Summary

The electronic shelf labels market was valued at 2.34 billion in 2024 and is projected to reach USD 4.18 billion by 2029; it is expected to register a CAGR of 12.3% during the forecast period. The integration of ESL facilitates dynamic price changes, eliminating the need for manual price updat is driving the growth. Whereas lack of suitable infrastructures for wireless technologies and high installation and supporting infrastructure expenses is restraining the growth of the electronic shelf labels market.

“The LCD segment is expected to grow at the second highest CAGR during the forecast period.”
The LCD segment is projected to grow at the second highest CAGR during the forecast period. This growth can be attributed to the increasing penetration of LCD-based ESL solutions in retail environments where high quality clear display capabilities are important in capturing consumer attention, and to offer information which can easily be read from a distance.



The Near-field Communication type is likely to grow at the second highest CAGR during the forecast period
The Near-field Communication is expected to grow at second highest CAGR during the forecast period.
The NFC-based ESLs have unique characteristics especially in terms of their capability to interface with smart phones and other devices equipped with NFC technology. As a result, NFC-based labels are quite appropriate for various uses such as stock checking, changes in prices, as well as product verification; all of which prove the versatility of the programmes. NFC is fast, accurate and contactless – perfect for a retail environment where time is of the essence. ESLs that are NFC compatible enable retailers to make changes such as prices, product and promotional information on the go by touching the device on the NFC label.



“Europe is likely to grow at the largest share during the forecast period.”
The market in Europe is expected to grow at the largest share during the forecast period. There are several reasons that support this dominance, such as established retail market, continuous integration of the advanced technologies in the operation of retail outlets, and a strong focus on enhancing customer experience. ESL is becoming incredibly popular with the European retailers as they are interested in enhancing their in-/store efficiency, minimizing costs, and giving the consumers accurate timely information on the product prices. Some of the prominent market players in Europe and their ongoing innovation and expansion schemes contribute to the growth of the market. The region’s business environment, which promotes the use of efficient energy technology ad sustainability, also provides another consideration for the use of electronic shelf labels.


Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

• By Company Type - Tier 1 – 55%, Tier 2 – 25%, Tier 3 – 20%
• By Designation— C-level Executives - 50%, Directors - 30%, Others - 20%
• By Region—North America - 40%, Europe - 35%, Asia Pacific - 20%, RoW - 5%

The electronic shelf labels market is dominated by a few globally established players such as VusionGroup (France), SOLUM (South Korea), Pricer (Sweden), Displaydata Ltd. (UK), Teraoka Seiko Co., Ltd. (Japan). The study includes an in-depth competitive analysis of these key players in the electronic shelf labels market, with their company profiles, recent developments, and key market strategies.

Research Coverage:
The report segments the Home automation system market and forecasts its size by component, product type, communications technology, display size, end-user, region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main region—North America, Asia Pacific, Europe, RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the electronic shelf labels ecosystem.

Key Benefits to Buy the Report:
• Analysis of key Drivers (Growing trend of retail automation, Benefits offered by ESLs, High demand for price optimization from retailers, Electronic shelf labels facilitate reduced labor efforts, Advent of 5G), Restraints (High installation and supporting infrastructure expenses, Lack of suitable infrastructures for wireless technologies), Opportunities (Constantly growing retail sector, Growth in Omni-Channel Retail, Digital disruptions facilitating adoption of advanced retail solutions), Challenges (Low labor costs in developing countries, Growing trend of e-commerce, Low retail margins hindering adoption of advanced retail solutions)
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the electronic shelf labels market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the Home automation system market across varied countries.
• Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the electronic shelf labels market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and system types of leading players like VusionGroup (France), SOLUM (South Korea), Pricer (Sweden), Displaydata Ltd. (UK), Teraoka Seiko Co., Ltd. (Japan), M2COMM (Taiwan), Opticon (Netherlands), PARTRON ESL (South Korea), Shanghai SUNMI Technology Co., Ltd. (China), Hanshow (China), Dalian Sertag Technology Co., Ltd. (China), among others in the electronic shelf labels market.

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Table of Contents

1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.3 STUDY SCOPE 25
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 25
1.3.2 YEARS CONSIDERED 26
1.3.3 INCLUSIONS AND EXCLUSIONS 26
1.4 CURRENCY CONSIDERED 27
1.5 UNITS CONSIDERED 27
1.6 LIMITATIONS 27
1.7 STAKEHOLDERS 27
1.8 SUMMARY OF CHANGES 27
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
2.1.1 SECONDARY AND PRIMARY RESEARCH 31
2.1.2 SECONDARY DATA 31
2.1.2.1 List of key secondary sources 32
2.1.2.2 Key data from secondary sources 32
2.1.3 PRIMARY DATA 32
2.1.3.1 Breakdown of primaries 33
2.1.3.2 List of key primary interview participants 33
2.1.3.3 Key data from primary sources 34
2.1.3.4 Keys industry insights 34
2.2 FACTOR ANALYSIS 35
2.2.1 SUPPLY-SIDE ANALYSIS 35
2.2.2 DEMAND-SIDE ANALYSIS 36
2.2.3 GROWTH FORECAST ASSUMPTIONS 36
2.3 MARKET SIZE ESTIMATION METHODOLOGY 37
2.3.1 BOTTOM-UP APPROACH 37
2.3.1.1 Approach to arrive at market size using bottom-up analysis
(demand side) 37
2.3.2 TOP-DOWN APPROACH 38
2.3.2.1 Approach to arrive at market size using top-down analysis
(supply side) 38
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 39
2.5 RESEARCH ASSUMPTIONS 40
2.6 RESEARCH LIMITATIONS 40
2.7 RISK ASSESSMENT 40
3 EXECUTIVE SUMMARY 41
4 PREMIUM INSIGHTS 44
4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR KEY PLAYERS IN
ELECTRONIC SHELF LABELS MARKET 44
4.2 ELECTRONIC SHELF LABELS MARKET, BY PRODUCT TYPE 44
4.3 ELECTRONIC SHELF LABELS MARKET, BY COMMUNICATION TECHNOLOGY 45
4.4 ELECTRONIC SHELF LABELS MARKET, BY RETAIL STORE TYPE 45
4.5 ELECTRONIC SHELF LABELS MARKET IN EUROPE, BY END USER 46
4.6 ELECTRONIC SHELF LABELS MARKET, BY REGION 46
4.7 ELECTRONIC SHELF LABELS MARKET, BY COUNTRY 47
5 MARKET OVERVIEW 48
5.1 INTRODUCTION 48
5.2 MARKET DYNAMICS 48
5.2.1 DRIVERS 49
5.2.1.1 Growing trend of retail automation 49
5.2.1.2 Increasing need for dynamic pricing in retail sector 49
5.2.1.3 Need to reduce labor and human errors 50
5.2.1.4 Advent of 5G technology 50
5.2.2 RESTRAINTS 51
5.2.2.1 High cost of installation and supporting infrastructure 51
5.2.2.2 Lack of suitable infrastructures for wireless technologies 52
5.2.3 OPPORTUNITIES 52
5.2.3.1 Adoption of omnichannel sales by retailers 52
5.2.3.2 Expansion of retail sector 53
5.2.3.3 Implementation of advanced retail solutions 53
5.2.4 CHALLENGES 54
5.2.4.1 Low labor costs in developing countries 54
5.2.4.2 Growth of e-commerce sector 54
5.2.4.3 Low profit margins hindering adoption of automation technology 55
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 56
5.4 PRICING ANALYSIS 57
5.4.1 AVERAGE SELLING PRICE OF KEY PLAYERS, BY DISPLAY SIZE, 2023 57
5.4.2 AVERAGE SELLING PRICE TREND, BY REGION (2020–2023) 58
5.5 SUPPLY CHAIN ANALYSIS 58
5.6 ECOSYSTEM ANALYSIS 60
5.7 INVESTMENT AND FUNDING SCENARIO 62
5.8 TECHNOLOGY ANALYSIS 62
5.8.1 KEY TECHNOLOGIES 62
5.8.1.1 AI-powered dynamic pricing solutions 62
5.8.1.2 E-paper displays 63
5.8.2 COMPLEMENTARY TECHNOLOGIES 63
5.8.2.1 Shelf monitoring software 63
5.8.2.2 Self-scanning solutions 63
5.8.3 ADJACENT TECHNOLOGIES 64
5.8.3.1 Endcap shelf edge displays 64
5.9 PATENT ANALYSIS 64
5.10 TRADE ANALYSIS 67
5.10.1 IMPORT DATA (HS CODE 853120) 67
5.10.2 EXPORT DATA (HS CODE 853120) 69
5.11 KEY CONFERENCES AND EVENTS, 2024–2025 70
5.12 CASE STUDY ANALYSIS 71
5.12.1 PENGUIN RANDOM HOUSE ADOPTED ELECTRONIC SHELF LABELS TO OPTIMIZE BOOK FAIR LOGISTICS 71
5.12.2 LOSURDOS IMPLEMENTED COMPREHENSIVE DIGITAL TRANSFORMATION SOLUTION TO ENHANCE EFFICIENCY AND CUSTOMER SATISFACTION 71
5.12.3 LØBESHOP.DK ADOPTS DISPLAYDATA LIMITED'S ESL SOLUTION TO ALIGN ONLINE AND OFFLINE PRODUCT PRICES 72
5.12.4 SHOPRITE ADOPTED SOLUM'S ESL TO ENHANCE RETAIL DIGITIZATION 72
5.13 TARIFF AND REGULATORY LANDSCAPE 72
5.13.1 TARIFF DATA 73
5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 73
5.13.3 STANDARDS 75
5.14 PORTER'S FIVE FORCES ANALYSIS 75
5.14.1 THREAT OF NEW ENTRANTS 76
5.14.2 THREAT OF SUBSTITUTES 76
5.14.3 BARGAINING POWER OF SUPPLIERS 77
5.14.4 BARGAINING POWER OF BUYERS 77
5.14.5 INTENSITY OF COMPETITIVE RIVALRY 77
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 77
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 77
5.15.2 BUYING CRITERIA 78
5.16 IMPACT OF AI/GEN AI ON ELECTRONIC SHELF LABELS MARKET 79
6 ELECTRONIC SHELF LABELS MARKET, BY COMPONENT 80
6.1 INTRODUCTION 81
6.2 DISPLAYS 82
6.2.1 GROWING USE OF ELECTRONIC SHELF LABELS IN RETAIL SECTOR TO
DRIVE DEMAND FOR DISPLAYS 82
6.3 BATTERIES 83
6.3.1 EASY DEPLOYMENT OF BATTERY-POWERED ELECTRONIC SHELF
LABELS TO DRIVE DEMAND 83
 
6.4 TRANSCEIVERS 83
6.4.1 ABILITY TO ENABLE COMMUNICATION BETWEEN ELECTRONIC SHELF LABELS AND CENTRAL HUB COMPUTERS TO DRIVE MARKET 83
6.5 MICROPROCESSORS 84
6.5.1 NEED TO PROCESS DATA RECEIVED BY TRANSCEIVERS FROM CENTRAL
HUBS TO FUEL SEGMENTAL GROWTH 84
6.6 OTHER COMPONENTS 84
7 ELECTRONIC SHELF LABELS MARKET, BY PRODUCT TYPE 85
7.1 INTRODUCTION 86
7.2 LCD 87
7.2.1 MAINTENANCE-FREE AND LOW POWER CONSUMPTION BENEFITS
TO DRIVE DEMAND 87
7.3 SEGMENTED E-PAPER DISPLAY 90
7.3.1 NEED FOR EFFORTLESS UPDATES TO BOOST DEMAND 90
7.4 FULLY GRAPHIC E-PAPER DISPLAY 94
7.4.1 GROWING NEED TO DISPLAY GRAPHIC-BASED CONTENT IN TIER I AND
TIER II RETAIL STORES TO DRIVE MARKET 94
8 ELECTRONIC SHELF LABELS MARKET, BY OFFERING 98
8.1 INTRODUCTION 99
8.2 HARDWARE 100
8.2.1 NEED FOR AUTOMATED RETAIL PRICING TO DRIVE MARKET GROWTH 100
8.3 SOFTWARE & SERVICES 100
8.3.1 LABEL MANAGEMENT SOFTWARE 101
8.3.1.1 Necessity to streamline pricing updates to boost demand 101
8.3.2 INVENTORY & STOCK MANAGEMENT SOFTWARE 101
8.3.2.1 Demand for optimizing retail operations with ESL fueling growth 101
9 ELECTRONIC SHELF LABELS MARKET, BY COMMUNICATION TECHNOLOGY 102
9.1 INTRODUCTION 103
9.2 RADIO FREQUENCY 104
9.2.1 HIGH STABILITY AND FULLY AUTOMATED DATA TRANSFER BENEFITS DRIVING DEMAND FOR RF-BASED ESLS 104
9.3 INFRARED 105
9.3.1 ELIMINATES NEED FOR TRANSMITTERS AND RECEIVERS TO BE IN EACH OTHER’S LINE OF SIGHT 105
9.4 NEAR-FIELD COMMUNICATION 105
9.4.1 ABILITY TO CONNECT WITH NFC-BASED END DEVICES TO DRIVE MARKET 105
9.5 OTHER COMMUNICATION TECHNOLOGIES 106
 
10 ELECTRONIC SHELF LABELS MARKET, BY DISPLAY SIZE 108
10.1 INTRODUCTION 109
10.2 LESS THAN 3 INCHES 110
10.2.1 INCREASING NEED TO MANAGE SKUS EFFECTIVELY TO DRIVE MARKET 110
10.3 3 TO 7 INCHES 111
10.3.1 STRONG FOCUS OF RETAILERS ON ENHANCING SHOPPING EXPERIENCE TO FOSTER MARKET GROWTH 111
10.4 7 TO 10 INCHES 112
10.4.1 USE OF NFC TECHNOLOGY TO FACILITATE INTEGRATION WITH
SMART DEVICES TO DRIVE DEMAND 112
10.5 MORE THAN 10 INCHES 113
10.5.1 GROWING USE IN INDUSTRIAL APPLICATIONS TO DRIVE MARKET 113
11 ELECTRONIC SHELF LABELS MARKET, BY END USER 114
11.1 INTRODUCTION 115
11.2 RETAIL 116
11.2.1 HYPERMARKETS 119
11.2.1.1 Need for reduced operational costs in hypermarkets to drive demand 119
11.2.2 SUPERMARKETS 123
11.2.2.1 Need for dynamic pricing capabilities to fuel demand 123
11.2.3 NON-FOOD RETAIL STORES 127
11.2.3.1 Ability to offer enhanced management capabilities to propel segmental growth 127
11.2.4 SPECIALTY STORES 131
11.2.4.1 Emphasis on attracting customers to foster increased adoption 131
11.2.5 OTHER RETAIL STORES 135
11.3 INDUSTRIAL 138
11.3.1 OFFERS HIGH EFFICIENCY AND VALUE ADDITION IN CRITICAL
INDUSTRIAL PROCESSES 138
12 ELECTRONIC SHELF LABELS MARKET, BY REGION 143
12.1 INTRODUCTION 144
12.2 NORTH AMERICA 145
12.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA 145
12.2.2 US 148
12.2.2.1 Consolidation of retail stores to drive demand 148
12.2.3 CANADA 149
12.2.3.1 Growing trend of retail automation to drive market 149
12.2.4 MEXICO 149
12.2.4.1 Increasing number of retail stores to fuel adoption 149
 
12.3 EUROPE 149
12.3.1 MACROECONOMIC OUTLOOK FOR EUROPE 150
12.3.2 FRANCE 153
12.3.2.1 Presence of leading manufacturers and hypermarkets
to propel market 153
12.3.3 UK 153
12.3.3.1 Growing need to reduce labor costs to facilitate increased adoption 153
12.3.4 GERMANY 153
12.3.4.1 Thriving retail and industrial sectors to provide growth opportunities for market players 153
12.3.5 ITALY 154
12.3.5.1 Need for regular price updates and enhanced product
promotion to drive market 154
12.3.6 REST OF EUROPE 154
12.4 ASIA PACIFIC 154
12.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC 154
12.4.2 CHINA 158
12.4.2.1 Adoption of automated retail solutions by retailers to drive market 158
12.4.3 JAPAN 158
12.4.3.1 Expansion of global retail brands to create growth opportunities for market players 158
12.4.4 SOUTH KOREA 159
12.4.4.1 Favorable regulatory environment to drive market 159
12.4.5 TAIWAN 159
12.4.5.1 Presence of leading market players to fuel market growth 159
12.4.6 REST OF ASIA PACIFIC 159
12.5 ROW 159
12.5.1 MACROECONOMIC OUTLOOK FOR ROW 159
12.5.2 SOUTH AMERICA 162
12.5.2.1 Rapid urbanization and growth of retail sector to increase adoption 162
12.5.3 MIDDLE EAST & AFRICA 162
12.5.3.1 Expanding retail sector to drive market 162
12.5.3.2 GCC countries 163
12.5.3.3 Rest of Middle East & Africa 163
13 COMPETITIVE LANDSCAPE 164
13.1 OVERVIEW 164
13.2 KEY PLAYERS’ STRATEGIES/RIGHT TO WIN, 2020−2024 164
13.3 MARKET SHARE ANALYSIS, 2023 166
13.4 REVENUE ANALYSIS, 2020–2023 167
13.5 COMPANY VALUATION AND FINANCIAL METRICS 168
13.6 BRAND/PRODUCT COMPARISON 169
 
13.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 169
13.7.1 STARS 169
13.7.2 EMERGING LEADERS 170
13.7.3 PERVASIVE PLAYERS 170
13.7.4 PARTICIPANTS 170
13.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 172
13.7.5.1 Company footprint 172
13.7.5.2 Region footprint 173
13.7.5.3 Display size footprint 174
13.7.5.4 Product type footprint 175
13.7.5.5 End user footprint 176
13.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 177
13.8.1 PROGRESSIVE COMPANIES 177
13.8.2 RESPONSIVE COMPANIES 177
13.8.3 DYNAMIC COMPANIES 177
13.8.4 STARTING BLOCKS 177
13.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 179
13.8.5.1 Detailed list of key startups/SMEs 179
13.8.5.2 Competitive benchmarking of key startups/SMEs 179
13.9 COMPETITIVE SCENARIO 180
13.9.1 PRODUCT LAUNCHES 180
13.9.2 DEALS 181
14 COMPANY PROFILES 182
14.1 KEY PLAYERS 182
14.1.1 VUSIONGROUP 182
14.1.1.1 Business overview 182
14.1.1.2 Products/Solutions/Services offered 184
14.1.1.3 Recent developments 185
14.1.1.3.1 Product launches 185
14.1.1.3.2 Deals 185
14.1.1.4 MnM view 186
14.1.1.4.1 Key strengths 186
14.1.1.4.2 Strategic choices 186
14.1.1.4.3 Weaknesses and competitive threats 186
14.1.2 PRICER 187
14.1.2.1 Business overview 187
14.1.2.2 Products/Solutions/Services offered 188
14.1.2.3 Recent developments 189
14.1.2.3.1 Deals 189
14.1.2.3.2 Expansions 190
 
14.1.2.4 MnM view 190
14.1.2.4.1 Key strengths 190
14.1.2.4.2 Strategic choices 191
14.1.2.4.3 Weaknesses and competitive threats 191
14.1.3 SOLUM 192
14.1.3.1 Business overview 192
14.1.3.2 Products/Solutions/Services offered 192
14.1.3.3 Recent developments 193
14.1.3.3.1 Product launches 193
14.1.3.3.2 Deals 193
14.1.3.4 MnM view 194
14.1.3.4.1 Key strengths 194
14.1.3.4.2 Strategic choices 194
14.1.3.4.3 Weaknesses and competitive threats 194
14.1.4 DISPLAYDATA LTD. 195
14.1.4.1 Business overview 195
14.1.4.2 Products/Solutions/Services offered 195
14.1.4.3 Recent developments 196
14.1.4.3.1 Product launches 196
14.1.4.3.2 Deals 196
14.1.4.4 MnM view 196
14.1.4.4.1 Key strengths 196
14.1.4.4.2 Strategic choices 197
14.1.4.4.3 Weaknesses and competitive threats 197
14.1.5 TERAOKA SEIKO CO., LTD. 198
14.1.5.1 Business overview 198
14.1.5.2 Products/Solutions/Services offered 198
14.1.5.3 Recent developments 199
14.1.5.3.1 Expansions 199
14.1.5.4 MnM view 199
14.1.5.4.1 Key strengths 199
14.1.5.4.2 Strategic choices 199
14.1.5.4.3 Weaknesses and competitive threats 199
14.1.6 M2COMM 200
14.1.6.1 Business overview 200
14.1.6.2 Products/Solutions/Services offered 200
14.1.7 OPTICON 201
14.1.7.1 Business overview 201
14.1.7.2 Products/Solutions/Services offered 201
14.1.7.3 Recent developments 202
14.1.7.3.1 Deals 202
 
14.1.8 PARTRON ESL 203
14.1.8.1 Business overview 203
14.1.8.2 Products/Solutions/Services offered 203
14.1.8.3 Recent developments 204
14.1.8.3.1 Product launches 204
14.1.8.3.2 Deals 205
14.1.9 SHANGHAI SUNMI TECHNOLOGY CO., LTD. 206
14.1.9.1 Business overview 206
14.1.9.2 Products/Solutions/Services offered 206
14.1.10 HANSHOW TECHNOLOGY 207
14.1.10.1 Business overview 207
14.1.10.2 Products/Solutions/Services offered 207
14.1.10.3 Recent developments 208
14.1.10.3.1 Product launches 208
14.1.10.3.2 Deals 208
14.1.10.3.3 Expansions 208
14.2 OTHER PLAYERS 209
14.2.1 DALIAN SERTAG TECHNOLOGY CO., LTD. 209
14.2.2 MINEWTAG 210
14.2.3 LABELNEST 211
14.2.4 DIGETY 211
14.2.5 ZKONG NETWORKS 212
14.2.6 TRONITAG GMBH 213
14.2.7 YALATECH 213
14.2.8 SSSIND 214
14.2.9 ALLSEE TECHNOLOGIES LIMITED 215
14.2.10 MOKOSMART 216
14.2.11 FUTURE SHELF 216
14.2.12 HENDERSON TECHNOLOGY 217
14.2.13 ZHSUNYCO 217
14.2.14 NZ ELECTRONIC SHELF LABELLING 218
14.2.15 LANCOM SYSTEMS GMBH 218
15 APPENDIX 219
15.1 INSIGHTS FROM INDUSTRY EXPERTS 219
15.2 DISCUSSION GUIDE 220
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 223
15.4 CUSTOMIZATION OPTIONS 225
15.5 RELATED REPORTS 225
15.6 AUTHOR DETAILS 226