Global Electronic Shelf Label Market Report and Forecast 2024-2032

Global Electronic Shelf Label Market Outlook

The global electronic shelf label market reached a value of about USD 1.33  billion in 2023. The market is further estimated to grow at a CAGR of 21.4% in the forecast period of 2024-2032 to reach a value of around USD 7.59 billion by 2032.

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Rising Demand for E-Papers to Propel the Market Growth of Electronic Shelf Label

Based on product, the demand for e-papers, owing to their exceptional benefits, has been increasing significantly. E-paper is being increasingly used in low-frequency switching displays such as electronic shelf labels because it offers a low-power paper-like display and ensures an ultra-long battery life. E-paper displays possess image memory and do not require power to maintain the display; they mostly need power when there is a change in the display. They provide multiple advantages, like high reflectivity, high contrast, readability, and a wider viewing angle. Also, electronic paper is a cheaper alternative to traditional paper label methods. The initiatives taken by market players to offer smart shelf labels are accelerating the market development. The increasing acceptance of e-paper in the expanding retail sector over traditional LCD screens for better reading experience as it reflects ambient light rather than emitting its own light is anticipated to stimulate the electronic shelf label market growth over the forecast period.

Market Segmentation

An electronic shelf label, also called a digital price tag, is a display system that is used by retailers to display the prices of products and other relevant information pertaining to the products.  It is attached to retail shelves and automatically updates the prices of goods through a local network, which enhances the customer experience.

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The market for electronic shelf label, by component, is divided into:

• Displays
• Batteries
• Transceivers
• Microprocessors
• Others

Based on product, the market is bifurcated into:

• Liquid Crystal Displays
• E-Paper
  • Graphic E-Paper
  • Segment E-Paper

On the basis of display size, the market is segmented into:

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

Based on communication technology, the market is classified into:

• Radio Frequency    
• Infrared
• Near-field Communication
• Others

On the basis of end use, the market is divided into:

• Hypermarkets
• Supermarkets
• Non-food Retail Stores
• Speciality Stores
• Others

The regional markets for electronic shelf label can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Adoption of Automation in the Retail Sector to Drive the Market Growth of Electronic Shelf Label

The rapid adoption of automation in the retail sector is leading to the rising use of electronic shelf labels in speciality stores, supermarkets, and others, which is driving the electronic shelf label market growth. The electronic shelf label enables the smooth functioning of retail stores by reducing pricing management labour costs, eliminating manual labour, lowering operational costs, and improving pricing accuracy. It helps implement dynamic pricing solutions, enabling the stores to boost their sales by keeping up with the latest market trends and raising product prices. The engaging displays of electronic shelf labels enable businesses to implement better advertising campaigns and connect with smart customers. Additionally, it also plays a critical role in providing an enhanced customer experience by informing stock levels, displaying online prices, enabling ordering with QR codes, and displaying the reviews of products. Further, electronic shelf labels significantly reduce the use of raw materials associated with traditional methods, such as by replacing the paper with digital technology. This makes it a sustainable option and is leading to its increased adoption due to rising eco-consciousness. Over the forecast period, the integration of advanced technology like the Internet of Things and cloud computing in the retail sector is expected to further augment the market growth.

Key Players in the Global Market for Electronic Shelf Label

The report gives a detailed analysis of the following key players in the global electronic shelf label market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• E Ink Holdings Inc.
• Pricer AB
• Displaydata Limited
• troniTAG GmbH
• SES-imagotag Group
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Electronic Shelf Label Market Report Snapshots

Electronic Shelf Label Market Size

Electronic Shelf Label Market Growth

Electronic Shelf Label Companies