Global Electronic Shelf Label (ESL) Market Set to Soar: Projected to Reach $3.29 Billion by 2028 with Impressive 16.84% CAGR – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Electronic Shelf Label Market – Global Outlook & Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global electronic shelf label (ESL) market is poised to reach $3.29 billion in 2028 from $1.29 billion in 2023 experiencing at a robust Compound Annual Growth Rate (CAGR) of 16.84%.
Market Trends & Drivers
Automation and digitalization are transforming the retail industry, offering enhanced shopper experiences. Retail automation is gaining traction, contributing to effective store management and maintenance. ESLs, a crucial aspect of retail automation, have witnessed advancements from new entrants alongside market leaders like SES-imagotag and Pricer. The latest generation of e-paper technology has revolutionized ESLs, boosting overall effectiveness and customer satisfaction.
Operational Efficiency and Profitability
The adoption of ESLs supports customer-centric retail features such as click and collect, scan and go, and in-store pickup. Retailers are increasingly leveraging digital technologies like ESLs to streamline operations and enhance the shopping journey for consumers.
Industry Restraints
Despite the growing trend of retail automation and IoT integration, the high initial investment costs hinder the growth of the electronic shelf label market, particularly in price-sensitive markets like APAC and Latin America. Small and medium-scale retail establishments are concerned about Return on Investment (ROI) and require more clarity on uncertain business models.
Segmentation Insights
Insights by Technology
- RFID
- NFC
- BLE
- IR
- Others
Insights by End-User
- Supermarkets & Hypermarkets
- Convenience Stores
- Departmental Stores
- Drug Stores
- Others
Insights by Product
- E-paper
- Segmented E-paper
- Fully Graphic E-paper
- LCD
Insights by Display Size
- Less than 3 Inches
- 3 to 7 Inches
- 7 to 10 Inches
- More than 10 Inches
Insights by Component
- Displays
- Batteries
- Transceiver
- Microprocessors
- Others
Geographical Analysis
The ESL market is highly concentrated in developed nations, while developing regions like APAC and Latin America are witnessing rapid growth. Europe leads due to the presence of global vendors like Pricer and SES-imagotag. Europe is expected to maintain its leadership position due to consumer demands and regional trends. North America, APAC, and Latin America are also witnessing ESL market growth.
Competitive Landscape
Prominent Players:
- Pricer
- SES-imagotag
- Displaydata
- Hanshow Technology
- Opticon
Other Notable Vendors:
- DIGI
- E INK HOLDINGS
- CEST
- LG Innotek
- Pervasive Displays
- Dana Industries
- ifLabel
- Ubiik
- Huawei
- TroniTAG
- SUNPAI INDUSTRIES
- Diebold Nixdorf
- M2COMM
- Herbert Retail
- Solum
- Zkong
- RAINUS
- MariElla Labels
Key Questions Addressed
- What is the projected size of the electronic shelf label market?
- What growth rate is expected for the global electronic shelf label market?
- What are the emerging trends in the electronic shelf label market?
- Which region dominates the global electronic shelf label market?
- Who are the key players in the global electronic shelf label market?
Market Dynamics
Opportunities & Trends
- Increase in Retail Automation
- Demand for E-paper Technology
- Increased Innovations & Development
Growth Enablers
- Operational Efficiency & Profitability
- Growth of NFC Technology
- Growth of Organized Retail Sector
- Development of ESL in 5G Era
Restraints
- High Initial Investments
- Low-Cost Labor in Growing Economies
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 434 |
| Forecast Period | 2023 – 2028 |
| Estimated Market Value (USD) in 2023 | $1.29 Billion |
| Forecasted Market Value (USD) by 2028 | $3.29 Billion |
| Compound Annual Growth Rate | 16.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/bvt6o
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