Electronic Shelf Label Market Report 2025

The electronic shelf label market size has grown rapidly in recent years. It will grow from $1.31 billion in 2024 to $1.53 billion in 2025 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to retail efficiency, inventory management, enhanced customer experience, cost reduction, competitive market dynamics.

The electronic shelf label market size is expected to see rapid growth in the next few years. It will grow to $2.87 billion in 2029 at a compound annual growth rate (CAGR) of 17.2%. The growth in the forecast period can be attributed to digital transformation in retail, demand for real-time pricing, focus on sustainability, integration with retail technologies, global retail expansion. Major trends in the forecast period include adoption of ESLS in non-food retail sectors, incorporation of touchless shopping features, implementation of cloud-based ELS platforms, focus on enhanced battery life and energy efficiency, customization and personalization in ELS solutions.

The surge in automation adoption within the retail sector is anticipated to be a significant driver propelling the growth of the electronic shelf-label (ESL) market in the foreseeable future. Automation in retail involves leveraging technology and machinery to streamline processes and ensure operational efficiency. It spans various functions, including inventory management, customer service enhancement, self-checkout mechanisms, and optimization of supply chain operations. Electronic shelf labels (ESLs) play a pivotal role in retail automation, aiding retailers in effectively managing prices, promotions, inventory, and elevating the overall shopping experience for customers. For instance, as reported by the World Economic Forum in January 2023, artificial intelligence services within the retail automation domain are projected to witness substantial growth from $5 billion to over $31 billion by 2028. Hence, the escalating adoption of automation in the retail landscape acts as a catalyst driving the electronic shelf-label market's growth.

The expanding realm of retail e-commerce is poised to drive the advancement of the electronic shelf-label market moving forward. Retail e-commerce, conducted through online platforms or dedicated websites, involves the buying and selling of goods and services over the internet. Within retail e-commerce, Electronic Shelf Labels (ESLs) serve critical functions such as real-time price updates, display of promotional pricing, discounts, special offers, and facilitation of services such as click-and-collect or buy online, pick up in-store (BOPIS). For instance, data from the U.S. Census Bureau News in November 2023 highlighted a 7.6% (±1.2%) increase in e-commerce sales in Q3 2023 compared to the same period in 2022, surpassing the 2.3% (±0.4%) growth observed in total retail sales during that timeframe. Consequently, the expanding landscape of retail e-commerce drives the growth trajectory of the electronic shelf-label market.

Product innovation is a significant trend gaining traction in the electronic shelf label market. Companies within this sector are implementing innovative solutions, such as large-format displays, to maintain their competitive edge. For example, in January 2023, Ynvisible Interactive Inc., a Canadian manufacturer of printed e-paper displays, introduced the Large Format Electronic Shelf Label Display. Targeted primarily at grocery store retailers, this new display provides a clear and accessible way to present essential product information and pricing. The Large Format Electronic Shelf Label Display offers a convenient and engaging method for customers to obtain vital details about the products they are considering. Its unique selling points include a cost reduction of up to 80% compared to other reflective display technologies, highly customizable options with no minimum order quantity, ultra-low power consumption, and a robust design capable of enduring the demands of daily use in a grocery store setting.

Leading companies within the electronic shelf label (ESL) market are directing their focus towards integrating advanced technologies such as High-Density Low-Power Cellular Network (HiLPC) technology, aiming to fortify their market position. HiLPC technology represents an advanced wireless communication system strategically designed to facilitate efficient connectivity in densely populated areas while minimizing power consumption and maximizing network capacity. An illustrative case is Hanshow Technology, a China-based firm specializing in ESL solutions, which introduced its latest generation protocol of HiLPC technology alongside a four-color Electronic Shelf Label (ESL) in January 2023. This innovative HiLPC system architecture markedly elevates ESL communication speed, achieving update speeds surpassing 60,000 pieces per hour per ESL controller. Such enhanced efficiency expedites installation and binding processes. The HiLPC's exceptionally high system throughput enables the update of tens of millions of devices within minutes, significantly bolstering clients' ability to efficiently manage globally distributed stores.

In November 2022, Jumbo Supermarkten B.V., a Netherlands-based supermarket chain, forged a partnership with Hanshow Technology, marking a significant development in the ESL domain. Through this collaboration, Jumbo Supermarkten B.V. aims to digitize over 700 stores across the Netherlands and Belgium by integrating more than 11 million electronic shelf labels (ESLs). This partnership signifies Jumbo's commitment to digitally transforming its extensive network of stores, positioning itself as a leading retailer across Europe. Notably, Hanshow Technology, recognized as a China-based developer and manufacturer of ESLs and digital store solutions, specializes in offering customized IoT touchpoint solutions, showcasing its proficiency in catering to diverse market needs and demands.

Major companies operating in the electronic shelf label market include SES-imagotag, Pricer AB, E Ink Holdings Inc., Displaydata Limited, Solum ESL, Opticon Sensors Europe B.V., Teraoka Seiko Co Ltd., MinewTag, Panasonic Holdings Corporation, NCR Corporation, LG Innotek Co. Ltd., CLEARink Displays Inc., Shanghai SUNMI Technology Co. Ltd., troniTAG GmbH, Samsung Electro-Mechanics Co. Ltd., Altierre Corporation, AdvanTech Inc., Display Solutions AG, Hanshow Technology, Pervasive Displays Inc., SoluM Co. Ltd.

Europe was the largest region in the electronic shelf label market in 2024. The regions covered in the electronic shelf label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electronic shelf label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An Electronic Shelf Label (ESL) is a digital display employed in retail establishments to showcase product information such as price, promotions, and details. The primary function of Electronic Shelf Labels (ESLs) is to provide real-time pricing and product information.

The main components of an electronic shelf label include displays, batteries, transceivers, and microprocessors. Displays are visual devices that convey information and are used across various applications, including consumer electronics, advertising, digital signage, medical devices, and automotive displays. Different types of products include LCDs (liquid-crystal display), segmented e-paper displays, and fully graphic e-paper displays, available in various sizes. These displays utilize communication methods such as radio frequency, infrared, near-field communication, among others. Electronic shelf labels find applications in supermarkets, convenience stores, departmental stores, specialty stores, and pharmacies.

The electronic shelf label market research report is one of a series of new reports that provides electronic shelf label market statistics, including electronic shelf label industry global market size, regional shares, competitors with an electronic shelf label market share, detailed electronic shelf label market segments, market trends, and opportunities, and any further data you may need to thrive in the electronic shelf label industry. This electronic shelf label market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electronic shelf label market consists of sales of radio frequency identification (RFID) ESLs, electronic price labels (EPL) ESLs, LED (light-emitting diode) ESLs, and NFC (near-field communication) ESLs. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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