Europe Electronic Shelf Label Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Components (Displays, Batteries, Transceivers, Microprocessors, and Others), Product Type (LCD ESL and E-Paper based ESL), Store Type (Hypermarkets, Supermarkets, Non-Food Retail Stores, Specialty Stores, and Others), and Communication Technology (Radio Frequency, Infrared, Near Field Communication, and Others)

The Europe electronic shelf label market is expected to grow from US$ 173.4 million in 2019 to US$ 526.5 million by 2027; it is estimated to grow at a CAGR of 15.3 % from 2020 to 2027.

Rising adoption of advanced technologies across the retail - value chain is accelerating the growth of the Europe electronic shelf label market. The success of the industry participants highly depends upon the relentless focus on the application of various technologies for enhancement of the value-added services to consumers. Advanced technologies plays a critical role in the transformation of retail. For instance, in Europe, Pricer provides ESL enabling with Bluetooth technology that help consumers have an access on product information. Over the next ten years, all of these technologies are expected to attain significant maturity in the retail industry, creating an unprecedented level of disruption. In particular, artificial intelligence (AI) is predicted to be the most transformational technology for the retail industry due to its widespread applications, ability to drive efficiencies, and impact on labor. With the rapid growth in the outlook of online shopping, retailers are looking forward to bring frictionless customer experience into online shopping for customers. The use of IoT in retail is growing at an exponential rate; therefore, both retailers and technology developers are looking forward to provide an environment of the connected consumer in brick-and-mortar locations. Therefore, the ESL developers across Europe are working closely to develop more technologies through robust R&D such as development of ePaper, battery free-solutions, and more, which would drive the Europe electronic shelf label market growth during the forecast period.

Countries in Europe are adversely affected due to the COVID-19 pandemic, especially the UK and Russia. As selected countries observed a rise in the number of reported cases and subsequently attracted strict and longer lockdown periods or social isolation, the effect of COVID-19 varies from country to country throughout the region. However, due to the strong healthcare system, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their development activities. The retail sector is hindered due to the outbreak. According to the association of retailers and landlords in the London's West End, the shopping across the region was down by 75% as compared to the last year. Europe’s consumer behavior has also shifted to online shopping from local retail shops (mom and pop stores) to avoid crowd. For instance, according to studies, 46% of consumers across Europe aim to shop more locally in the long term than they did before the pandemic. These factors are restraining the growth of the Europe electronic shelf label market.

Based on product type, the LCD ESL segment led the Europe electronic shelf label market in 2019. The LCD display ESL tags are similar to that of how the calculators display the numerical values. Each number on the LCD display is made up of seven bars and segments. The numerical value that is to be displayed on tags itself is shown on the basis of activating different combinations of these seven bars and segments. The segment-based LCD label provides a solution that is cost-efficient when a large number of labels are required for precise information to the shelf edge with the help of scrolling and flashing functions, in a wide range of layouts. Advantages of LCD ESL product such as cost effectiveness and different layout drive its demand, which bolsters the Europe electronic shelf label market.

The overall Europe electronic shelf label market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe electronic shelf label market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, electronic shelf label market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe electronic shelf label market. Diebold Nixdorf, Incorporated; Displaydata Limited; LabelNest; M2Communication; Opticon Sensors Europe B.V.; Pricer AB; Samsung Electro-Mechanics Co., Ltd.; SES-imagotag; and Teraoka Seiko Co., Ltd. are a few players operating in the market.