The global LCD electronic shelf label market is expected to grow at a significant CAGR during the forecast period (2024-2031). The major factors propelling the growth of the global LCD electronic shelf label market include the rising automation in the retail industry. Furthermore, the need for a more cost-effective and time-saving alternative to paper labels will propel the growth of the market during the forecast period. Additionally, the growth of the market is attributed to the application of electronic shelf labels by increasing operational efficiency and allowing for real-time product placement.
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As the NFC (Near Field Communication) equipped smartphones are becoming more common, the usage of NFC in electronic shelf labels is increasing in the retail industry, as it is both energy-efficient and cost-effective. NFC is an embedded technology that leverages proximity to simplify transactions, data sharing, and short connections. NFC-enabled smart packaging and signs may give customers timely product information and even a real-time digital offer before purchase.
In the retail sector, NFC technology substantially enhances traditional LCD electronic shelf labels that display the price and make stock management easier by allowing price changes at any time. Customers’ interactions are simplified by a single touch on an NFC-enabled smartphone. Due to its fast speed and greater control over information, the majority of customers prefer NFC technology to other digital advances such as QR codes and Bluetooth beacons.
The key players contributing to the growth of the global LCD electronic shelf label market by adopting various strategies such as product launches & developments, mergers and acquisitions, partnerships, and agreements, include SES-imagotag, Pricer, E Ink Holdings, Displaydata, and M2Communicatio, among others. For instance, in January 2019, in retail’s Big Show NRF, at the Javits Center, Aliso Viejo, Calif.-based Newcom AWM Smart Shelf unveiled their newest generation of LED shelf-edge displays. The new model, which is on display at AWM Smart Shelf’s Innovation Lab booth (#7148), offers a 2.5x improvement in resolution over the previous model. With a decreased height of 1.5 inches that corresponds to that of a standard shelf, the new thin form factor maximizes the utilization of shelf space.
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Market Coverage
- Segment Covered-
o By Component
o By Display Size
o By Communication Technology
o By End-User
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- SES-imagotag, Pricer, E Ink Holdings, Displaydata, and M2Communicatio, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global LCD Electronic Shelf Label Market by Segments
By Component
- Displays
- Batteries
- Transceivers
- Microprocessors
- Others
By Display Size
- Less than 3 inches
- 3 to 7 inches
- 7 to 10 inches
- More than 10 inches
By Communication Technology
- Radio Frequency
- Infrared
- Near-field Communication
- Others
By End-User
- Retail (Hypermarkets, Supermarkets, Non-food retail stores, Specialty Stores, Others)
- Industrial
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