Global Electronic Shelf Label Market, By Component; By Display Type; By Communication; By Power; By Color; By Display Size; By Store Type; By Retail Format-Estimation & Forecast, 2017-2030

The global Electronic Shelf Label (ESL) market had a market value of US$ 1.13 Billion in 2022 and is estimated to reach US$ 5.93 Billion by 2030

The global Electronic Shelf Label (ESL) market had a market value of US$ 1.13 Billion in 2022 and is estimated to reach US$ 5.93 Billion by 2030. The market is anticipated to register a CAGR of 23.48% during the forecast period.

Electronic Shelf Labels (ESLs) are digital price tags used in retail stores to display product information, pricing, and other relevant details on store shelves. They serve as an alternative to traditional paper labels and offer several advantages in terms of efficiency and flexibility. ESLs use electronic paper or electronic ink technology to create a digital display that mimics the appearance of printed labels. This allows for clear, easy-to-read information and pricing. Overall, Electronic Shelf Labels offer retailers a more efficient, accurate, and flexible solution for pricing management while enhancing the shopping experience for customers.

Growth Influencers:

Increasing demands for retail automation globally:

The usage of Electronic Shelf Label (ESL) is rising due to the increasing demand for retail automation globally. ESLs offer real-time price updates, ensuring pricing consistency across all store shelves. When prices change, the updates are synchronized instantly, eliminating discrepancies between displayed and actual prices.

In April 2023, SES-imagotag, the global leader in digital solutions for physical retail, announced that they entered into a new agreement with Walmart to initiate the deployment of the latest-generation VUSION platform within several hundred Walmart U.S. stores. Thus, the digitization of stores, made possible at scale by these technologies, will enable them to become highly efficient, more interactive, and decisive assets for the business.

Increasing adoption of NFC technology:

The increasing adoption of Near Field Communication (NFC) technology has expanded the capabilities of Electronic Shelf Labels, enabling seamless customer interactions, enhanced engagement, streamlined payments, and improved inventory management. NFC-enabled ESLs provide retailers with opportunities to create innovative shopping experiences and gain valuable insights into customer behavior. NFC allows seamless and contactless interactions between ESLs and customers' smartphones or NFC-enabled devices. Shoppers can simply tap their devices on the ESLs to access additional product information, promotions, or even make purchases. Such initiatives are likely to support the adoption of NFC technology in developing and developed countries and influence the demand for Electronic Shelf Labels in the near future.

Segments Overview:

The global electronic shelf label (ESL) Market is segmented into components, display type, communication, power, color, display size, store type, and retail format.

By Component:

• Hardware
• Label Management Software
• Services

The Label Management Software segment has the highest CAGR of 23.4%.

By Display Type:

• LCD
• E-Paper
• Full Graphic E-Paper

The E-Paper segment holds more than 45% of the market share in 2022.

By Communication:

• RF
• IR
• NFC

In terms of revenue, the IR segment will cross the mark of US$ 2115.2 million by 2030.

By Power:

• Battery Powered
• Wireless Charge
• Others

The Battery Powered segment holds an opportunity of more than US$ 2,500 million during the forecast period.

By Color:

• Monochrome
• Multi-color

The Multi-color segment holds a revenue of US$ 636.58 million in 2022.

By Display Size:

• 1.5-3 Inches
• 3-6 Inches
• 6-12 Inches
• More than 12 Inches

The 3-6 Inches segment holds more than 35% of the market share in 2022.

By Store Type:

• Grocery/General Retail
• Fashion and Apparel
• Pharma Stores
• Electronics
• Hotels and Restaurants
• Fuel Stations
• Others

The Fashion and Apparel segment dominated the market in 2022, and the Grocery and General Retail market has the highest CAGR of 24.5%.

By Retail Format:

• Hypermarket
• Supermarket
• Specialty Store
• Other Retail Stores

The Hypermarket market is expected to reach more than US$ 3309.3 million by 2030.

Regional Overview:

By region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South America.

North America

• US
• Canada
• Mexico

Europe

• Western Europe
• UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe

Asia Pacific

• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific

Middle East & Africa

• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Latin America

• Argentina
• Brazil
• Rest of South America

Europe holds the highest share of more than 40% and the revenue of 503.1 million during 2022.

Competitive Landscape:

The global electronic shelf label (ESL) market is characterized by the presence of several well-established players, such as SES-imagotag (France), Pricer AB (Sweden), E Ink Holdings (Taiwan), Displaydata (UK), M2Communication (Taiwan), Samsung Display Solutions (South Korea), Diebold Nixdorf (US), Opticon Sensors Europe (Netherlands), Teraoka Seiko (Japan), NZ Electronic Shelf Labelling (New Zealand), Panasonic Corporation, NCR Corporation. These players account for considerable shares in the market and have a strong presence globally.

In June 2022, Pricer, the chief in-store communications company and market leader in facilitating Electronic Shelf Label (ESL) solutions, will launch its state-of-the-art technologies that improve in-store operational performance and uplift the customer experience.

In August 2022, the Canadian retailer Federated Co-operatives Ltd. (FCL), the world's largest provider of digital solutions for physical retail, launched a 120-store expansion rollout agreement. The rollout will take place in early 2023, building on the 30 stores already equipped with the VISION IoT cloud platform. With the help of FCL, retailers can effectively manage, monitor, and carry out all of their price changes and markdowns on a large scale.

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