The global Electronic Shelf Labels Market size was estimated at USD 1,440 million in 2023 and is projected to reach USD 3,163.54 million in 2030 at a CAGR of 11.90 % during the forecast period 2024-2030.

The electronic shelf labels (ESL) market refers to the use of digital price tags that are placed on retail store shelves to display product information, such as prices, promotions, and product descriptions. These labels utilize e-ink technology or other digital display methods to provide real-time updates, reducing the need for manual price changes. ESLs are increasingly being adopted by retailers due to their ability to enhance customer experience, streamline store operations, and improve pricing accuracy and flexibility.

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Several factors are fuelling the expansion of the ESL market. The rise of e-commerce and omnichannel retailing has made it essential for physical stores to enhance operational efficiency and offer seamless pricing strategies.

Key Findings:

The 7 to 10 inches segment is anticipated to experience the highest CAGR in the electronic shelf labels market during the forecast period, owing to its excellent visibility and flexibility. These displays provide an ideal balance between compact design and ample display area, making them versatile for various retail applications.

The growing trend towards digital shelf technologies and the adoption of smart retail practices are driving the demand for mid-sized ESDs. These displays can incorporate advanced features such as wireless connectivity, integration with inventory management systems, and the use of e-paper or LCD technology, boosting their efficiency and profitability.

The Fully Graphic E-paper display type is projected to experience rapid growth during the forecast period. These displays, with their paper-like appearance and low power consumption, outperform traditional LCD and LED technologies. They provide superior performance compared to segmented or partial graphic e-paper displays and are capable of showing detailed graphics, animations, and high-resolution images.

Recent Developments

• In October 2024, Pricer’s partner JRTECH Solutions entered into an agreement with Associated Grocers, Inc., a leading grocery wholesaler, to adopt electronic shelf labels in Canadian retail stores.

• In September 2024, VusionGroup teamed up with Médiaperformances, a prominent player in retail media, to revolutionize in-store retail media experiences. The partnership aims to develop a SaaS platform that integrates IoT solutions for managing and distributing in-store campaigns.

• In February 2024, Pricer partnered with PaperShell to make strides in the electronics industry. Their collaboration focuses on creating ESX Electronic Shelf Labels made entirely from bio-based materials, free of fossil components. This initiative is part of a broader effort to define sustainability in the electronics sector.

• In January 2024, VusionGroup launched a new generative AI application in physical commerce marketing, marking a significant step forward in applying artificial intelligence to physical retail spaces. This launch is part of a larger trend where generative AI is transforming how businesses interact with consumers and streamline operations.

• Also, in January 2024, Displaydata Ltd. formed a partnership with Ligna Energy to revolutionize retail technology with future smart ESL solutions.

Competitive Landscape

·        VusionGroup

·        Solum

·        Pricer AB

·        Displaydata

·        Teraoka Seiko Co., Ltd.

·        M2Comm

·        Opticon

·        Partron ESL and more.

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Europe to Dominate the Market

The U.S. electronic shelf label market held the largest share of over 35.0%, driven by significant competition from the e-commerce sector. During the COVID-19 pandemic, food retailers in the U.S. faced unprecedented challenges, prompting them to integrate technological solutions into their operations post-pandemic.

The Electronic Shelf Labels Market Segmentation:

Based on Component

·        Displays

·        Batteries

Based on Product

·        Liquid Crystal Displays (LCDs)

·        Segmented E-paper

Based on Offering

·        Hardware

Based on Communication Technology

·        Radio Frequency (RF)

·        Infrared

Based on Display Size

·        Less than 3 Inches

·        3 to 7 Inches

Based on End-User

·        Retail

Based on region:

·        Asia Pacific

·        North America

·        Europe

·        South America

·        Middle East & Africa

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In addition to the market data for the Electronic Shelf Labels Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.

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