Electronic Shelf Label (ESL) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Electronic Shelf Label (ESL) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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.

An Electronic shelf label (ESL) system stands for a tool that is used by retailers to display specific product information and price on the shelves. It provides an electronic linkage between the store checkout system and product shelves, thereby ensuring accurate product pricing. Furthermore, the ESL system comes with high durability, prolonged shelf life, replaceable batteries, and can be updated from time to time without any hassle. Owing to the rising trend of automation, electronic shelf labels are widely adopted by all kinds of retail stores, including supermarkets, hypermarkets, specialty stores, departmental stores, etc.

In recent times, the high prevalence of technological revolution across the retail industry of both the developed and developing regions have augmented the demand for ESL systems. Furthermore, the developing economies, such as China and India, have emerged as substantial markets for retail automation. Several retailers are adopting retail automation solutions for improved consumer satisfaction, automatic price updates, reduced operational and labor costs, and efficient store management. In addition to this, the rapid integration of full graphic e-papers with ESL systems has positively influenced the development of in-store communication solutions. Moreover, various technological advancements, for instance, the introduction of ESL systems based on radio frequency (RF) communication technology, are expected to fuel the growth of the global electronic shelf label market in the coming years.

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.

Breakup by Type:

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

Based on the type, the report finds that liquid crystal displays (LCDs) exhibit a clear dominance in the market, accounting for the majority of the global market share. Other popular types are full-graphic and segmented e-papers.

Breakup by Component:

Hardware 
Software

The market has been bifurcated based on the component into hardware and software. Hardware currently represents the most popular component.

Breakup by Technology:

Radiofrequency
Infrared
NFC
Others

On the basis of the technology, the market has been categorized into radiofrequency, infrared, near-field communication (NFC) and others. At present, the majority of ESLs employ radiofrequency technology.

Breakup by Application:

Supermarkets and Hypermarkets
Convenience Stores
Others

Based on the application, the market has been segregated into supermarkets and hypermarkets, convenience stores and others. Amongst these, ESLs are most widely utilized in supermarkets and hypermarkets.

Breakup by Region:

Europe
North America
Asia Pacific
Latin America
Middle East and Africa

Region-wise, Europe holds the leading position in the market. Other major markets include Asia Pacific, North America, Latin America, and Middle East and Africa.

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players.

Altierre SAS
Diebold Nixdorf, Incorporated
DIGI System Gurgaon Pvt. Ltd.
Displaydata Limited
LG CNS
M2C Communication doo Belgrade
Panasonic Corporation
Pricer AB
Samsung Electronics
SES-imagotag

Key Questions Answered in This Report:

How has the global electronic shelf label market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global electronic shelf label market?
What is the breakup of the global electronic shelf label market based on the type?
What is the breakup of the global electronic shelf label market based on the component?
What is the breakup of the global electronic shelf label market based on the technology?
What is the breakup of the global electronic shelf label market based on the application?
What are the key regional markets?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global electronic shelf label market and who are the key players?
What is the degree of competition in the market?