Electronic Shelf Label Market Size Share Report Industry Analysis 2024 -2031

Market Overview :

Product launches and government initiatives aimed at promoting the adoption of new technologies in the retail sector are contributing to the market growth of the ESL market. As the retail industry continues to evolve, the adoption of ESLs is likely to continue to grow, creating new market opportunities for retailers and technology providers alike.

As the retail industry continues to evolve, the adoption of new technologies such as ESLs is becoming increasingly important for retailers looking to remain competitive. The displays segment occupies almost 20-22% of the market share in the component segment of the global electronic shelf label market. Similarly, Asia-Pacific is the largest region in the market with over 30% of the market share in the regional segment.

Market Trends :

The global electronic shelf label (ESL) market has been growing at a significant pace in recent years and the main driver behind the market growth has been the increasing adoption of ESLs by retailers around the world. ESLs offer several benefits to retailers, including reduced labor costs, improved pricing accuracy and enhanced customer experience.

According to government statistics, the retail industry is a major contributor to the global economy, and it is expected to continue to grow in the coming years. In 2020, the global retail market was valued at over US$ 20 trillion and it is projected to reach US$ 31 trillion by 2025. Thus, the increasing demand for ESLs in the retail sector and the market opportunies are driven by the need for retailers to improve their operations and remain competitive in an increasingly crowded market.

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Market Segmentation :

The global electronic shelf label market is segmented based on product, component, store, communication technology and region.ESLs with high-quality displays are becoming increasingly popular among retailers as they offer a range of benefits such as improved store operations, enhanced customer experience, and increased sales. In the Asia Pacific region, the ESL market is expected to witness significant growth in the coming years, driven by the increasing adoption of ESLs by retailers in the region. For instance, in 2020, Samsung SDS launched its Nexshop ESL solution, which includes ESLs with e-paper displays, a cloud-based management platform and an AI-based recommendation engine.

The solution is aimed at helping retailers in the Asia Pacific region enhance the in-store customer experience and increase sales. Overall, the growth of the displays segment in the global ESL market is expected to be driven by several factors, including the increasing adoption of ESLs by retailers, the demand for high-quality displays that can enhance the in-store customer experience and the need for ESLs that can improve store operations and increase sales.

Geographical Share :

The Asia-Pacific region has emerged as a key growth market for electronic shelf labels (ESLs) in recent years. The region's large and growing population, rising disposable incomes, and increasing adoption of digital technologies have all contributed to the growth of the ESL market in Asia-Pacific.

According to data from the Asia-Pacific Economic Cooperation (APEC), the region's retail industry has been growing at an average rate of 5.6% per year, with China and India being the fastest-growing markets.

The respective growth has been driven by increasing consumer spending, rising urbanization, and the expansion of e-commerce platforms. In response to these trends, many retailers in Asia-Pacific are adopting ESLs to improve their store operations and enhance the customer experience. As a result, the demand for electronic shelf labels (ESLs) in Asia-Pacific is witnessing a significant rise thus boosting the market share of the region.

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Competitive Landscape

The major global players include Ses-Imagotag, Pricer, Samsung Electro-Mechanics, E Ink Holdings, Display data, M2 Communication, Diebold Nixdorf, Opticon Sensors Europe, Teraoka Seiko and NZ Electronic Shelf Labelling.

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