The Asia Pacific (APAC) electronic shelf label market is anticipated to reach US$1.19 billion in 2029 from US$666.120 million in 2024 at a CAGR of 12.40%.
The electronic shelf label is a battery-powered e-paper display used by retail stores such as supermarkets, mini and hypermarkets. Such displays contain information about a product’s price, quality, ingredients composition, and quantity, which is necessary from a consumer’s perspective. Major regional economies, namely China, India, South Korea, and Japan, are witnessing a positive uprise in their consumer goods consumption. With rapid urbanization followed by improvement in disposable income, the consumer goods demand is further expected to escalate, thereby providing new growth prospects for electronic shelf displays. Likewise, investment in retail chain expansion, innovations in display technology, and a growing emphasis on retail automation are additional driving factors.Asia Pacific (APAC) Electronic Shelf Label Market Drivers
Favorable retail outlet establishment is expected to bolster the market expansion.
Electronic shelf labels are based on a modern approach that is cost-effective and streamlines the picking, collection, and sorting operation which prevents any misguided product sales, optimizes the product availability at all times, and further replenishes shelf replenishment. Such high-performance features improve the customer’s overall shopping experience. With the growing demand, establishing retail outlets in major Asia Pacific economies is expected to drive the market demand & usage of electronic shelf labels.For instance, in October 2022, Swire Properties formed a partnership with CDF Investment & Development Co. Ltd to develop a duty-free retail outlet in Hainan province, which will mark CDF’s eighth commercial development in the Chinese Mainland. The whole project implementation involved investments of RMB1.308 billion and would be completed in phases in 2024. Likewise, major retail companies such as Alibaba, Amazon, Reliance, and Tata retail stores are investing in domestic and overseas expansion, which is anticipated to drive the regional market expansion.
Asia Pacific (APAC) Electronic Shelf Label Market Segment Analysis
Full graphic labels are poised for a constant expansion.
Based on product type, the Asia Pacific (APAC) electronic shelf label market is analyzed into segmented labels, full-graphic labels, and LCD labels. The full-graphic labels are expected to account for a considerable market share. They will show steady growth, fuelled by their long life and ability to promote two-way communication, which optimizes overall performance. The batteries of such label displays are also replaceable, which further avoids the risk of misrepresentation.The growing digitization and investment in OLED and LCD screens have provided new growth opportunities for full-graphic labels, which is anticipated to propel the overall segment growth.
Supermarkets will hold a considerable portion of the market.
The Asia Pacific (APAC) electronic shelf label market, by store type, is divided into supermarkets, hypermarkets, minimarkets, and others. The supermarket is expected to account for a significant market portion fuelled by the improvement in disposable income followed by the growing demand for infrastructure where all consumer goods are available under one roof. Major APAC countries, namely China, India, and South Korea are witnessing positive growth in such segments. In contrast, other nations, namely Malaysia, Indonesia, and Vietnam, are initiating investments to bolster their retail outlets.India is anticipated to grow at a constant rate.
Country-wise, the Asia Pacific (APAC) electronic shelf labels market is divided into India, China, Japan, South Korea, Taiwan, Thailand, Indonesia, and others. India is poised for steady growth and will account for a considerable portion of the regional market as the economy harbors the second-largest consumer base globally. Over the years, the demand for food & beverage and other consumer products has witnessed an upward trajectory in the country.Hence, major retailers, namely Reliance, V-mart retail, Decathlon, and Future Group, among others, have a well-established base in the country covering major metro cities. Likewise, various strategic collaborations between international departmental stores and domestic retailers have further led to new store establishments. For instance, in November 2022, Galeries Lafayette formed a partnership with Aditya Birla Fashion and Retail Limited, which involved the opening of the former’s flagship stores across Mumbai and Delhi. These stores provide more than 200 international as well as local brands that address millennials’ luxury demands.
Asia Pacific (APAC) Electronic Shelf Label Company Products:
- Hang TAG - Pricer Ab’s “Hang TAG” are tailored labels that, compared to dual-arm peg hooks, save up to 16% of sales space. The label's display has exceptional battery life and is also replaceable.
The Asia Pacific (APAC) Electronic Shelf Label Segmentation:
By Product Type
- Segmented Labels
- Full-Graphic Labels
- LCD Labels
By Communication Technology
- Radio Frequency (RF)
- Near-Field Communication (NFC)
- Infrared (IR)
- Others
By Store Type
- Supermarkets
- Hypermarkets
- Minimarkets
- Others
By Country
- India
- China
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
Table of Contents
Companies Mentioned
- Pricer AB
- Diebold Nixdorf, Incorporated
- Displaydata Limited
- RGIS LLC
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 92 |
Published | July 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 0.67 Billion |
Forecasted Market Value ( USD | $ 1.19 Billion |
Compound Annual Growth Rate | 12.4% |
Regions Covered | Asia Pacific |
No. of Companies Mentioned | 4 |