Electronic Shelf Label Market Research Report

Market Overview:

The global electronic shelf label market size reached US$ 876 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,354 Million by 2028, exhibiting a growth rate (CAGR) of 18% during 2023-2028. The growing awareness about the advantages associated with ESL systems, the rising adoption of the Internet of Things (IoT) solutions, and the launch of technologically advanced product variants represent some of the key factors driving the market.

Electronic shelf label (ESL) systems are devices used to display specific product information and price on the shelves. They help retailers interact with customers and electronically update the product information, ensuring accurate product pricing and establishing a direct connection between the store checkout system and product shelves. Compared to the traditional shelf label system that requires printing paper tags and changing them manually, ESL systems are more convenient, faster, and involve less hassle. They also offer durability, prolonged shelf life, and replaceable batteries and can be updated from time to time easily. They assist in improving the accuracy and smooth functioning of retail businesses by eliminating pricing errors. They are widely available in numerous sizes, colors, fonts, templates, and fastening solutions to meet the requirements of end users. As a result, ESL systems are extensively deployed by retail stores of all sizes, including supermarkets, hypermarkets, specialty stores, and department stores.

Electronic Shelf Label (ESL) Market Trends:

At present, the retail industry is witnessing a technological revolution in both developed and developing nations across the globe. Brick-and-mortar stores are becoming digitalized to distinguish themselves from online retail platforms, resulting in the widespread adoption of Internet of Things (IoT) solutions in the retail sector. This, coupled with the rising utilization of retail automation solutions, such as smart shelves and ESL systems, in stores to automate inventory management and optimize the overall workflow, represents the primary factor driving the market growth. Additionally, the growing awareness about the advantages associated with ESL systems, such as improved consumer satisfaction, automatic price updates, reduced operational and labor costs, and efficient store management, is fueling their demand further. Besides this, the large-scale integration of full graphic e-papers with ESL systems is positively influencing the development of in-store communication solutions. Furthermore, the leading players are incorporating novel technologies, including Wi-Fi, Near Field Communication (NFC), radio frequency (RF), and Bluetooth Low Energy (BLE), with ESL systems to enhance their overall functioning. In line with this, the introduction of advanced ESLs embedded with LED light indicators that provide low power consumption, high brightness, and better resolution is contributing to the market growth. Other factors, including the rapid expansion in the retail industry, increasing focus on improving customer service, elevating levels of digitization across numerous sectors, and continual technological advancements, are also anticipated to provide a positive thrust to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global electronic shelf label market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type, component, technology and application.

Type Insights:

• Liquid Crystal Display (LCD)
• Full Graphic E-Paper
• Segmented E-Paper
• Others
   

The report has provided a detailed breakup and analysis of the electronic shelf label (ESL) market based on the type. This includes liquid crystal display (LCD), full graphic e-paper, segmented e-paper, and others. According to the report, LCD represented the largest segment.

Component Insights:

• Hardware 
• Software
   

A detailed breakup and analysis of the electronic shelf label (ESL) market based on the component has also been provided in the report. This includes hardware and software. According to the report, hardware accounted for the largest market share.

Technology Insights:

• Radiofrequency
• Infrared
• NFC
• Others
   

A detailed breakup and analysis of the electronic shelf label (ESL) market based on the technology has also been provided in the report. This includes radiofrequency, infrared, near-field communication (NFC) and others. According to the report, radiofrequency accounted for the largest market share.

Application Insights:

• Supermarkets and Hypermarkets
• Convenience Stores
• Others
   

The report has provided a detailed breakup and analysis of the electronic shelf label (ESL) market based on the application. This includes supermarkets and hypermarkets, convenience stores and others. According to the report, supermarkets and hypermarkets represented the largest segment.

Regional Insights:

• Europe
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. According to the report, Europe was the largest market for electronic shelf label (ESL). Some of the factors driving the Europe electronic shelf label (ESL) market included the presence of a large number of retail establishments, rapid industrial revolution in the region, increasing adoption of automated solutions across several industry verticals, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global electronic shelf label (ESL) market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Altierre SAS, Diebold Nixdorf, Incorporated, DIGI System Gurgaon Pvt. Ltd., Displaydata Ltd., LG CNS, M2C Communication doo Belgrade, Panasonic Corporation, Pricer AB, Samsung Electronics, SES Imagotag, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global electronic shelf label (ESL) market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global electronic shelf label (ESL) market?
• What is the impact of each driver, restraint, and opportunity on the global electronic shelf label (ESL) market?
• What are the key regional markets?
• Which countries represent the most attractive electronic shelf label (ESL) market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the electronic shelf label (ESL) market?
• What is the breakup of the market based on the component?
• Which is the most attractive component in the electronic shelf label (ESL) market?
• What is the breakup of the market based on technology?
• Which is the most attractive technology in the electronic shelf label (ESL) market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the electronic shelf label (ESL) market?
• What is the competitive structure of the global electronic shelf label (ESL) market?
• Who are the key players/companies in the global electronic shelf label (ESL) market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the electronic shelf label (ESL) market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global electronic shelf label (ESL) market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the electronic shelf label (ESL) industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.