Electronic Shelf Label (ESLS) Market Size to grow by USD 1641 million between 2024-2028
According to a research report “ Electronic Shelf Label (ESLS) Market” by 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, Drug stores and others) Geography (Europe, APAC, North America, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1641 million, at a CAGR of 15.69% during the forecast period. In the intensifying retail landscape, brick-and-mortar stores are responding to online competition by offering competitive pricing and instant product trials. To enhance in-store shopping experience and maintain price parity with e-commerce platforms, Electronic Shelf Labels (ESLs) are being adopted. These advanced labels establish wireless connectivity with central systems such as ERP and POS, enabling real-time updates of product information and pricing across the store network. Utilizing technologies like Bluetooth, Wi-Fi, Zigbee, NFC, and RFID, ESLs ensure seamless data transmission for an efficient and dynamic pricing strategy..
Browse market data tables, figures, and in-depth TOC on “Electronic Shelf Label (ESLS) Market” by 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, Drug stores and others) Geography (Europe, APAC, North America, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Technology, the Radio frequency segment is projected to dominate the market size in 2024
Radio frequency (RF) technology, which operates on the electromagnetic spectrum between 3 kHz and 300 GHz, is a significant innovation in electronic shelf labeling (ESL) systems. This wireless communication technology enables automatic scanning, identification, and tracking of RF-tagged products without requiring line-of-sight. The absence of this requirement reduces infrastructure costs and ensures uninterrupted information transfer. RF signals are not obstructed by human beings or common materials such as paper, rubber, or copper, making it a reliable choice for ESL applications.
By Product, LCD ESL segment is expected to hold the largest market size for the year 2024
In the dynamic world of Electronic Shelf Labeling (ESL) systems, Liquid Crystal Display (LCD) panels have gained significant traction due to their energy efficiency, superior image quality, swift response time, and visually appealing design. With a battery life of up to 10 years, LCD ESLs have become the preferred choice for retailers. Vendors are capitalizing on this trend by expanding their product portfolios, such as Altierre's Anima range of ePaper ESLs, including Anima eTag 150, Anima eTag 250, and Anima eTag 400. These advanced LCD ESLs offer on-screen animation and updates, enhancing the shopping experience with promotional messages, while maintaining a battery life of up to 4 years.
Europe is forecasted to hold the largest market size by region in 2024
The Electronic Shelf Labeling (ESL) market is experiencing significant growth due to the increasing adoption of advanced technology in retail. ESL systems enable real-time price changes and inventory management, enhancing operational efficiency and customer experience. Major retailers are investing in ESL solutions to stay competitive and streamline their operations, making this market a lucrative opportunity for technology providers.
The Electronic Shelf Label (ESLS) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Electronic Shelf Label (ESL) market is experiencing a surge in digitalization due to the proliferation of technologies such as connectivity technologies, battery-powered displays, and communication technology. ESLs, also known as digital price tags, offer real-time inventory status, promotions, and special offers, enhancing the shopping experience and improving brand loyalty. Traditional paper labels are being replaced with these advanced product shelf labels to eliminate inaccurate pricing and automate stores. Retailers in various store types, from supermarkets to emerging economies, are adopting ESLs to stay competitive in the retail sector. SES-imagotag, a leading player in the ESL market, provides solutions for retail automation using 5G technology to ensure seamless connectivity. The ESL market dynamics are driven by the need for automation, support infrastructure, and installation expenses. The market is expected to grow significantly as retailers continue to digitalize their operations and offer personalized shopping experiences.
Market Research Overview
The Electronic Shelf Label (ESL) market is witnessing significant growth due to the surge in digitalization and automation in stores. Smart retail standards, such as real-time inventory management and accurate product information, are driving the demand for ESLs. Key Performance Indicators (KPIs) like employee job satisfaction and efficient use of staff resources are also improved with ESL deployments. Vendors like Hanshow Technology and SES-imagotag have signed Master Framework Agreements with retailers like Carrefour for ESL solutions. These pilots and proof of concept projects are proving to be win-win solutions, providing regulatory support and market dominance for vendors while enhancing brand loyalty and product shelf labeling accuracy for retailers. ESLs offer features like Quick Responsecodes, Near Field Communication, and Mobile payment facilitation, making them ideal for e-commerce and replenishment applications. Traditional paper labels are being replaced by battery-powered ESL devices, which provide product details, inventory status, promotions, and special offers in real-time. Connectivity technologies like Bluetooth, Radio Frequency, and NFC are used in ESLs, making them compatible with various store networks and enabling seamless communication between devices. The market dynamics of the ESL market are influenced by retail sector opportunities, ROI, retail automation solutions, and emerging economies. Market regulations and production analysis are also crucial factors impacting the ESL market. Legacy ESL solutions are being upgraded with advanced features like 5G and automation to meet the evolving needs of the retail sector. Overall, the ESL market is expected to continue its growth trajectory, offering significant opportunities for retailers and vendors alike.
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