What are the Historical Developments and Current Growth Metrics of the Electronic Shelf Label Market?
The electronic shelf label market has seen considerable growth due to a variety of factors.
• The size of the electronic shelf label market has expanded swiftly over the past few years. The market is predicted to increase from $1.31 billion in 2024 to $1.53 billion in 2025, with a compound annual growth rate (CAGR) of 16.3%. The surge during the historical phase can be credited to factors such as retail efficacy, improved inventory management, bettered customer interaction, cost-cutting measures, and competitive market dynamics.
What Does Future Hold for The Electronic Shelf Label Market Size Evolve over the Forecast Period?
The Electronic Shelf Label market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of electronic shelf labels is projected to experience a significant increase in the forthcoming years, escalating to $2.87 billion by 2029 with an impressive compound annual growth rate (CAGR) of 17.2%.
The surge during the prediction period can be ascribed to the proliferation of digital evolution in retail, the need for real-time pricing strategies, the concentration on sustainability, and integration with new-age retail technologies, along with retail expansion worldwide. The upcoming period will also witness major trends such as the introduction of electronic shelf label systems in non-food retail sectors, the incorporation of zero-contact shopping features, the employment of ELS platforms based in the cloud, a focus on improving battery endurance and energy conservation, and customization and personalization of ELS solutions.
What Are The Primary Growth Drivers In The Electronic Shelf Label Market?
The growth of the electronic shelf-label market is anticipated to be fueled by an increased uptake of automation within the retail industry. Retail automation involves utilizing machines and technology to enhance processes and ensure smooth operations. It finds utility in functions such as inventory management, customer services, self-checkout, and supply chain management. Electronic shelf labels (ESLs) play a crucial role in this automation, aiding retailers in managing their prices, promotions, and stocks more effectively, while simultaneously elevating the consumers' shopping experience. For example, the World Economic Forum, a Switzerland-based international non-governmental and lobbying organization, reported in January 2023 that the retail automation sector's AI services are projected to escalate from $5 billion to over $31 billion by 2028. Thus, the surge in the use of automation in retailing is significantly contributing to the expansion of the electronic shelf-label market.
What Is The Segmentation Of The Global Electronic Shelf Label Market?
The electronic shelf label market covered in this report is segmented –
1) By Component: Displays, Batteries, Transceivers, Microprocessors
2) By Product Type: LCDs (Liquid-Crystal Display), Segmented E-paper Displays, Fully Graphic E-paper Displays
3) By Display Size: Less Than 3 Inches, 3 To 7 Inches, 7 To 10 Inches, More Than 10 Inches
4) By Communications Technology: Radio Frequency, Infrared, Near-Field Communication, Other Technologies
5) By Application: Super market, Convenience Store, Departmental Store, Specialty Store, Pharmacies
Subsegments:
1) By Displays: E-ink Displays, LCD Displays, LED Displays
2) By Batteries: Rechargeable Batteries, Non-rechargeable Batteries
3) By Transceivers: RF Transceivers, Infrared Transceivers
4) By Microprocessors: Low-Power Microcontrollers, High-Performance Microprocessors
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What Emerging Trends Are Shaping The Electronic Shelf Label Market Landscape?
Innovative product development is becoming an increasingly popular trend within the electronic shelf label industry. Firms in this sector are leveraging ground-breaking solutions like large format displays to maintain their competitive edge. An example of this is Ynvisible Interactive Inc., a printed e-paper display manufacturer based in Canada, who in January 2023 launched their Large Format Electronic Shelf Label Display. This novel display, primarily designed for grocery store retailers, provides an effortless solution for presenting basic goods data and prices. Through its substantial format, the Electronic Shelf Label Display offers customers a straightforward and enticing method of obtaining key product details. The Large Format Electronic Shelf Label Display possesses several unique selling propositions, including an up to 80% cost reduction compared to rival reflective display technologies, highly customizable options with no minimum order requirement, extreme low power usage, and a robust design capable of enduring the daily demands of a grocery store setting.
Who Are the Key Players In The Electronic Shelf Label Market?
Major companies operating in the electronic shelf label market include:
• SES-imagotag
• Pricer AB
• E Ink Holdings Inc.
• Displaydata Limited
• Solum ESL
• Opticon Sensors Europe B.V.
• Teraoka Seiko Co Ltd.
• MinewTag
• Panasonic Holdings Corporation
• NCR Corporation
• LG Innotek Co. Ltd.
• CLEARink Displays Inc.
• Shanghai SUNMI Technology Co. Ltd.
• troniTAG GmbH
• Samsung Electro-Mechanics Co. Ltd.
• Altierre Corporation
• AdvanTech Inc.
• Display Solutions AG
• Hanshow Technology
• Pervasive Displays Inc.
• SoluM Co. Ltd.
What Are The Regional Insights Into The Electronic Shelf Label Market?
Europe was the largest region in the electronic shelf label market in 2024. The regions covered in the electronic shelf label market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
