Global Electronic Shelf Label Market

Electronic Shelf Label Market Size, Share, Growth Analysis, By Component, By Product, By Offering, By Communication Technology, By Region - Industry Forecast 2025-2032

Report ID: SQMIG20A2281 | Region: Global | Published Date: December, 2024
Pages: 174 | Tables: 118 | Figures: 72

Electronic Shelf Label Market Insights

Electronic Shelf Label Market size was valued at USD 1719.75 Million in 2023 and is poised to grow from USD 1991.47 Million in 2024 to USD 5560.74 Million by 2032, growing at a CAGR of 15.8% during the forecast period (2025-2032).

Since customers are shifting towards the e-commerce platforms according to the adaptation trend, retailers have been forced to add innovative and cost-effective solutions to the in-store shopping experience, such as ESLs. Since ESLs can offer customized information and offers according to the consumer's choice, most cherish the personal experience that ESLs deliver. One of the reasons the electronic shelf label industry has grown is because their marketing strategies can be deployed in real-time across the enterprise and pricing changed in real time. In addition, high adoption of digital technologies within the retail industry is substituting the newer electronic labels for the older paper-based labels, which is another factor contributing to the electronic shelf label market growth. Automation is an increasingly important trend in the US retail industry. As businesses move toward improving operational efficiency and attaining customer satisfaction, their focus on automation enhances the overall purchase experience and the streamlined process of managing inventory. One notable instance is the installation of a full automation system at Walmart's Fulfillment Centers (FCs) and Distribution Centers (DCs), particularly in its facility located in Cleburne, Texas, in March 2021. The program demonstrates enhanced performance in processes and engages customers through growing importance in the retail operations of technology and positions merchants to meet changing consumer needs.

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FAQs

Global Electronic Shelf Label Market size was valued at USD 14.30 billion in 2022 and is poised to grow from USD 17.22 billion in 2023 to USD 76.03 billion by 2031, growing at a CAGR of 20.40% during the forecast period (2024-2031).

The electronic shelf label market boasts fragmentation and consolidation characteristics. On one hand, the great presence is significant globally. Furthermore, local players exist with specific country or regional focus. Most of these companies typically have a strong customer base, market share, and scope of products. The development of new products, and cooperation with end consumers, are the principal activities carried out by market participants. 'Solum  ', 'Pricer AB  ', 'Displaydata  ', 'Teraoka Seiko Co., Ltd.  ', 'M2Comm  ', 'Opticon  ', 'Partron ESL  ', 'Shanghai Sunmi Technology Co., Ltd.  ', 'Hanshow  ', 'Dalian Sertag Technology Co., Ltd.  ', 'Minewtag  ', 'Labelnest  ', 'Digety  ', 'Zkong Networks  ', 'Tronitag GmbH  ', 'Yalatech  ', 'Sssind  ', 'Allsee Technologies Limited '

Increasing complexity in the operation of the big warehouse or retail shops has fueled the demand for intelligent inventory management. ESL is turning out to be a viable remedy for the out-of-stock menace afflicting the retail industry. As per research studies published by Institute of Grocery Distribution and IGD Services, the industry-wide out-of-the-stock rate is approximately 4.5%. Improvements in the more sophisticated ESLs, which are linked to customers' cellphones and supported by advanced analytics, should streamline the smart inventory management process. Similarly, market participants should look forward to new opportunities because VMI and SKU are predicted to be used much more widely in the future.

Rising Popularity of In-Store Internet of Things (IoT): One of the major electronic shelf label market trends is the growing popularity of in-store IoT. In the short-term future, in-store IoT will be one of the key players. Recently, SES-imagotag and Qualcomm Technologies International Limited jointly announced a collaboration. This was to enable the formation of an advanced, high-performance, ultra-low power, and improved security connection solution. The goal is the widespread application of IoT technology in retail businesses. The outcome of these collaborations and partnerships probably have to benefit the retailers, who might, in turn, use such digital and Internet of Things technology to date the in-store infrastructure and develop automated, data-driven business processes.

As per the electronic shelf label market forecast, North America gained the most market share in ESL in 2023. This is primarily due to growing applications of store automation and relentless changes in the supply of paper caused by a rise in demand for packaging materials. Real-time pricing and product information updates are among the prime advantages that have prompted the North American merchants to gradually change from traditional paper labels to ESLs. There is also increasing pressure from the retailers to cut the labor cost to unreasonably elevated levels, yet they continue to elevate customers' experience and convenience. Two regional ESL implementations are the recent rollout of SmartTAG Color ESLs by Associated Grocers-one of the western Canada's largest grocery wholesalers-which have teamed up with JRTech Solutions as of 2023-10.

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Global Electronic Shelf Label Market

Report ID: SQMIG20A2281

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