Electronic Shelf Label Market Size, Share And Trends Analysis Report
The global electronic shelf label market size was estimated at USD 1,485.10 million in 2023 and is expected to grow at a CAGR of 15.8% from 2024 to 2030. Electronic shelf labels (ESLs) are digital display systems that help retailers manage and update product pricing, information, and promotions in real-time. The growing adoption of digital technology in the retail industry to replace traditional paper labels on store shelves is expected to contribute to market growth. Automation is a growing trend in the U.S. retail sector. Retailers are focusing on improving overall customer experience & operational efficiency and streamlining inventory management. In March 2021, Walmart implemented a full automation solution to its Fulfillment Centers (FCs) and Distribution Centers (DCs) in Walmart DC in Cleburne, Texas.
In April 2023, Walmart announced its plan to make 65% of its stores to be fully automated by the end of 2026. In line with this development in May 2023, Walmart announced plans to adopt ESLs for its 500 stores within the next 18 months, which can support the market growth. According to a research paper released by the United States Postal Service Office of Inspector General in April 2023, the supply of paper products has fluctuated greatly. According to data provided by the Pulp and Paper Products Council (PPPC), North American printing and writing mills ran at 77% capacity in August 2023 compared to the same in 2022. Paper mills' reduction of production capacity resulted in increased prices of paper, which affected its derivate product supply.
Gather more insights about the market drivers, restrains and growth of the Electronic Shelf Label Market
Key Electronic Shelf Label Company Insights
This market exhibits consolidation as well as fragmentation characteristics with major players having a significant global presence. There are also regional players catering to specific countries or regions. These companies often have a wide range of products, extensive customer bases, and a strong market share. New product launches and collaboration with end users are key initiatives undertaken by market players.
• In September 2023, Shenzhen Minew Technologies Co., Ltd in strategic collaboration with Nordic Design Partner launched Minew’s STag58P, an electronic shelf label for medical, warehousing, smart office, and retail applications. This new product uses Bluetooth 5.4 nRF52833 SoC that allows the pricing of thousands of products to be updated simultaneously
• In January 2023, VusionGroup previously known as SES-imagotag group entered into acquisition discussions with France-based data analytics company, In the Memory. With this acquisition, VusionGroup can improve its data management capabilities
Global Electronic Shelf Label Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the electronic shelf label market report on the basis of component, type, communication technology, size, application, and region:
Component Outlook (Revenue, USD Million, 2018 - 2030)
• Displays
• Batteries
• Transceivers
• Microprocessors
• Others
Type Outlook (Revenue, USD Million, 2018 - 2030)
• LCDs
• E-paper Displays
• Graphic E-paper Displays
Communication Technology Outlook (Revenue, USD Million, 2018 - 2030)
• Radio Frequency
• Infrared
• Near-field Communications
• Others
Size Outlook (Revenue, USD Million, 2018 - 2030)
• ≤ 3 Inches
• 3 to 7 Inches
• 7 to 10 Inches
• ≥ 10 Inches
Application Outlook (Revenue, USD Million, 2018 - 2030)
• Retail
• Industrial
Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Spain
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
o Southeast Asia
• Central & South America
o Brazil
o Argentina
• Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
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