Electronic Shelf Label Market Size Worth USD 5,444.35 Million By 2032 | CAGR: 13.6%

The global electronic shelf label market size is expected to reach USD 5,444.35 Million by 2032, according to a new study by Polaris Market Research. The report “Electronic Shelf Label Market Share, Size, Trends, Industry Analysis Report, By Product (LCD, Segmented E-Paper, Full-Graphic E-Paper); By Component; By Display Size; By Communication Technology; By Store Type; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing adoption of electronic shelf labels in the retail sector is associated with several benefits, one of which is the reduction in labor costs. ESLs enable retailers to automate the process of updating product prices and information. Automating this process eliminates the necessity for manual price adjustments, thereby reducing the time and labor needed to update multiple tags throughout a store.

With ESL, retailers can make real-time adjustments to pricing, promotions, and product information. This agility in responding to market changes or implementing promotional strategies is achieved without the need for extensive manual labor. The integration of ESLs with other retail systems, such as point-of-sale (POS) and inventory management, streamlines overall operations. This integration reduces the time and effort spent on coordinating tasks manually.  

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Automation through ESLs minimizes the risk of pricing errors that can occur with manual label changes. Pricing accuracy helps prevent discrepancies at checkout and reduces the need for staff to address customer concerns related to incorrect pricing. ESLs contribute to efficient price management, allowing retailers to implement dynamic pricing strategies or respond quickly to market fluctuations. This adaptability is achieved without extensive manual effort.

Retailers can easily implement and update promotional pricing, discounts, or special offers across the store with ESLs. This rapid deployment of promotions reduces the time and labor traditionally associated with such tasks. With less time spent on manual tasks related to pricing and label changes, retail staff can focus more on providing excellent customer service, improving the overall customer experience.

ESLs are scalable solutions that can be efficiently deployed in large retail settings. Whether a store has a few shelves or numerous aisles, the automated nature of ESL helps manage the workload without significant increases in labor requirements. The agility provided by ESL in responding to market trends and adjusting pricing strategies without extensive manual effort allows retailers to stay competitive and meet customer expectations. All these factors contribute to the overall reduction in labor costs for retailers that adopt electronic shelf labels. This is likely to drive the growth of the market constantly throughout the forecast period.

Electronic Shelf Label Market Report Highlights

• The LCD segment dominated the electronic shelf label market, driven by its dynamic and efficient pricing solutions. LCD technology aligns with retailer priorities for efficiency, sustainability, and customer satisfaction, fostering market growth.
• The display segment of the ESL market is projected to grow with a CAGR during the forecast period, driven by the demand for real-time price management, automation, and the advantages of E-ink displays.
• Europe dominates the electronic shelf labels market share in 2023, driven by key players, rising labor costs, and increasing adoption of automated solutions to cut operational expenses.
• The global key market players include RAINUS, SES-imagotag, Pricer, Displaydata Ltd., Dahua Technology Co., Ltd., Teraoka Seiko Co., Ltd., Opticon, E Link Holding Inc., Minew, M2COMM, Shanghai Sunmi Technology Co., Ltd., and Hanshow Technology.

Polaris Market Research has segmented the Electronic Shelf Label market report based on product, component, display size, communication technology, store type, and region:

Electronic Shelf Label, Product Outlook (Revenue - USD Million, 2019 - 2032)

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

Electronic Shelf Label, Component Outlook (Revenue - USD Million, 2019 - 2032)

• Microprocessors
• Batteries
• Transceiver
• Displays
• Others

Electronic Shelf Label, Display Size Outlook (Revenue - USD Million, 2019 - 2032)

• Less than 3 inch
• 3 inch to 7 inch
• 7 inch to 10 inch
• More than 10 inch

Electronic Shelf Label, Communication Technology Outlook (Revenue - USD Million, 2019 - 2032)

• Near Field Communication (NFC)
• Infrared
• Radio Frequency
• Others

Electronic Shelf Label, Store Type Outlook (Revenue - USD Million, 2019 - 2032)

• Supermarkets
• Hypermarkets
• Specialty Stores
• Non-Food Retail Stores
• Others

Electronic Shelf Label, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of APAC

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of MEA

Electronic Shelf Label Market Report Scope