1 Global Electronic Shelf Label (ESL) Market Size (Value) and CAGR (2024-2033)
In 2024, the global Electronic Shelf Label (ESL) market was valued at USD 2071.88 million, with a CAGR of 22.3% from 2024 to 2033.
Electronic shelf label is a kind of electronic display device placed on the shelf, which can replace the traditional paper price label. Each electronic shelf label is connected with the computer database of the shopping mall through wired or wireless network, and the latest commodity price is displayed on the screen of the electronic shelf label. Electronic shelf labeling actually successfully integrates the shelf into a computer program, getting rid of the condition of manually changing the price tag, and realizing the price consistency between the cashier and the shelf.
Figure Global Electronic Shelf Label (ESL) Market Size (M USD) and CAGR 2024-2033
2 Electronic Shelf Label (ESL) Market Drivers
Operational Efficiency and Cost Savings
One of the primary drivers of the ESL market is the significant reduction in operational costs. Traditional paper labels require manual updates, which are time-consuming and labor-intensive. ESLs, on the other hand, can be updated remotely and instantaneously, eliminating the need for manual price changes. This automation leads to substantial labor cost savings. For instance, a supermarket with 20,000 SKUs can save 10-15 labor hours per week by using ESLs.
Enhanced Management and Inventory Control
ESLs improve the efficiency of inventory management and restocking processes. With real-time updates and integrated systems, retailers can monitor inventory levels more accurately and respond quickly to stock changes. The ability to display additional information such as QR codes, barcodes, and promotional messages enhances the functionality of ESLs, making them a valuable tool for inventory control and customer engagement.
Improved Customer Experience
ESLs offer a more organized and visually appealing shopping environment. They provide clear, consistent pricing information and can display additional details such as product reviews, nutritional information, and promotional offers. This enhanced visibility and accessibility of information improve customer satisfaction and loyalty.
3 Electronic Shelf Label (ESL) Market Restraints
High Initial Investment Costs
One of the major challenges facing the ESL market is the high initial investment required for implementation. The cost of purchasing and installing ESL systems can be prohibitive for many retailers, especially small and medium-sized businesses. The initial setup involves not only the cost of the labels themselves but also the associated hardware, software, and network infrastructure. This high upfront cost can deter potential adopters, despite the long-term savings and benefits.
Lack of Skilled Workforce
The adoption of ESLs requires a certain level of technical expertise for installation, maintenance, and troubleshooting. Retail employees may need training to effectively use and manage ESL systems. The lack of skilled labor and technical knowledge can lead to operational inefficiencies and increased costs.
Market Saturation and Competition
The ESL market is becoming increasingly competitive, with several established players and new entrants vying for market share. This competition can lead to market saturation, making it difficult for new companies to gain a foothold.
4 Global Electronic Shelf Label (ESL) Market Size and Share by Type in 2024
LCD ESLs are electronic display devices that utilize liquid crystal technology. They offer a cost – effective solution for displaying product information on store shelves. The LCD screen is characterized by a lower cost compared to electronic ink screens, making it an attractive option for some retailers. It also allows for dynamic display with full – color capabilities, providing a rich and vivid visual experience for customers. However, LCD ESLs have some limitations. They consume a relatively high amount of power and require a continuous power supply, which can be a constraint in certain store setups. This may limit their use in areas where access to power is restricted or where energy efficiency is a major concern.
In 2024, the revenue of LCD ESLs is projected to be approximately USD 491.95 million.
Segmented e – paper ESLs are based on e – paper technology, which uses capsules filled with charged particles. Each particle within the capsules can emit a different color when an electric charge is applied. Electrodes above and below the capsule film control the movement of these particles, enabling the display of different colors on the ESL. This technology is known for its low power consumption, as it only requires power when the display is updated.
Segmented displays are designed for applications where predefined segments can meet the display requirements. This is similar to the displays on traditional calculators, where specific segments can be turned on or off to show numbers or simple alphanumeric characters. In the context of ESLs, this allows for the clear display of product prices, basic product information, and promotional messages.
In 2024, the revenue of segmented e – paper ESLs is forecasted to be around USD 986.46 million.
Table Global Electronic Shelf Label (ESL) Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
LCD | 491.95 | 23.74% |
Segmented e-Paper ESL | 986.46 | 47.61% |
Full Graphic e-Paper ESL | 593.47 | 28.64% |
5 Global Electronic Shelf Label (ESL) Market Size and Share by Application in 2024
Hypermarkets and supermarkets are large – scale retail establishments that offer a wide range of products. They are designed to serve the comprehensive needs of consumers, including food, household items, and more. ESLs in these stores play a crucial role in efficiently managing prices and product information. In 2024, the market size for ESLs in hypermarkets & supermarkets is projected to reach approximately USD 850.43 million. The growth in this segment can be attributed to the large number of products they carry. With thousands of SKUs (Stock – Keeping Units), manual price – changing is time – consuming and error – prone. ESLs enable real – time price updates, ensuring price accuracy and consistency across the store.
Convenience stores are small – scale retail businesses that stock a variety of everyday items such as snacks, beverages, and basic household goods. In 2024, the ESL market size for convenience stores is expected to be around USD 577.13 million. ESLs in convenience stores help in quick price adjustments, which is essential for reacting to market changes. For instance, if there is a sudden increase in the cost of a popular snack, the price on the ESL can be updated immediately. This not only improves operational efficiency but also provides a better shopping experience for customers who expect convenience and accurate pricing.
Specialty stores focus on selling specific types of products, such as electronics, clothing, or jewelry. In 2024, the ESL market in specialty stores is forecasted to be approximately USD 353.73 million. ESLs in these stores can be customized to display detailed product information relevant to the specialty items.
Table Global Electronic Shelf Label (ESL) Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
Hypermarkets & Supermarkets | 850.43 | 41.05% |
Convenience Stores | 577.13 | 27.86% |
Specialty Stores | 353.73 | 17.07% |
Others | 290.59 | 14.03% |
6 Global Electronic Shelf Label (ESL) Market Sales by Region in 2024
In 2024, the ESL market in the United States is expected to reach approximately 367.08 M USD. The US retail landscape is highly competitive and technology – driven, making it a fertile ground for ESL adoption. Major retailers such as Walmart, Target, and Best Buy have been at the forefront of implementing ESL technology across their vast store networks. Walmart, for example, has been using ESLs to manage the prices of millions of products in real – time. This not only ensures price accuracy but also allows for quick adjustments during sales promotions or in response to competitor pricing.
Europe is a major player in the global ESL market, and in 2024, its market size is projected to be around 999.7 M USD. Germany, the UK, and France are among the leading countries in ESL adoption within the region. Germany, with its strong manufacturing and retail sectors, has been actively implementing ESLs in large – scale supermarkets and department stores. Companies like Aldi and Lidl have recognized the potential of ESLs in streamlining their operations. ESLs enable them to manage inventory more efficiently, reduce labor costs associated with manual price – changing, and provide a more consistent shopping experience across their stores.
China’s ESL market has been growing rapidly, and in 2024, it is forecasted to reach around 293.5 M USD. The growth of the ESL market in China is closely tied to the country’s booming e – commerce and new retail industries. Retail giants like JD.com and Alibaba have been leading the charge in implementing ESLs in their offline stores. In JD’s 7Fresh stores, ESLs are used to create a seamless shopping experience that combines the convenience of online shopping with the in – store experience. Customers can scan the ESL – displayed QR codes to access more product information, including reviews and nutritional details.
Figure Global Electronic Shelf Label (ESL) Market Size by Region in 2024
7 Major Players in Global Electronic Shelf Label (ESL) Market
7.1 SES – Imagotag
Company Profile
SES – Imagotag, which was acquired by BOE Technology Group Co., Ltd. in 2017, has established itself as a dominant force in the ESL market. With a rich history in providing digital price tags and dynamic pricing solutions, it has a global footprint and is well – recognized for its expertise in the retail technology space.
Business Overview
The company focuses on enabling retailers to revolutionize their in – store pricing and product information management. SES – Imagotag’s solutions are designed to enhance the overall shopping experience for consumers while optimizing operational efficiency for retailers. It works closely with major retail chains across the globe, providing them with customized ESL systems that integrate seamlessly with their existing point – of – sale (POS) and inventory management systems.
Product Offered
SES – Imagotag offers a comprehensive range of ESL products. Their digital price tags come in various sizes and display capabilities, including both segmented and full – graphic e – paper options. These tags can display not only product prices but also promotional offers, product details, and even loyalty program – specific information.
In the most recent year, SES – Imagotag reported a revenue of $345.45 million with a gross margin of 22.41%.
7.2 Pricer
Company Profile
Founded in 1991, Pricer AB, a Swedish company, has been a pioneer in the ESL market. With decades of experience, it has built a strong reputation for its innovative solutions in the retail technology domain.
Business Overview
Pricer AB is dedicated to helping retailers optimize their pricing strategies, enhance operational efficiency, and ultimately improve the customer shopping experience. It serves a wide range of industries, including grocery, DIY, and electronics.
Product Offered
Pricer AB offers a variety of electronic shelf labels. Their ESLs are designed with advanced features such as long – range wireless communication capabilities, ensuring reliable and fast data transfer between the central system and the individual price tags. The labels are available in different form factors to suit various store layouts and product display requirements.
In the most recent year, Pricer reported a revenue of $219.84 million with a gross margin of 26.94%.
7.3 E Ink Holdings
Company Profile
Headquartered in Taiwan, E Ink Holdings Inc. is a renowned technology company that specializes in e – paper display technology. Its technology forms the foundation for many ESL solutions available in the market today.
Business Overview
E Ink Holdings focuses on developing and manufacturing e – paper display technology, which is then licensed or sold to various ESL manufacturers. By providing high – quality, reliable e – paper technology, it plays a crucial role in enabling the functionality and success of ESL products.
Product Offered
The core product of E Ink Holdings is its e – paper display technology. This technology offers high contrast, low power consumption, and a paper – like readability, making it ideal for ESL applications.
In the most recent year, E Ink Holdings reported a revenue of $269.67 million with a gross margin of 33.76%.