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Electronic shelf label (ESL) market is projected to grow at a CAGR of 23.98%

The ESL market is expected to be worth USD 392.3 million in 2017 and USD 1,424.8 million by 2023, at a CAGR of 23.98% between 2017 and 2023. The growth of the overall market can be attributed to driving factors such as increasing operational efficiency with real-time product positioning, more cost-efficient and less time-consuming alternative to paper labels, and trending retail automation. However, high expenses of installation and supporting infrastructure restrain the growth of the ESL market 

The ESL market for display components is likely to grow at the highest CAGR during the forecast period 
The highest CAGR of the market for displays is attributed to the inclusion of various liquid crystal displays (LCDs) and full-graphic e-paper displays. The rapid adoption of full graphics and LCD ESLs is also propelling the demand for the display components among the end users. 

Information on LCDs are clearly visible, and even in narrow shelves, ESLs with small LCD screens are being installed for better visibility of products. A full-graphic e-paper ESL displays the price, QR code, barcode, and other messages on a single screen. These advantages of displays are accelerating the adoption of ESLs in the market 

Full-graphic e-paper ESL held the largest share of the ESL market in 2016 
The largest market size and highest CAGR for full-graphic e-paper ESL are attributed to the growing demand for price automation from Tier I and Tier II retailers that rely on these ESLs to a large extent, as these ESLs support the graphic content and information. In addition, full graphical e-paper ESLs are a key to gain customer attention and make the in-store communication dynamic 

The ESL market in APAC is expected to grow at the highest CAGR during the forecast period 
The globalization and development of organized retail in APAC are likely to contribute to the highest CAGR of the market in APAC during the forecast period. Additionally, the readiness of retailers (i.e., ESL end users) in APAC to follow the ongoing trends of the retail market also leads to the growth of the ESL market in this region. 

Moreover, Japan is the major adopter of ESLs in APAC, thus contributing the growth of the overall market in APAC. In Australia, the labor costs are high, and the Australian retailers are spending a great deal of money on price management to maximize the promotional activities for various products. 

In the process of determining and verifying the market size for several segments and subsegments obtained through secondary research, extensive primary interviews have been conducted with officials from the key players. The break-up of the profile of primaries has been given below: 
• By Company Type: Tier 1 = 25 %, Tier 2 = 35%, and Tier 3 = 40% 
• By Designation: C-Level Executives = 35%, Directors = 25%, and Others = 40% 
• By Region: Europe = 43%, APAC = 29%, North America = 14%, and RoW = 14% 

The key players in the ESL market profiled in the report are as follows: 
1. Pricer (Sweden) 
2. SES-imagotag (France) 
3. Samsung Electro-Mechanics (South Korea) 
4. E Ink Holdings (Taiwan) 
5. Displaydata (UK) 
6. M2Communication (Taiwan) 
7. Diebold Nixdorf (Germany) 
8. Opticon Sensors Europe (Netherlands) 
9. Teraoka Seiko (Japan) 
10. NZ Electronic Shelf Labelling (New Zealand) 

Research Coverage: 
The report studies the ESL market segmented on the basis of component, product type, communication technology, and store type. It also includes the forecast of the market size, in terms of value, with respect to 4 main regions, namely, North America, Europe, APAC, and RoW. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and challenges for the market. It also profiles the key players operating in ESL market as well as describes the overall value chain of the market. 

Reasons to Buy the Report: 
1. The report would help the stakeholders to understand the pulse of the market and provides them the information on key market drivers, restraints, challenges, and opportunities. 
2. This report would help stakeholders to understand their competitors better and gain more insights to strengthen their position in the market. The competitive landscape section includes competitor ecosystem and the recent development strategies adopted by the key players in the market, which include product launches and developments, partnerships, and mergers and acquisitions.

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