Electronic Shelf Label Market Report Scope & Overview:

Electronic Shelf Label Market was valued at USD 1.6 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031, and is projected to reach USD 4.40 billion by 2031. 

Digital shopping and the proliferation of flexible, inexpensive and time-consuming retail trends instead of paper labels, the great need to improve prices among retail stores, the increase in real-time product efficiency are some of the highlights of global market growth.

Electronic Shelf Label Market Revenue Analysis

Get more information on Electronic Shelf Label Market - Request Sample Report

Market Dynamic:

Driver-The adoption of automation in the retail industry has grown exponentially due to growing competition, the introduction of new supply channels, increased investment in the e-commerce market, and rising wages. Technologies such as electronic shelf labels, self-checking terminals, self-monitoring robots, and automatic back-room pouring proved to be successful on a scale in the retail industry and provided significant benefits for retailers. The digital integration of the store is here to last, as companies are increasingly investing in consumer purchasing technology. Retailers around the world offer high flexibility to consumers throughout the shopping process, and the smooth transition between digital and physical shopping platform is becoming increasingly important. In addition, consumers around the world are more sensitive to prices and more knowledgeable about pricing, which has increased the need to make quick or daily changes for store owners.

Restraint- The deployment of ESL technology may seem costly to informal retailers, as the retailer needs to use additional electric shelves to fit ESL markers or comply with ESLs, which also increases installation costs. In addition, retailers / companies are constantly evaluating the benefits of any technology before using it, especially in terms of their investment and the return on investment (ROI). In the informal shopping market in developing countries, such as South Korea and India, the cost of technology is a major obstacle as the delivery of these labels also requires supportive infrastructure, which requires significant investment in small and medium-sized retailers. . India's retail industry is in its early stages; moreover, the population has no knowledge of the principles of modern marketing. In these markets, retailers are not willing to invest much in technology because the cost of modern sales operations is already high; for example, high employment, expensive labor, and price wars lead to higher costs. Although the use of electronic price tags is advantageous, the initial cost of electronic price tags is expensive and cannot be included in all retail stores. Therefore, higher installation costs are likely to disrupt the market during the forecast period.

Opportunity- The retail industry has shown promising growth worldwide due to its shift from manual to automated operations. According to a SNS Insider analysis, the global automation market is expected to be $ 18.99 billion by 2023, growing at a CAGR of 10.96% at the time of forecasting. Vendors from developed countries such as Germany, France, the US, and Singapore have successfully used automated automation solutions to address the growing number of middle-class consumers. Automatic solutions such as ESLs are widely used in developed countries; however, a few developing or less-developed countries such as Sweden, Norway, and South Korea have begun to incorporate ESLs into their retail sector, due to the high growth opportunities in the changing retail market. Various countries, including India, North Korea, and New Zealand, are unused ESL markets and thus hold significant opportunities for these providers.

Challenge- The low availability of labor in developing economies — such as India, South Korea, China, and South Africa — greatly limits the acceptance of changing solutions in the retail industry operating in these countries. Commercial real estate has little or no economic impact on these countries, as cheap jobs are plentiful and readily available. The adoption of flexible retail solutions, such as ESLs, in stores, authorizes the development of existing infrastructure, thereby increasing the total cost of installation. In addition, ESLs are planted in a retail outlet that communicates via NFC, which is the preferred method of communication within the store, among other communication technologies. NFC-based applications and substructure are expensive, therefore, retailers prefer to work straight in all of their stores rather than upgrade stores with ESLs.


The coronavirus Pandemic has disrupted ESL market growth in the first half of 2020 as a result of strict door-to-door measures imposed by government officials around the world. The temporary closure of productive crops has hampered global purchases, contributing to overall market growth. Market conditions in general deteriorated as a result of the closure of industrial facilities, restrictions on public movement reduced the decline in retail prices, and barriers to international trade. However, the industry regained power in the second half of 2020, following the relaxation of closed areas and the reopening of factories. The market will witness growth during forecasting with emerging e-commerce industry leaders using advanced technology in distribution centers. 

The full US ESL e-paper market size for US images was in millions in2020 which led by a huge demand for ESLs from the growing e-commerce sector using advanced technology in distribution centers to facilitate the operation and delivery of items on time. to ensure customer satisfaction.

As e-commerce players deal with a large number of assets in their final bases, manual labeling techniques are time-consuming. Wrong price may result in shipping delays, customer complaints, and higher operating costs. ESL-filled clear sheets of paper ensure clear readability even in dim light conditions. ESLs converting traditional warehouses into a connected digital space will reflect a growing demand during the forecast period.

Segmentation Overview for Global Electronic Shelf Label-

The electronic shelf label market is divided into product type, component, display size, communication technology, store type, and region. Based on the type of product, the market is divided into LCD, E-Paper, and E-paper with full images. In part, it is divided into indicators, batteries, transceivers, microprocessors, and others. Based on the type of product, the market is divided into LCD, E-Paper, and E-paper with full images. By display size, the market is divided into 3 inches, 3 to 7 inches, 7 to 10 inches, and more than 10 inches. Based on communication technology, it is divided into radio frequency, infrared, near the communication platform, and more. In the form of a store, it is divided into hypermarkets, supermarkets, non-grocery stores, specialty stores, etc., among which hypermarkets have received the highest market share due to the growing acceptance of digital technology in the retail sector.

Market Segmentation

By Type


  • Segmented e-paper ESL

  • Full graphic e-paper ESL

  • E-Ink

By Technology

  • Radio Frequency

  • Infrared

  • Near-field Communication

  • ZigBee

  • BLE

  • Wi-Fi

  • Others

By Application

  • Industrial

  • Commercial

  • Supermarket and Hypermarket

  • Convenience Store

  • Departmental Store

  • Specialty Store

  • Pharmacies

By Display Size 

  • Less than 3 inches

  • 3 to 7 inches

  • 7 to 10 inches

  • More than 10 inches

Get Customized Report as per your Business Requirement - Request For Customized Report


The regional market share of the electronic shelf label includes North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific electric shelf label market is expected to grow at a very high CAGR during the forecast period, due to the high availability of large stores with high customer interest, and easy availability of processing equipment, high growth of full e-paper image display, and non-food outlets which are gaining popularity in this region.


  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America


Key players featured in the report include Advantech Inc, Altierre Corporation, Displaydata Limited, E Ink Holdings Inc, Herbert Retail Limited, M2COMM, Opticon Sensors Europe B.V, Diebold Nixdorf Incorporated, Teraoka Seiko Co Ltd, SoluM, SES-imagotag, Samsung Electronics Co. Ltd. These key players use strategies, such as product portfolio expansion, integration and acquisition, contracts, space expansion, and collaborations to improve their position in the electrical shelf label industry.

Altierre Corporation-Company Financial Analysis

Company Landscape Analysis

Electronic Shelf Label Market Report Scope:
Report Attributes Details
Market Size in 2023 US$ 1.6 Billion
Market Size by 2031 US$ 4.40 Billion
CAGR CAGR of 13.5% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Type (LCD ESL, Segmented e-paper ESL, Full graphic e-paper ESL, E-Ink )
• by Technology (Radio Frequency, Infrared, Near-field Communication, ZigBee, BLE, Wi-Fi, Others)
• by Application Type (Industrial, Commercial, Supermarket and Hypermarket, Convenience Store, Departmental Store, Specialty Store, Pharmacie)
• by Display Size (Less than 3 inches, 3 to 7 inches, 7 to 10 inches, More than 10 inches)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Advantech Inc, Altierre Corporation, Displaydata Limited, E Ink Holdings Inc, Herbert Retail Limited, M2COMM, Opticon Sensors Europe B.V, Diebold Nixdorf Incorporated, Teraoka Seiko Co Ltd
Key Drivers • adoption of automation in the retail industry has grown exponentially due to growing competition
OPPORTUNITIES • The deployment of ESL technology may seem costly to informal retailers

Frequently Asked Questions

Japan, South Korea, China, India, Australia, and the rest of the Asian-Pacific are covered in the APAC region.

Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGOs, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries

Electronic Shelf Label Market size was valued at USD 1.6 billion in 2023 at a CAGR OF 13.5%.

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.

Increased retail automation is driving growth in emerging economies and shift from manual to automated operations are the opportunities in the Electronic Shelf Label Market.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. The SNS Graph

9. Electronic Shelf Label Market, Segmentation, by  type
9.1 Introduction
9.3 Segmented e-paper ESL
9.4 Full graphic e-paper ESL
9.5 E-Ink

10. Electronic Shelf Label Market, Segmentation, By Technology
10.6 Introduction
10.7 Radio Frequency
10.8 Infrared
10.9 Near-field Communication

11. Electronic Shelf Label Market, Segmentation, By application
11.4 Introduction
11.5 Industrial
11.6 Commercial
11.7 Supermarket and Hypermarket
11.8 Convenience Store
11.9 Departmental Store
11.10Specialty Store

12. Electronic Shelf Label Market, Segmentation, By Size
12.1 Introduction
12.2 Less than 3 inches
12.3 3 to 7 inches
12.4 7 to 10 inches
12.5 More than 10 inches
12.6 Introduction

13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.3South Africa
13.6 Latin America
13.6.3Rest of Latin America

14. Company Profiles
14.1 Advantech Inc
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Altierre Corporation
14.3 Displaydata Limited
14.4 E Ink Holdings Inc
14.5 Herbert Retail Limited
14.6 M2COMM
14.7 Opticon Sensors Europe B.V
14.8 Diebold Nixdorf Incorporated
14.9 Teraoka Seiko Co Ltd
14.10 SoluM
14.11 SES-imagotag
14.12 Samsung Electronics Co. Ltd
14.13 Pricer AB.

15. Competitive Landscape
15.1 Competitive Benchmark
15.2 Market Share analysis
15.3 Recent Developments

16. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.


The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

Start a Conversation

Hi! Click one of our member below to chat on Phone