Global electronic shelf label market size and share is currently valued at USD 1,726.63 million in 2023 and is anticipated to generate an estimated revenue of USD 5,444.35 million by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 13.6% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023 – 2032
Market Overview:
The Electronic Shelf Label (ESL) market is transforming the retail landscape by enabling dynamic pricing and efficient inventory management. ESL systems replace traditional paper price tags with digital displays, allowing retailers to update prices and product information in real-time. These labels are connected to a central server, providing accurate and consistent pricing across shelves and online platforms.
ESL solutions are increasingly being adopted by supermarkets, hypermarkets, convenience stores, and specialty stores to enhance operational efficiency and improve the shopping experience. Beyond retail, industries like healthcare, logistics, and manufacturing are exploring ESL technology for streamlined inventory management.
Market’s Growth Drivers:
Several factors are propelling the growth of the ESL market:
- Rising Demand for Real-Time Pricing Updates
With dynamic pricing strategies becoming a norm, ESL systems allow retailers to respond quickly to market changes, promotional campaigns, and competitor pricing, enhancing revenue and competitiveness. - Growth of Omnichannel Retailing
The integration of physical stores with online platforms is driving the adoption of ESL systems. These labels ensure consistency in pricing and product information across all sales channels, improving customer satisfaction. - Increasing Focus on Operational Efficiency
Retailers are prioritizing solutions that optimize labor and operational costs. ESL systems reduce manual labor by automating price updates, enabling staff to focus on customer service and other critical tasks. - Advancements in Wireless Communication Technologies
Innovations in wireless technologies, such as Bluetooth Low Energy (BLE) and Near-Field Communication (NFC), have enhanced the functionality and reliability of ESL systems, making them more appealing to retailers.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
Some of the major players operating in the global market include:
- Dahua Technology Co., Ltd.
- Displaydata Ltd.
- E Link Holding Inc.
- Hanshow Technology
- M2COMM
- Minew
- Opticon
- Pricer
- RAINUS
- SES-imagotag
- Shanghai Sunmi Technology Co., Ltd.
- Teraoka Seiko Co., Ltd.
Recent Developments:
- April 2023: Hanshow introduced the Nebular Pro series, a four-color ESL line, during its “Revitalization and Excellence” product launch in China. This innovative series brings vibrant and dynamic digital retail experiences, setting a new benchmark for ESL technology.
- November 2023: RAINUS announced a partnership with Toshiba Global Commerce Solutions to integrate ESL technology into store solutions. This collaboration aims to streamline dynamic pricing, improve operational efficiency, and address labor challenges faced by the retail industry.
- July 2023: ASDA partnered with Avery Berkel and Hanshow to debut the UK’s first sustainability trial store. This initiative incorporates cutting-edge ESL technology and digital retail solutions to enhance the shopping experience while promoting refillable and eco-friendly practices.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The Electronic Shelf Label Market segmentation divides the market into several segments. The industry segmentation is primarily based on product type, application, end-use, and geographic factors. Besides, the research study covers several sub-segments of the market. An in-depth examination of each market segment and sub-segment has been provided, covering the industry size, growth prospects, industry drivers, and challenges. The detailed market segmentation helps stakeholders identify the diverse needs of different consumer groups in the market. Also, it pinpoints opportunities for targeted marketing and product development strategies.
Electronic Shelf Label Market, Product Outlook (Revenue, USD Million, 2019-2032)
- LCD
- Segmented E-Paper
- Full-Graphic E-Paper
Electronic Shelf Label Market, Component Outlook (Revenue, USD Million, 2019-2032)
- Microprocessors
- Batteries
- Transceiver
- Displays
- Others
Electronic Shelf Label Market, Display Size Outlook (Revenue, USD Million, 2019-2032)
- Less than 3 inch
- 3 inch to 7 inch
- 7 inch to 10 inch
- More than 10 inch
Electronic Shelf Label Market, Communication Technology Outlook (Revenue, USD Million, 2019-2032)
- Near Field Communication (NFC)
- Infrared
- Radio Frequency
- Others
Electronic Shelf Label Market, Store Type Outlook (Revenue, USD Million, 2019-2032)
- Supermarkets
- Hypermarkets
- Specialty Stores
- Non-Food Retail Stores
- Others
The Electronic Shelf Label market is revolutionizing the retail industry by enabling real-time pricing, efficient inventory management, and enhanced customer engagement. With advancements in technology, rising adoption in emerging markets, and expanding applications across industries, the ESL market is poised for significant growth. As retailers and businesses continue to embrace digital transformation, ESL systems will play a pivotal role in shaping the future of smart and sustainable retail operations.