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 a transformative segment of the retail and inventory management industry, offering innovative solutions for pricing automation, inventory optimization, and enhanced customer engagement. ESL systems replace traditional paper labels with digital displays that can be updated remotely and in real-time using wireless communication technology. These labels are commonly used in retail stores, warehouses, and supermarkets to display product information, prices, and promotional offers.
By eliminating the need for manual updates, ESL systems reduce labor costs, enhance pricing accuracy, and improve operational efficiency. With the rising demand for seamless shopping experiences and the integration of digital technologies in retail environments, the adoption of ESL solutions has grown significantly.
Key Trends:
Several emerging trends are shaping the Electronic Shelf Label Market:
- Adoption of E-Ink Technology: E-Ink displays are becoming the preferred choice for ESL systems due to their low power consumption, high visibility, and ability to display multiple colors.
- Integration with IoT and AI: ESL systems are increasingly being integrated with IoT devices and AI algorithms, enabling advanced functionalities such as inventory tracking, demand forecasting, and personalized promotions.
- Expansion in Non-Retail Sectors: Beyond retail, industries such as healthcare, logistics, and manufacturing are adopting ESL systems for applications like asset tracking and supply chain management.
- Wireless Communication Advancements: Innovations in wireless communication technologies, such as Bluetooth Low Energy (BLE) and Wi-Fi 6, are enhancing the reliability and scalability of ESL systems.
- Focus on Sustainability: Retailers are embracing ESL systems as part of their sustainability initiatives, reducing paper waste and energy consumption in their operations.
Major Key Players:
- Dahua Technology Co., Ltd.
- Displaydata Ltd.
- E Link Holding Inc.
- Hanshow Technology
- M2COMM
- Minew
- Opticon
- Pricer
- RAINUS
- Teraoka Seiko Co., Ltd.
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/electronic-shelf-label-market
Recent Developments:
- In April 2023, Hanshow introduced the Nebular Pro series of four-color Electronic Shelf Labels (ESLs) at the “Revitalization and Excellence” product launch event in China. This innovative series marked a new era in digital retail, delivering vibrant and dynamic displays for enhanced customer engagement.
- In November 2023, RAINUS partnered with Toshiba Global Commerce Solutions to integrate ESL technology into dynamic pricing systems. This collaboration aims to enhance store efficiency, improve customer experiences, and address labor challenges in the retail sector.
- In July 2023, ASDA teamed up with Avery Berkel and Hanshow to launch the UK’s first sustainability trial store. This initiative combines advanced ESL technology and digital retail solutions to provide a better shopping experience while promoting eco-friendly practices, including refillable solutions.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
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 poised for robust growth as retailers and businesses continue to prioritize digital transformation and operational efficiency. The integration of advanced technologies such as AI, IoT, and cloud-based management platforms is expected to unlock new possibilities for ESL systems, making them smarter and more versatile.
𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
Industrial Air Compressor Market Share