Europe Electronic Shelf Label Market

The Europe electronic shelf label market is expected to grow from US$ 634.85 million in 2022 to US$ 2,469.72 million by 2030. It is estimated to record a CAGR of 18.5% from 2022 to 2030.

Integration of Industry 4.0 for Automation and Smart Management Drives Europe Electronic Shelf Label Market

To increase mature technology for smart retailing applications, price labeling and merchandise management in retail stores can depend on ESLs to have real-time updates. In comparison to traditional paper tags, ESLs have reduced the occurrence of pricing errors while supporting stores to get a fast response mechanism for price changes. ESLs can be accessed wirelessly and remotely to achieve access to the massive quantity of data to ensure inventory management. Also, these are configured to send automatic notices when specific products are reaching near their expiration dates. Therefore, as a primary solution for information display and product pricing, ESLs are perfectly aligned with Industry 4.0 for automation and smart management. IoT applications in ESLs are facilitating a user in carrying out real-time updates. Industry 4.0 would assist the retail sector in having predictive analytics and real-time information, which will raise the steps of planning and allocation to the next level. As customer expectations are dynamic, the retail industry is looking forward to using Industry 4.0 to embrace growing business models, digitization, and value chains, which will further fuel the adoption of ESL solutions and propel market growth.

Europe Electronic Shelf Label Market Overview

Strong economic and manufacturing capabilities characterize Europe. France, Germany, Italy, Russia, the UK, and the rest of the European countries are the major contributors to the electronic shelf label market in Europe. The European region comprises several major industries such as machinery & equipment, retail, pulp & paper, automotive, pharmaceuticals, and others. In the European market, digitization is making its significance in grocery stores. Some of the largest retail companies present in European territory are Ahold Delhaize, REWE Combine, Tesco PLC, IKEA Group, Inditex, LVMH Moët Hennessy-Louis Vuitton S.A., Carrefour, and Auchan Holding SA, among others. The group mentioned above of retail companies consists of supermarkets, hypermarkets, and specialty stores. Also, mentioned retail stores are among the top 25 retailers of the region; therefore, the installation of advanced IoT technologies would be gaining high momentum. Moreover, small retail traders such as mom-and-pop stores and corner shops endure being optimistic entrepreneurs in the region. Several new shops and retail stores are emerging in the region owing to the rising purchasing capacity of the masses. The retail market of Europe is not homogenous, and therefore, several countries of the region are at a different phase of retail development. Germany, France, and the UK are the mature markets of retail, whereas Russia and Turkey are still considered to be in the developing phase. Over half of the European retail is dominated by Germany, UK, and France. Besides, the emerging phase of retail in the Czech Republic, Russia, and Poland has witnessed the entrance of different new retailers over the last few years and, therefore, would continue to grow their retail industry. Also, various companies are taking new initiatives to increase the demand for electronic shelf label. For instance, in July 2023, Ikea teamed up with SES-imagotag to introduce its innovative VUSION smart electronic shelf labels and IoT Cloud platform across its European stores. Hence, the demand for electronic shelf labels is increasing with the growing retail industry.

Europe Electronic Shelf Label Market Revenue and Forecast to 2030 (US$ Million)

Europe Electronic Shelf Label Market Segmentation

The Europe electronic shelf label market is segmented into component, product type, store type, technology, and country.

Based on component, the Europe electronic shelf label market is bifurcated into hardware and software & services. The hardware segment held a larger share of the Europe electronic shelf label market in 2022. The hardware segment is further subsegmented into displays, batteries, transceivers, microprocessors, and others.

In terms of product type, the Europe electronic shelf label market is bifurcated into E-paper based ESL and LCD ESL. The E-paper segment held a larger share of the Europe electronic shelf label market in 2022.

Based on store type, the Europe electronic shelf label market is segmented into hypermarkets, supermarkets, specialty stores, non-food retail stores, and others. The hypermarkets segment held the largest share of the Europe electronic shelf label market in 2022.

In terms of communication technology, the Europe electronic shelf label market is segmented into radio frequency, near field communication, infrared, and others. The radio frequency segment held the largest share of the Europe electronic shelf label market in 2022.

By country, the Europe electronic shelf label market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Germany dominated the Europe electronic shelf label market in 2022.

LabelNest; Displaydata Ltd; Panasonic Holdings Corp; M2C Communication DOO; Hanshow Technology; Opticon Sensors Europe BV; Ses Imagotag SA; Samsung Electro-Mechanics Co Ltd; Diebold Nixdorf, Incorporated; and Pricer AB are some of the leading companies operating in the Europe electronic shelf label market.