Electronic Shelf Label Market Growth, Size, Industry Report 2023-2032
Electronic Shelf Label Market Growth, Size, Industry Report 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

  • Published Date:Oct-2023
  • Pages: 116
  • Format: PDF
  • Report ID: PM3861
  • Base Year: 2022
  • Historical Data: 2019-2021

Report Summary

The global electronic shelf label market was valued at USD 978 million in 2022 and is expected to grow at a CAGR of 16.3% during the forecast period.

The growing trend of consumers turning to e-commerce platforms has compelled retailers to enhance the in-store experience for customers through the adoption of interactive and budget-friendly solutions like electronic shelf labels (ESLs). These ESLs have the potential to create personalized experiences that many consumers highly value. Their capacity to swiftly adjust prices in real-time and execute promotional strategies throughout the store is expected to be a significant driver of growth in the ESL market.

Electronic Shelf Label Market Size

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  • For instance, SOLUM, a trailblazer in Electronic Shelf Labels (ESL), has introduced Newton TOUCH, a comprehensive LCD signage solution. This innovative offering by SOLUM provides companies with a more dynamic and captivating means to promote their products, enhancing the consumer experience and contributing to improved business outcomes.

The electronic shelf label market is poised for substantial growth, thanks to the expanding Internet of Things (IoT). IoT encompasses a wide array of components, including sensors, actuators, electronic and software systems, as well as various communication technologies with diverse standards and applications. IoT technology facilitates the seamless interconnection of multiple devices, enabling efficient centralized management through a server. This interconnected ecosystem presents promising opportunities for the electronic shelf-label market's expansion.

Several macroeconomic factors, including rising urbanization, increased GDP per capita, and overall economic growth, exhibit a clear and direct correlation with the sales of goods and commodities. This connection is expected to drive the demand for electronic shelf labels. Furthermore, the expansion of infrastructures holds the potential to open up new growth opportunities for electronic shelf label manufacturers in the foreseeable future. Furthermore, the growing preference for minimally invasive surgeries (MIS) is anticipated to drive the adoption of Electronic Shelf Label s in the forecast period. Due to higher patient satisfaction, MIS procedures offer advantages, such as smaller incisions. These procedures also result in shorter hospital stays and faster recovery times.

As per the International Labor Organization, the extensive retail industry, with a valuation in the trillions of dollars, is anticipated to sustain robust growth in the years ahead. This projection is poised to create promising opportunities for electronic shelf label manufacturers during the evaluation period, consequently bolstering market expansion.

Industry Dynamics

Growth Drivers

Rising Need for Inventory Management Enhanced by ESL to Drive Expansion

The escalating complexities of overseeing extensive warehouses and retail establishments are driving the demand for intelligent inventory management solutions. Electronic Shelf Labels (ESL) emerge as a promising solution to address the prevalent issue of out-of-stock occurrences in the retail sector. According to an analysis by the Institute of Grocery Distribution and IGD Services, the industry-wide out-of-stock rate stands at approximately 4.5%. The incorporation of advanced ESLs, in conjunction with consumers' smartphones and advanced analytics, is poised to enhance the efficiency of smart inventory management processes. Additionally, the growing adoption of vendor-managed inventory (VMI) and stock-keeping units (SKU) is likely to unveil fresh opportunities for industry participants.

Report Segmentation

The market is primarily segmented based on product, component, display size, communication technology, component and region.

By Product

By Component

By Display Size

By Communication Technology

By Store Type

By Region

  • LCD
  • Segmented E-Paper
  • Full-Graphic E-Paper
  • Microprocessors
  • Batteries
  • Transceiver
  • Displays
  • Others
  • Less than 3 inch
  • 3 inch to 7 inch
  • 7 inch to 10 inch
  • More than 10 inch
  • Near Field Communication (NFC)
  • Infrared
  • Radio Frequency
  • Others
  • Supermarkets
  • Hypermarkets
  • Specialty Stores
  • Non-Food Retail Stores
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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By Product Analysis

The LCD segment held the largest revenue share in 2022

The conventional electronic shelf employed power-intensive liquid crystal displays (LCDs). The utilization of these displays in ESL represents a recent trend in the display market. Furthermore, e-paper-based ESLs are now incorporating additional color patterns and features, a development that is contributing to the growth of this segment.

The segmented e-paper sector ranks as the second-largest segment. In the current landscape, key focus areas include the promotion of digitalization to reduce paper consumption, which in turn helps conserve trees, reduces water usage in paper manufacturing, minimizes power consumption, and enhances infrastructure cost-effectiveness. Electronic paper display technology plays a vital role in achieving these objectives, as it significantly saves energy, consuming only about 1% of the power compared to LCDs. This energy-efficient feature is particularly beneficial in applications like signage, where content changes periodically, rather than constantly. Moreover, substantial power savings are attainable in enterprise and retail applications through the adoption of e-paper displays. Therefore, the growing use of segmented electronic paper displays, driven by their energy-saving capabilities, spurs demand for electronic shelf labels, offering substantial opportunities for the future.

By Display Size Analysis

The less than 3-inch segment accounted for the highest market share during the forecast period

The segment featuring electronic shelf labels with sizes less than 3 inches was the most significant market contributor and is expected to experience a robust CAGR during the forecast period. These smaller labels are notably favored by the apparel industry due to their compact and lightweight design, making them easily attachable to products and labels, thanks to their convenient size.

The 3-inch to 7-inch segment holds the second-largest market share. Electronic shelf labels within the 3 to 7-inch size range occupy a significant portion of the market because they are versatile and suitable for a wide range of products, allowing for brief product descriptions. These labels are employed for various items, including food products, groceries, stationery, and other household essentials. Their adoption is on the rise due to the efficiency they offer, requiring fewer resources and less time for displaying dynamic prices.

By Store Type Analysis

The Hypermarket segment accounted for the highest market share during the forecast period

The hypermarket sector led the market, with an anticipated substantial CAGR during the forecast period. The growing adoption of digital technologies in hypermarkets plays a pivotal role in providing consumers with enhanced in-store navigation and is a key driver of global market growth. Furthermore, hypermarkets are embracing automation solutions to offer consumers an Omni-commerce experience, which is expected to further enhance customer assistance at an elevated rate.

The supermarket sector holds the second-largest position. The emergence of the Internet of Things (IoT) has catalyzed the expansion of automation in the retail sector. Supermarkets are experiencing a notable surge in the adoption of automation technologies and advanced consumer electronics, which is anticipated to be a pivotal driver of market growth in the forecast period. Additionally, the increased adoption of enhanced digital shelving systems by supermarkets is driven by their capacity to display promotions, dietary information, and other pertinent data.

Regional Insights

Europe dominated the largest market in 2022

Europe has taken the lead in revenue generation and is poised to undergo a significant CAGR. The European Commission has proactively implemented consumer protection cooperation regulations with the primary aim of shielding consumers from fraudulent activities, misleading product information, and pricing inconsistencies. Moreover, key players in the retail sector are actively embracing cutting-edge technologies to meet the rigorous requirements of these regulations. For instance, Pricer, headquartered in Sweden, Europe, has launched an electronic shelf system as part of its compliance efforts.

North America ranks as the second largest region and stands out as a key player in technology-driven markets. With its rapid adoption of technological advancements, North America has prominently featured the application of electronic paper display products in its major markets. Additionally, the ongoing industrial revolution in this region has resulted in substantial data-driven capabilities applied to production processes in supply chain management. This, in turn, opens up significant potential for the electronic shelf label market.

The Asia-Pacific region is experiencing significant growth in full graphic e-paper technology, primarily driven by the increased adoption of display technology products in the retail sector. This adoption is resulting in an enhanced customer experience. Moreover, the presence of retail industry giants, heightened customer interest, and ready access to processing machinery are additional factors contributing to the growth of the electronic shelf-label market in Asia-Pacific. Additionally, non-food retail stores are gaining popularity and creating opportunities in this region, which further propels the growth of the electronic shelf-label market during the forecast period.

Key Market Players & Competitive Insights

The market is characterized by intense competition, with established players relying on advanced technology, high-quality products, and a strong brand image to drive revenue growth. These companies employ various strategies such as research and development, mergers and acquisitions, and technological innovations to expand their product portfolios and maintain a competitive edge in the market.

Some of the major players operating in the global market include:

  • Altieer Corporation
  • Clearing Display
  • Diebold Nixdorf
  • Displaydata Limited
  • E Ink Holdings
  • Incorporation
  • NCR Corporation.
  • Panasonic Corporation
  • Pricer
  • Samsung Electro-Mechanics
  • SES-imagotag

Recent Developments

  • In August 2022, TECHNOPOLIS, Bulgaria's foremost electrical retailer, has introduced an Electronic Shelf Label (ESL) solution from Pricer, a globally trusted provider of ESLs. This implementation comes after a successful pilot phase and aims to bring digital automation to pricing and promotions within the store estate. This move is anticipated to enhance operational efficiency and elevate the customer experience, especially in preparation for peak trading periods.
  • In August 2022, Federated Co-operatives Ltd. (FCL), a  Canadian retailer and the largest global provider of digital solutions for brick-and-mortar retail, has officially unveiled a significant expansion initiative encompassing 120 stores. This expansion, scheduled for early 2023, will build upon the existing deployment of the VISION IoT cloud platform in 30 stores. FCL's expertise enables retailers to efficiently oversee, monitor, and execute large-scale price adjustments and markdowns
  • In June 2023, Pricer, a top-tier in-store communications company and the foremost market leader in delivering Electronic Shelf Label (ESL) solutions is set to present its cutting-edge technologies at Shoptalk Europe. These innovations are designed to enhance in-store operational efficiency and elevate the overall customer experience (CX).

Electronic Shelf Label Market Report Scope

Report Attributes


Market size value in 2023

USD 978 million

Revenue forecast in 2032

USD 4413.92 million


16.3% from 2023 – 2032

Base year


Historical data

2019 – 2021

Forecast period

2023 – 2032

Quantitative units

Revenue in USD million and CAGR from 2023 to 2032

Segments Covered

By Product, By Component, By Display size, By Communication technology, By Component, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa


Report customization as per your requirements with respect to countries, region and segmentation.