Market Size (2013)
2013
$232.13M
Semiconductor
Electronic Shelf Label ESL Market
By Segment, By Region, And Segment Forecasts, 2013 – 2024
Vertical: SEMIBase Year: 20189 Sections
Executive Summary
Electronic Shelf Label ESL Market — Snapshot
Projected (2024)
2024
$1.55B
CAGR (2013–2024)
18.9%
18.9%Key Players
107+
Electronic shelf label (ESL) is one of the widely used devices that offer several benefits to several retail segments such as departmental stores, drug stores, supermarkets and specialty stores. E-paper display based ESLs are cheaper in terms of maintenance as compared to traditional printed labels and offers features such as minimum power consumption, daylight readability, and minimum or no strain on the eye. The rising adoption of IoT in retail and growing concerns to save environment by replacing paper with e-paper display devices are some of the major factors fueling the growth of electronic shelf label (ESL) market. LCD based ESLs are slowly being depleted and the manufacturers are primarily focusing on advancement of e-ink displays. E-paper display has acquired the larger market share among the two and continues to dominate throughout the forecast period. Although the ESLs are gaining traction in all parts of the world, its limited color richness and fully enhanced graphic capabilities are acting as challenges for its growth. ESL manufacturers are conducting extensive research to overcome these challenges and make the technology more lucrative than ever before. The study also indicates the ongoing research for the development of battery-less ESLs which is expected to improve its usability and adoption.
In this study, the global electronic shelf label (ESL) market is segmented based on type and application. By type, the electronic shelf label (ESL) market is segmented into LCD ESL and E-paper ESL. Among these, E-paper ESL dominated the market in 2018. By application the market is classified into department store/mass merchandise, grocery store/supermarket, drug store, specialty store. Grocery store/supermarket segment dominated the market in 2018 and specialty stores segment is growing at highest CAGR.
based on region, this study includes North America, Europe, Asia-Pacific, Middle East and Africa and South America. North America is further segmented into the US, Canada, and Mexico; Europe into Germany, the UK, France, Russia, Italy and the rest of Europe; Asia-Pacific into China, Japan, India, Korea and the rest of Asia-Pacific. Middle East and Africa into Saudi Arabia, UAE, South Africa, Egypt, and Rest of the Middle East & Africa; and South America into Brazil, Argentina, Colombia and Rest of South America.
The global electronic shelf label (ESL) market comprises various manufacturers, government research firms, universities, and technical institutes that engage in developing and making advancement in the technological industry. The major players considered in the scope of horticulture lighting market are SES-IMAGOTAG, Pricer AB, SAMSUNG, E Ink Holdings Inc., Diebold Nixdorf, Incorporated, Displaydata Limited, Hanshow Technology CO., LTD, Altierre Corporation, M2COMMUNICATION INC, and Solum among others. The competition in the electronic shelf label (ESL) market segment is rapidly increasing owing to the entry of new players in the market serving various application areas. Partnerships, agreements, and collaboration are observed to be the most prominent strategy adopted by the major vendors from 2017 to 2019 to improve their position and excel in the electronic shelf label (ESL) market. For Instance, in October 2019, SES-imagotag has partnered with Wirecard to develop a joint ESL-enabled (Electronic Shelf Label) mobile payment solution for in-store shoppers. Under this partnership, the companies are developing a "pay to tag" solution that will connect Wirecard's mobile payment platform with all SES-imagotag cloud-connected IoT labels.
Key Insight
The Electronic Shelf Label ESL Market market is projected to grow at a CAGR of 18.9% from 2013 to 2024.
Market Performance Trend
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansMarket Scope & Coverage
What this report covers
- Geographic Coverage: This analysis covers 5 regions: Middle East and Africa, North America, Asia Pacific, Europe, South America.
- Market Segmentation: The market is analyzed across key segments with forecasts from 2013 to 2024.
- Competitive Landscape: 107 leading companies are profiled, covering market positioning, strategies, and recent developments.
Market Size (USD Mn)
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View Subscription PlansMarket Overview
Electronic Shelf Label ESL Market — Growth Trajectory
Electronic shelf label (ESL) are the devices used for displaying the information of the products including pricing, discounts, and others. These labels are by the departmental stores, grocery, and others. These devices used e-paper and liquid-crystal displays (LCD) for showcasing the product price to the customer. Additionally, these displays are used for reducing the manual work and updates automatically whenever there is a change in the prices of the products using various communication network.
Market Size Trend (USD Mn)
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View Subscription PlansMarket Dimensions
How this market is segmented
- Type Type is broken down into: E-Paper Display, LCD ESL.
- Application Application is broken down into: Department Store/ Mass Merchandise, Grocery Store/ Supermarket, Drug Store, Specialty Store.
Geographic Analysis
Regional market breakdown
- Middle East and Africa Middle East and Africa market size reached $20.99M in 2013 and is projected to reach $142.30M by 2024, growing at a CAGR of 19.0%.
- North America North America market size reached $69.74M in 2013 and is projected to reach $437.97M by 2024, growing at a CAGR of 18.2%.
- Asia Pacific Asia Pacific market size reached $38.28M in 2013 and is projected to reach $341.08M by 2024, growing at a CAGR of 22.0%.
- Europe Europe market size reached $83.21M in 2013 and is projected to reach $491.46M by 2024, growing at a CAGR of 17.5%.
- South America South America market size reached $19.91M in 2013 and is projected to reach $139.66M by 2024, growing at a CAGR of 19.4%.
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View Subscription PlansResearch Methodology
Electronic Shelf Label ESL Market — How We Researched This Market
This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2013 – 2018
Forecast Period
2018 – 2024
Primary Interviews
150+
Research Process
Historical data (2013–2018) and forecast period (2018–2024)
1
Problem Definition
- Market scoping
- Objective setting
- Framework design
2
Secondary Research
- Literature review
- Data mining
- Trend analysis
3
Primary Research
- Expert interviews
- Field visits
- Surveys
4
Data Analysis
- Quantitative modeling
- Statistical testing
- Validation
5
Insights & Reporting
- Synthesis
- Recommendations
- Visualization
Research Depth
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
Historical vs. Forecast Data
Historical (observed)
Forecast (modelled)
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Regional Breakdown
Regional market breakdown for Electronic Shelf Label ESL Market.
Regional Market Size (USD Mn)
Market estimates by geography (2024)
USD Mn
InsightEurope leads with $491.46M by 2024, while Asia Pacific is projected to grow fastest at a 22.0% CAGR.
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View Subscription PlansRegional Market Data
| REGION | 2013 | 2018 | 2024 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $20.99M | $49.74M | $142.30M | 19.0% | 9% |
| North America | $69.74M | $160.03M | $437.97M | 18.2% | 28% |
| Asia Pacific | $38.28M | $105.30M | $341.08M | 22.0% | 22% |
| Europe | $83.21M | $182.90M | $491.46M | 17.5% | 32% |
| South America | $19.91M | $48.07M | $139.66M | 19.4% | 9% |
| Total | $232.13M | $546.04M | $1.55B | 18.9% | 100% |
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Analytics
Electronic Shelf Label ESL Market — Key Findings
Analytical insights on Electronic Shelf Label ESL Market covering market dynamics, competitive landscape, and strategic outlook.
Key Analytical Findings
The Electronic Shelf Label ESL Market market is projected to reach $1.55B by 2024, growing at 18.9% CAGR.
Market Dynamics
The factors responsible for the growth of electronic shelf label (ESL) include rising adoption of IoT in retail and industries and growing environmental concerns. However, the high initial investments and limited color richness and video capabilities act as restraint and challenge respectively.
Market Drivers
Advancements in IoT technology have enhanced the working efficiency in terms of communication, time management, reducing manual labor, and offering useful and important data in real-time to the individuals in various industrial verticals. Rapid developments in technologies and the introduction of IoT technology have simplified the sharing of information in real-time. Various retail stores, industries, and companies, among others, are using ESLs for labeling their products placed within a shelf. These labels allow store managers, retail managers, and companies to maintain the inventory count across the organization or stores. In retail stores, ESLs are used for displaying the prices, discounts, offers, availability of the products. The ESLs use the Internet and wireless connectivity to communicate with the main servers for changing the prices and discounts on a product resulting in the reduction of manual work and recurrent errors. Furthermore, these labels also reduce the usage of paper labels and synchronizes the prices of the products with the online and offline channels; this enables displaying the same prices on both the channels and reduces the manual work for changing the prices of the goods on a regular basis. Various companies are using the ESLs to increase their work productivity and efficiency; for instance, in January 2019, Kroger Co. collaborated with Microsoft Corporation for the development of proprietary technology called EDGE (Enhanced Display for Grocery Environment) Shelf, which will share the real-time information from all over the store using the Internet of Things sensors; thus, this leads to the growth of the global electronic shelf label (ESL) market across the globe.
Market Restraints
High initial investments required to set up these products in stores is one of the major restraining factors in the global electronic shelf label (ESL). Small retailers, specifically in the developing regions such as South America, Africa, and Asia-Pacific cannot afford the high investments required for ESLs as a connected infrastructure is required for these devices. Also, additional costs of electricity, upgrading of software, network connections, and maintenance of hardware, among others further increase the overall setup cost, which is expected to hinder the growth of the market. Moreover, the enterprises in these regions prefer to employ manual labor an alternative for ESLs. Additionally, the lack of awareness among the individuals associated with the benefits of ESLs is also expected to restrain the growth of the market.
Market Challenges
Although e-paper display has a wide range of applications, its limited color richness and video capabilities restrict its scope. Most of the e-paper displays support only two colors—black and white, and the speed of videos or animations is also slower in comparison to LCD or LED displays. In 2017 and 2018, few vendors launched e-paper displays with multi-color support; however, the color richness is far inferior as compared to LCD or LED displays. The major vendors are extensively investing in R&D to overcome these challenges and are aiming at manufacturing e-paper display devices with greater color richness and high video quality. Furthermore, the vendors are also researching on increasing the resolution of the e-paper display to enhance clarity.
Strategic Outlook and Future Directions
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Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Companies
Key companies profiled in Electronic Shelf Label ESL Market
Profiles of 107 companies operating in the Electronic Shelf Label ESL Market market, including revenue, employee count, and market positioning where available.
Showing 107 of 107 companies
SoluM
SoluM
Semiconductor
Company Headquarters: South Korea Founded: 2015 Workforce: ~400 Company Working: SoluM engages in the provision of power, tuner, and electronic shelf label components. The company is a spin-off of the Digital Module division of Samsung Electro-Mechanics. The company operates through three business segments, power module, tuner, and ESL. The power module segment develops integrated power electronics modules (IPEM) by modularizing control ICs and passive devices. The tuner segment supplies digital tuner for broadcasting signal reception used in TV and STB products. Its ESL segment provides 7-segment information labels with the help of 3C-Graphic designing. It operates across North America, Europe, and Asia.
RevenueN/A
Employees400
Market CapN/A
Founded2014
South Korea
M2COMMUNIC
M2COMMUNICATION INC.
Semiconductor
Company Headquarters: Taiwan Founded: 2012 Workforce: ~100 Company Working: M2COMMUNICATION INC. (M2COMM) specializes in ultra-low-energy wireless networking technologies, Internet-of-Things (IoT) communication systems, and chipset solutions. The company develops and designs automated process equipment for retail, healthcare, industrial, and commercial sectors. The company manages its operations from Taiwan, Japan, and France to cater to customers across Europe and Asia.
RevenueN/A
Employees100
Market CapN/A
Founded2011
Taiwan
Altierre C
Altierre Corporation
Semiconductor
Company Headquarters: US Founded: 2003 Workforce: ~100 Company Working: Altierre Corporation engages in the development and manufacture of wireless radio frequency information systems. The company offers digital signage and pricing solutions, single-platform hardware, software, and other information technology services for retail, automotive, and manufacturing industry verticals. It primarily operates its business from the US and Europe.
RevenueN/A
Employees100
Market CapN/A
Founded2002
US
Displaydat
Displaydata Limited
Semiconductor
Company Headquarters: UK Founded: 2000 Workforce: ~50 Company Working: Displaydata Limited (Displaydata) is a provider of dynamic digital display solutions. The company also provides electronic shelf labels, Bluetooth LE (BLE) Beacons, and digital displays with the help of its infrastructure and software platform. It offers two series of ESLs, namely Aura and Chroma. Under its Aura series of ESLs, the company offers the displays in black and white and under the Chroma series of ESLs, the company offers ESLs three colors. Displaydata primarily caters to the retail industry.
RevenueN/A
Employees50
Market CapN/A
Founded1999
UK
E Ink Hold
E Ink Holdings Inc.
Semiconductor
Company Headquarters: Taiwan Founded: 1992 Workforce: ~2,600 Company Working: E Ink Holdings Inc. engages in the research, development, production, and distribution of electronic paper display panels. It provides thin film transistor liquid crystal displays and electronic paper display modules for electronic readers, electronic shelf labels, and electronic notes, among others. The company provides electronic paper display (EPD) products, which are used in electronic books. It also offers segment displays and electronic readers, as well as thin-film transistor (TFT) liquid crystal display (LCD) panels and modules, which are used in automobile and entertainment systems, navigation products for aerospace and marine, security monitoring systems, medical instruments, video telephones, video cameras, portable digital versatile disks (DVDs), digital photo frames, industrial instruments, and point of sale (POS) systems, among others. The company caters to various industry verticals such as consumer electronics, industrial, automotive, aerospace & defense, and retail across Asia and the Americas.
Revenue$0.4B
Employees2,600
Market CapN/A
Founded1991
Taiwan
Pricer AB
Pricer AB
Semiconductor
Company Headquarters: Sweden Founded: 1991 Workforce: ~120 Company Working: Pricer AB engages in the provision of in-store digital shelf solutions. The company develops components and systems for communication in retail, electronics, and specialty stores. Its mobile shopping application offers electronic shelf labels, shopping routes, product information, store geofencing, store tasks, planogram compliance, and click and collects application. Its ESL solution provides reliable and scalable optical wireless communications systems in the near-infrared spectrum.
Revenue$0.1B
Employees120
Market CapN/A
Founded1990
Sweden
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I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
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Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Electronic Shelf Label ESL Market
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