Global Electronic Shelf Label (ESL) Market to Grow at a CAGR of over 26% during the Forecast Period
According to the latest Arizton's market research report, the global electronic shelf label (ESL) market size to cross USD 2.6 billion by 2025, growing at a CAGR of over 26% during the forecast period.
Global Electronic Shelf Label (ESL) Market Growth
The growing trend of digitalization, automation of technologies, and enhancement of customer experience is the key factors for the adoption despite its huge initial investments in the global electronic shelf label (ESL) market. The growth in the retail format will subsequently boost the market for ESLs alongside dynamic pricing and omnichannel approaches. Even though the adoption of electronic shelf labels has been limited, the growth has been 3X times in the last five years, which is validating the expansion opportunities of the market in the coming years.
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Demand for E-Paper Technology in Global Electronic Shelf Label (ESL) Market
In the global electronic shelf label (ESL) market graphic e-paper segment is witnessing rapid advancements and slowly replacing the traditional LED displays. Most of the leading vendors such as TroniTag are making use of e-paper technology as an effective alternative to LCDs in the global electronic shelf label (ESL) market. The growth of the e-paper is driven by customer attraction through colored text and LED lights that can also integrate QR codes and NFC connectivity.
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Key Offerings:
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by display, technology, end-users, and geography
- Competitive Landscape – 5 Key Company Profiles and 22 Other Prominent Vendors
Global Electronic Shelf Label (ESL) Market – Geographic Analysis
In 2019, Europe was the largest region and its significance in the global electronic shelf label (ESL) market is expected to continue during the forecast period. Europe is expected to be the global leader in adopting NFC-based e-paper labels by 2025 and is projected to witness the fastest growth in future. APAC is witnessing fastest growth in the global electronic shelf label (ESL) market. The development of new selling-techniques, applications and ESL solutions are also being developed to make the shopping experience more engaging and interactive in the region.
Competition Overview
The global electronic shelf label (ESL) market is considerably fragmented where players such as Pricer, SES-imagotag, and Displaydata are by far the largest revenue generators across the potential markets. \ Domestic vendors in developing economies will gain more market share with the expansion of retail distribution networks, as the future of retail is based on digitalization and cost saving solutions in the shopping space. Vendors are trying to differentiate their offerings in the global electronic shelf label (ESL) market based on technology, cloud systems, hardware, battery, price, durability, add-on features, and services.
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