Electronic Shelf Label Market

The global Electronic Shelf Label Market is valued at USD 976.9 Million in 2023 and is projected to reach a value of USD 4001.0 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 18.70% between 2024 and 2032.

Key highlights:

• Europe dominated the market in 2023, obtaining the largest revenue share of 41.5%
• The Fully Graphic E-Paper Displays segment dominated the Electronic Shelf Label market with the largest market share of 45.2% in 2023
• The Radio Frequency dominated the Electronic Shelf Label market with the largest market share of 45.8% in 2023
• The Supermarkets segment dominated the Electronic Shelf Label market with the largest market share of 40.4% in 2023
• The Displays segment dominated the Electronic Shelf Label market with the largest market share of 41.4% in 2023
• The Less than 3 inches segment dominated the Electronic Shelf Label market with the largest market share of 52.6% in 2023
• Electronic shelf labels are a great alternative to conventional paper shelf tags since they are more accurate, efficient, and versatile. retailers utilize Electronic Shelf Labels (ESLs), a cutting-edge technology solution, to show product details and prices on store shelves.

Regional Overview:

Europe Dominated Sales with a 41.5% share in 2023. There are a number of important factors that are driving the growth of the ESL market in Europe, including the use of ESLs in the region. Retailers can more successfully deploy dynamic pricing strategies with the help of ESLs. Retailers can more successfully deploy dynamic pricing strategies with the help of ESLs. They are able to instantly modify prices in response to a number of variables, including competition, demand, and even the time of day. This adaptability is especially useful in the fiercely competitive European retail

market. Europe has strict laws governing price accuracy and openness. ESLs guarantee that prices are accurate and up to date at all times, which assists shops in adhering to these rules. ESLs help the region achieve its sustainability objectives by lowering the demand for paper price tags and limiting the environmental effect of pricing fluctuations. ESLs gather important information about consumer interactions and purchase patterns. European retailers utilize this data to better their marketing and sales efforts by gaining insights into customer preferences.

France Electronic Shelf Label Market Overview:

The Electronic Shelf Label market in the France was valued at USD 191.0 Million in 2023, is projected to reach around USD 545.1 Million by 2030. This forecast indicates a substantial Compound Annual Growth Rate (CAGR) of 16.2% from 2024 to 2032. The adoption of ESLs in France has been influenced by government legislation. In order to ensure compliance with regulations, shops have been pushed to switch from traditional paper tags to ESLs due to requirements for digitally displaying product information. In France, the use of ESL is not exclusive to stores. ESLs are also being used by other retail industries, including as home goods, clothing, and consumer electronics. Because of its adaptability, ESLs can be used in a variety of retail settings and with a wide range of products. ESLs are now more dependable and economical due to ongoing technological improvements in areas like wireless communication, longer battery life, and better display clarity. The ESL market in France has expanded as a result of developments such as Real-time information, operational effectiveness, customized pricing, regulatory compliance, and enhanced customer experiences are the main reasons why ESLs are used in France. These elements are driving the expansion of the ESL market in the nation, together with technical developments.

Type Overview

In 2023, Fully Graphic E-paper Displays segment dominated the market, with the largest market share accounting for 45.2% of the overall market. The Electronic Shelf Label market, segmented by the types, includes LCD Electronics shelf label, E-paper Electronics Shelf label, Fully Graphics E-Paper Displays. Completely Graphic E-paper Displays are a fantastic advancement in the field of Electronic Shelf Labels (ESLs) and are essential to the expansion of the market. These screens use cutting - edge electronic paper (e-paper) technology to show high-definition graphics and images in addition to text and numbers. The capacity of Fully Graphic E-paper Displays to efficiently enable dynamic pricing and promotions is one of their main contributions to the ESL market. Retailers can use these displays to run visually appealing promotions, show off graphics for sales, and present pricing information. This degree of visual engagement can boost sales for shops, encourage impulsive purchases, and greatly improve the efficacy of promotional programs. Retailers can contribute to a more ecologically friendly retail environment by reducing paper waste by switching out traditional paper price tags with electronic paper displays. Adopting eco-friendly methods can improve a retailer's reputation and draw in environmentally sensitive customers.

Communication Technology Overview

In 2023, Radio Frequency segment dominated the market, with the largest market share accounting for 45.8% of the overall market. The Electronic Shelf Label market, segmented by the Communication Technology, includes Radio Frequency, Infrared, Near field communication, Bluetooth, Wi-Fi, Zigbee, Others. A key element of electronic shelf labels (ESLs) and a major factor in the market expansion for ESLs is radio frequency (RF) technology. These labels, which are widely used in retail settings, have changed dramatically as a result of the use of RF technology, offering several advantages. Real-time communication between ESLs and the central database is made possible by RF technology and this makes it possible for pricing, product details, and promotions to be instantaneously updated throughout the business, guaranteeing that buyers always see correct and current information. Radio frequency-powered ESLs do away with the requirement for manual price tag changes. Every time a price changes, employees must physically update traditional paper-based price tags. For instance, ESLs can reduce shrinkage and deter theft by setting off alarms if they are taken without permission from their assigned shelves. Due to their excellent scalability, RF-enabled ESL systems can be used in both small and big retail settings.

End Use Overview

In 2023, Supermarkets segment dominated the market, with the largest market share accounting for 45.8% of the overall market. The Electronic Shelf Label market, segmented by the End Use, includes Retail Stores, Supermarkets, Hypermarkets, and Others. Supermarkets have been using Electronic Shelf Labels (ESLs) more and more, which has changed how these businesses run and engage with their patrons. These digital price tags promote efficiency and growth in the grocery industry by offering a host of advantages. Digital display units, or ESLs, have taken the role of conventional paper price tags on grocery store shelves. They display product details, costs, and promotions using LCD or e-ink technology. In addition to saving supermarkets money on operations, this supports sustainability aims. ESLs gather data about consumer interactions and product performance. Supermarkets can use this data to refine pricing plans, improve product placements, and obtain insights into consumer behavior. It is possible to link supermarket loyalty schemes with ESLs.

Component Overview

In 2023, the Displays segment dominated the market, with the largest market share accounting for 41.4% of the overall market. The Electronic Shelf Label market, segmented by the Component, includes Displays, batteries, Transceivers, Microprocessors and Others. For retailers and buyers alike, these displays act as a visual interface that communicates product characteristics, pricing, and promotional messaging. Regarding ESL, displays cover a wide range of topics, such as types, technologies, and capabilities, all of which have a substantial impact on the market's growth. Electronic ink, or E-ink displays, are one of the main display types used in ESL systems. The retail business is a big fan of e-ink displays because of their superior visibility, low power consumption, and ability to look like traditional paper labels. Furthermore, ESL systems can run for long periods on a single battery charge because E-ink displays are noted for their low power consumption. Retailers benefit greatly from this energy efficiency since it lowers operating expenses, which has led to the widespread use of ESL systems. ESL displays can also be easily updated remotely, which is an important feature of effective retail operations since it guarantees that price and product information are accurate and up to current throughout the whole shop.

Display Size Overview

In 2023, Less than 3 inches segment dominated the market, with the largest market share accounting for 52.6% of the overall market. The Electronic Shelf Label market, segmented by the Display Size, includes Less than 3 inches, 3 to 7 inches, 7 to 10 inches, more than 10 inches. Electronic shelf labels, or ESLs, have completely changed the retail sector by providing a flexible and effective way to manage product information and price. Regarding ESLs that are smaller than three inches, there are a number of important concepts and factors that support the expansion of this market niche. ESLs that are smaller than three inches enable retailers to utilize shelf space efficiently. Smaller labels allow businesses to put more merchandise on the shelves, giving customers a better overall shopping experience. ESLs improve the customer experience by giving customers accurate and up-to-date product information. Retailers may easily display ESLs—which are less than three inches in size—near products so that shoppers can readily access details like prices, product descriptions, and promotions. The industry is expanding considerably due in large part to electronic shelf labels that are smaller than three inches. Their adoption is primarily driven by considerations such as miniaturization, space optimization, real -time price updates, improved inventory management, and increased consumer experiences.

Key Trends

• Transceivers are being adopted by the electronic shelf label (ESL) market at a rapid pace. In order for ESLs to interact with the central system for pricing updates and information distribution, several communication components are essential.
• Products in the electronic shelf label (ESL) industry that have display sizes between 7 and 10 inches are being adopted at a very quick pace. This variety of display sizes finds a compromise between meeting the changing needs of contemporary retail settings and offering enough screen real estate to communicate pricing and product information effectively.
• Fully Graphic E-paper Displays are gaining popularity more quickly than LCD Electronic Shelf Labels in the fast-changing electronic shelf label (ESL) sector.

Premium Insights

The Electronic Shelf Label market will see a rise in demand for Electronic shelf lable in supermarkets, the key companies in the market are majorly focusing on partnerships and collaborations, mergers and acquisitions, and new product launch. The Key Companies are Pricer, Displaydata ltd., SES-imagotag, E-ink holdings Inc, Samsung Electro-mechanics co. ltd, Opticon, Teraoka Ltd., Solum, Rainus, Deki electronics Ltd., For instance, In Feb 2023, Pricer and Epishine, a prominent developer and manufacturer of indoor solar cells, are collaborating to enable a sustainable solution for powering ESLs with ambient indoor light. The objective of this collaboration is to find a solution that incorporates the advantages of digitalization with an increased emphasis on sustainability. Similarly, In October 2022 JRTech Solutions, a partner of Pricer, has installed Pricer's most recent iteration of fully graphic electronic shelf labels (ESL) in ten Jean Coutu pharmacies in Canada.

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Market Dynamics

Improving retail efficiency and customer experience

Global demand for Electronic Shelf Labels (ESLs) is fueled in part by the need to improve retail efficiency and customer experience. Retailers can update pricing in real -time from a central control system with the help of ESLs. For the retail sector, this is revolutionary since it does away with the necessity for human pricing adjustments, which may be expensive, time consuming, and prone to errors. Prices can be instantly changed with ESLs, giving retailers the flexibility to react quickly to changes in the market, rival pricing tactics, and promotional events. for instance, automatically lower the price of winter apparel during a hot wave. These kinds of dynamic pricing techniques improve competitiveness and profitability. ESLs are more than just expensive. Real -time stock levels can be shown on them, making it easier for customers and store employees to determine which products are in stock rapidly. This function contributes to effective inventory control by lessening the possibility of out-of-stock scenarios, which annoy customers and cost businesses sales.

Growing need for data analytics and business intelligence

The growing need for data analytics and business intelligence in retail is another factor propelling the global use of Electronic Shelf Labels (ESLs). The era of data-driven decision making has arrived in the retail sector, and ESLs are leading this change. Their capacity to gather, handle, and transfer data in real-time from store shelves to a central repository has become an invaluable resource for retailers looking to learn more about consumer behavior, inventory control, and overall store efficacy. Retailers can determine best-selling products, slow-moving items, and even those that might need to have smart markdowns to clear inventory by looking at sales trends. Retailers are able to make well-informed decisions that have a direct effect on their bottom line because of this degree of data granularity. By analyzing this data, retailers can learn more about the behavior of their customers. For instance, the things that buyers regularly look at but don't buy, which could point to problems with price or marketing. In order to improve store designs and product positioning, retailers can also track the length of time customers spend in particular product aisles or areas.

Competitive Landscape

The Electronic Shelf Label market is extremely competitive, with well-known Electronic labels giants like Pricer, Displaydata Ltd., SES-imagotag, E-ink holdings Inc, Samsung Electro-mechanics co. ltd, Deki electronics Ltd. For Instance, In September 2022, Avantis Cooperative, one of the biggest cooperatives in Quebec with over $650 million in net sales and the largest BMR Dealer in the province, has extended its exclusive agreement with Pricer's partner, JRTech Solutions, Canada's largest supplier of electronic shelf labels, to equip additional BMR hardware shops with Pricer electronic shelf labels (ESLs). Similarly, In November 2022, E Ink Holdings, Inc., sometimes known as "E Ink," established a strategic alliance with Yes Optoelectronics Co., Ltd., a top designer and producer of LCD panels for commercial use. The collaboration will be concentrated on product manufacturing, essential materials, research and development of ePaperrelated modules, and sales and marketing assistance.

The key players in the global Electronic Shelf Label market include - Opticon, Teraoka (Pty) Ltd., Pricer, SES-imagotag, Samsung Electro-Mechanics Co., Ltd., SOLUM, Deki Electronics Ltd., RAINUS, Displaydata Ltd., E Ink Holdings Inc. among others.

Recent Market Developments

• In Feb 2023, Pricer and Epishine, a prominent developer and manufacturer of indoor solar cells, are collaborating to enable a sustainable solution for powering ESLs with ambient indoor light. The objective of this collaboration is to find a solution that incorporates the advantages of digitalization with an increased emphasis on sustainability.
• In Feb 2023, Qualcomm Technologies, Inc. said that they are working with SES-imagotag to develop technology that will allow for new electronic shelf labels (ESLs). These ESLs will be based on the Bluetooth Special Interest Group's (SIG) recently published ESL wireless standards. For wireless communications, ESL systems have, up until now, relied on proprietary protocols. The Bluetooth SIG working group was led by Qualcomm Technologies and SES-imagotag, with the objective of developing scalable, ultra-low power, highly secure, standard based ESLs that will empower employees, improve customer experiences, and increase operational efficiencies for retailers.

The global Electronic Shelf Label market can be categorized as Types, Communication technology, End use, Component, Display Size, and Region.