Electronic Shelf Labels Market Is Estimated To Witness High Growth...

Electronic Shelf Labels Market Is Estimated To Witness High Growth

Posted 2023-10-30 10:00:42

The Electronic Shelf Labels Market is estimated to be valued at US$ 1,025.4 Mn in 2022 and is expected to exhibit a CAGR of 16.06 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Electronic shelf labels (ESL) are displays that are attached to shelves in retail stores to display product and pricing information. ESLs receive pricing and product information wirelessly from a central server and dynamically update themselves without the need for expensive relabeling. They provide various benefits such as flexibility in price changes, reduced labor costs, and improved inventory management to retailers.

Key Takeaways

The electronic shelf labels market is expected to witness high growth, exhibiting a CAGR of 16.06% over the forecast period, due to increasing focus of retailers on providing seamless shopping experience to customers.

Regional analysis: North America dominates the global electronic shelf labels market, holding more than 30% of the overall market share in 2022. This is attributed to high technology adoption rate and presence of major retailers in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period due to rising retail automation in countries such as China and India.