Electronic Shelf Label (ESL) Market 2023 | Size to Hit US$ 2,354 Million at CAGR of 18% by 2028 | IMARC Group

According to the latest report by IMARC Group, titled "Electronic Shelf Label (ESL) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global electronic shelf label market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global electronic shelf label market size reached US$ 876 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,354 Million by 2028, exhibiting a growth rate (CAGR) of 18% during 2023-2028.

Electronic Shelf Label (ESL) is a digital display used in retail stores to display product information on store shelves, such as price, product description, and stock availability. It offers a flexible and cost-effective alternative to traditional paper labels and allows retailers to update pricing and other information in real-time. It can be integrated with inventory management systems, allowing for more efficient tracking and restocking of products. It offers several benefits, including real-time updates, increased accuracy, cost savings, improved customer experience, efficiency, and environmental benefits.

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Market Trends and Drivers:

The global market is majorly driven by the increasing demand for digital signage solutions in the retail industry. In line with this, the rising demand for efficient and cost-effective pricing solutions is significantly contributing to market growth. Furthermore, the improved efficiency and time savings offered by ESL compared to traditional paper labels are positively influencing the market. The stringent environmental regulations concerning the use of paper and the emerging trend of retail automation are creating a positive outlook for the market. Apart from this, the introduction of E-paper electronic shelf labels is catalyzing the market. Moreover, the growing proliferation of the Internet of Things (IoT) across developed and emerging economies around the world is offering lucrative opportunities for market expansion.

The rapid adoption of IoT-enabled ESL to synchronize product prices on e-commerce platforms with physical stores is propelling the market. Besides, the escalating competition among retailers to provide elevated customer experience and the increasing utilization of ESL in industrial applications are strengthening the market. Additionally, the rising popularity of NFC-based devices is providing a boost to the market. Other factors driving the market growth include the rapid adoption of advanced labeling techniques, expanding retail sector, new product launches, and the growing initiatives of the market players to offer smart shelf labels.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Altierre Corporation
• Diebold Nixdorf, Incorporated
• DIGI System Gurgaon Pvt. Ltd.
• Displaydata Limited
• LG CNS
• M2Communications D.O.O.
• Panasonic Corporation
• Pricer AB
• Samsung Group
• SES-imagotag SA

Key Market Segmentation:

Breakup by Type:

• Liquid Crystal Display (LCD)
• Full Graphic E-Paper
• Segmented E-Paper
• Others

Breakup by Component:

• Hardware
• Software

Breakup by Technology:

• Radiofrequency
• Infrared
• NFC
• Others

Breakup by Application:

• Supermarkets & Hypermarkets
• Convenience Stores
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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