Electronic Shelf Label Market Share, Size, Trends, Industry Analysis Report, By Product (LCD, Segmented E-Paper, and Full-Graphic E-Paper); By Component; By Display Size; By Communication Technology; By Store Type; By Region; Segment Forecast, 2023 - 2032

Electronic Shelf Label Market Share, Size, Trends, Industry Analysis Report, By Product (LCD, Segmented E-Paper, and Full-Graphic E-Paper); By Component; By Display Size; By Communication Technology; By Store Type; By Region; Segment Forecast, 2023 - 2032

The global electronic shelf label market size is expected to reach USD 4413.92 million by 2032, according to a new study by Polaris Market Research. The report “Electronic Shelf Label Market Share, Size, Trends, Industry Analysis Report, By Product (LCD, Segmented E-Paper, and Full-Graphic E-Paper); By Component; By Display Size; By Communication Technology; By Store Type; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global surge in digital transformation across industries is a driving force behind economic growth, as it introduces revolutionary changes in business operations. Furthermore, the automation of retail is poised to play a pivotal role in reshaping economic growth, thanks to factors like increased consumer purchasing power, enhanced retail supply chain efficiency, and intelligent logistics management. Additionally, the pursuit of improved customer experiences is fueling the adoption of technological innovations in the retail sector, collectively contributing to the growth of the electronic shelf label market.

Electronic shelf label technology offers substantial potential, and as it continues to mature, it stands poised to transform the retail industry. E-Paper, far from being confined to electronic shelf labels, extends its applications to diverse fields like smartwatches, wearable electronics, digital signboards, flexible displays within smart cards, and status indicators on electronic devices. Its adaptability allows for labeling an extensive array of items, from shelves and office binders to electronic billboards, offering innovative solutions for food and pharmaceutical product labeling.

The COVID-19 outbreak disrupted the production capacity of electronic shelf label manufacturers in the first quarter of 2020, primarily due to global government-imposed measures to mitigate the pandemic's risks. As a result, the global market is expected to show steady growth. Major market players such as SES-imagotag and E-Ink Holdings experienced a slowdown in sales operations during this period. The restrictions on transport and the temporary closure of manufacturing plants due to workforce shortages have affected production capacity. Additionally, government-imposed lockdown measures led to the closure of retail stores, resulting in an unprecedented surge in e-commerce adoption and a decline in physical sales.

Additionally, a study published in the National Library of Medicine in June 2021 highlighted the significant impact of coronary artery disease (CAD) on global health. CAD alone is responsible for approximately 610,000 deaths annually, accounting for an estimated one in four deaths and making it the foremost cause of mortality in the United States. With the incidence of CAD rising, there is a growing demand for effective Electronic Shelf Label devices to address this pressing medical need. Consequently, this factor is projected to drive the demand for Electronic Shelf Label s throughout the forecast period.

Electronic Shelf Label Market Report Highlights

In 2022, the LCD segment dominated the market in terms of revenue, Traditional electronic shelves relied on power-intensive liquid crystal displays (LCDs). The inclusion of these displays in ESLs is a recent trend within the display market. Moreover, e-paper-based ESLs are integrating extra color patterns and features, further fueling the growth of this particular segment.

During the forecast period, the segment for labels with sizes less than 3 inches claimed the largest market share. Within this segment, electronic shelf labels measuring less than 3 inches have emerged as the primary market driver, expected to maintain a robust CAGR throughout the forecast period. These compact and lightweight labels are particularly popular within the apparel industry, as their size and design facilitate easy attachment to products and labels.

The hypermarket sector took the market lead, projecting a significant CAGR during the forecast period. The increasing integration of digital technologies within hypermarkets significantly improves in-store navigation, playing a pivotal role in propelling global market growth. Additionally, the adoption of automation solutions in hypermarkets enhances the Omni-commerce experience for consumers, expected to further elevate customer assistance to a higher level.

Europe has assumed the forefront in revenue generation and is set to experience a substantial CAGR. The European Commission has taken proactive steps in implementing consumer protection cooperation regulations, primarily focused on safeguarding consumers from fraud, deceptive product information, and pricing disparities. Additionally, major players in the retail industry are proactively adopting state-of-the-art technologies to meet the stringent demands of these regulations.

The global key market players include Altieer Corporation, Clearing Display, Diebold Nixdorf, Displaydata Limited, E Ink Holdings, Incorporation, NCR Corporation, Panasonic Corporation, Pricer, Samsung Electro-Mechanics, SES-imagotag

Polaris Market Research has segmented the Electronic Shelf Label market report based on product, component, display size, communication technology, store type and region:

Electronic Shelf Label, Product Outlook (Revenue - USD Million, 2019 - 2032)

LCD

Segmented E-Paper

Full-Graphic E-Paper

Electronic Shelf Label, Component Outlook (Revenue - USD Million, 2019 - 2032)

Microprocessors

Batteries

Transceiver

Displays

Others

Electronic Shelf Label, Display Size Outlook (Revenue - USD Million, 2019 - 2032)

Less than 3 inch

3 inch to 7 inch

7 inch to 10 inch

More than 10 inch

Electronic Shelf Label, Communication Technology Outlook (Revenue - USD Million, 2019 - 2032)

Near Field Communication (NFC)

Infrared

Radio Frequency

Others

Electronic Shelf Label, Store Type Outlook (Revenue - USD Million, 2019 - 2032)

Supermarkets

Hypermarkets

Specialty Stores

Non-Food Retail Stores

Others

Electronic Shelf Label, Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa