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 the development of intelligent ESLs to capitalize on this market expansion. Strategic partnerships and alliances are a key focus for businesses, enabling them to broaden their product offerings and expand their geographic reach. For instance, in 2023, Qualcomm Technologies, Inc. and SES-imagotag joined forces to create new ESL technology based on the Bluetooth Special Interest Group (SIG) wireless standards. Such collaborations not only enhance companies' product portfolios but also bolster their market presence and competitiveness.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
261 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.2% |
Market growth 2025-2029 |
USD 2090.6 million |
Market structure |
fragmentation |
YoY growth 2024-2025(%) |
14.3 |
Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Egypt, Oman, Argentina, UAE, Brazil, US, UK, China, Germany, Japan, France, Italy, India, The Netherlands, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Electronic Shelf Label (ESL) market encompasses technologies such as remote content management, label management software, and ESL connectivity. Display technology includes color and brightness adjustment, while label durability, lifespan, and battery life are crucial factors. Design features include image display, data synchronization, and real-time updates. Centralized management offers centralized control, remote monitoring, and maintenance management. Data integration, API integration, and customizable labels cater to product lifecycle management and stock rotation. Promotional campaign management includes price change notifications, customer segmentation, targeted promotions, loyalty programs, and personalized shopping. Data privacy and security protocols ensure protection, while network infrastructure, installation services, training, and support complete the solution.
The Electronic Shelf Label (ESL) market is a significant segment within the broader global electronic equipment and instruments market. This market encompasses the production and sale of digital signage, price management systems, and shelf edge displays for retail automation and inventory management. According to Technavio, the global electronic equipment and instruments market size is determined by the revenue generated from the sales of associated Information and Communication Technology (ICT) and electronics products, equipment, and components. The growth of this market is driven by the increasing demand for electronic test and measurement equipment. Technological advancements and digital transformation in various industries, such as semiconductors, automotive, information technology, consumer electronics, industrial, energy, and medical devices, are fueling this demand. ESLs play a crucial role in enhancing retail operations by providing real-time price updates, inventory management, and targeted promotions, making them an essential investment for businesses seeking to optimize their operations and enhance the customer experience.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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