES-imagotag’s IoT labels with Wirecard’s mobile payment platform.
The Europe ESL market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2016 to 2026 for the following segments:
Europe ESL Market, By Product
- LCD ESL
- Segmented E-paper ESL
- Full Graphic E-paper ESL
Europe ESL Market, By Technology
Europe ESL Market, By Application
- Non-food retail
The above information is provided on a country basis for the following: