Latest News- Electronic Shelf Label (ESLs) Market: Radio frequency is expected to lead the Technology segment during 2025-2029

The Electronic Shelf Label (ESLs) Market is being driven by Implementation of in-store technologies

The Electronic Shelf Label (ESLs) Market is expected to grow at a CAGR of 17.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2090.6 million. The global Electronic Shelf Label (ESL) market is experiencing significant growth, prompting companies to invest in product innovation and introduce smart ESLs to capitalize on this market expansion. Strategic partnerships and alliances are a key focus area for businesses, enabling them to expand their offerings through collaborations with technology providers, software developers, distributors, and other market participants. For instance, in 2023, Qualcomm Technologies, Inc. and SES-imagotag joined forces to develop advanced ESL technology based on the Bluetooth Special Interest Group (SIG) ESL wireless standards. These collaborations not only bolster companies' product portfolios but also broaden their reach in various geographies and enhance their market share. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Technology
  • Radio frequency
  • Infrared
  • Others
• Product
  • LCD ESL
  • Full graphic e-paper ESL
  • Segmented e-paper ESL
• End-user
  • Supermarkets and hypermarkets
  • Convenience stores/department stores/mass merchants
  • Others
• Display Size
  • Less than 3 inches
  • 3 To 7 inches
  • 7 To 10 inches
  • More than 10 inches
• Component
  • Displays
  • Batteries
  • Microprocessors
  • Transceivers
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Implementation of in-store technologies
• Development of IoT ecosystem
• Rising number of retail outlets

However, the market also witnesses some limitations, which are as follows:

• Growth in e-commerce industry
• High capital requirement for implementation of ESLs and supporting infrastructure
• Lack of awareness about benefits of ESL

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Market Scope in Electronic Shelf Label (ESLs) Market Research Report

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Research Analysis Overview

The Electronic Shelf Label (ESL) market is witnessing significant growth in the retail sector due to the surge in digitalization and automation. Retailers in various store types are adopting ESLs as part of Retail Industry 4.0 to enhance operational efficiency and improve brand loyalty. ESLs, which replace traditional paper labels, use connectivity technologies like 5G and communication technology to provide real-time pricing and special offers. ESLs are particularly beneficial for supermarkets and retailers in emerging economies, where manual pricing and labeling can be inaccurate and time-consuming. ESLs come in various forms, including battery-powered displays and e-paper, and support retail automation through automated pricing systems and cloud-based management. The market is expected to continue growing, driven by the proliferation of technologies like 5G and the increasing adoption of smart retail technology. ESL manufacturers are innovating to meet the evolving needs of retailers, offering solutions for automated pricing, promotions, and real-time inventory management. The ESL market trends also include the integration of ESLs with other retail technologies like RFID and IoT to create a seamless shopping experience for customers.

Market Research Overview

The retail sector is experiencing significant transformation through automation, with Electronic Shelf Labels (ESLs) playing a pivotal role. The ESL market dynamics are influenced by the implementation of 5G technology, enabling real-time price updates and inventory management. Retailers are increasingly adopting ESLs to enhance operational efficiency and provide a seamless shopping experience. However, installation expenses and supporting infrastructure requirements are key considerations for retailers before investing in ESLs. The global electronic equipment and instruments market, which includes ESLs, is projected to grow due to the rising demand for advanced test and measurement equipment, driven by technological advancements and digital transformation across various industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/