HOME Research Insight The Electronic Shelf Label (ESL) Market for Non-Food Retail Stores is Expected to Grow at the Highest CAGR Between 2017 and 2023.



The Electronic Shelf Label (ESL) Market for Non-Food Retail Stores is Expected to Grow at the Highest CAGR Between 2017 and 2023.


The electronic shelf label (ESL) market is expected to be worth USD 392.3 Million in 2017 and USD 1,424.8 Million by 2023, at a CAGR of 23.98% between 2017 and 2023.

The ESL market is witnessing significant developments across the value chain. The recent advancements in the retail automation technologies have led to their extended use in various other applications, and this has widened the scope along with the rise in the size of ESL market. The major factors driving the growth of this market include trending retail automation, more cost-efficient and less time-consuming alternative to paper labels, and increased operational efficiency with real-time product positioning.

The market for non-food retail stores is expected to grow at the highest CAGR between 2017 and 2023. The non-food retail stores include electronic shops, pharmacies, and drug stores. It is an emerging end-user market having a high growth potential for ESLs. Digital price tagging and superior product management are the major benefits of using ESLs in these stores. The uniform electronic labels contribute to the organized as well as high-quality pharmacies and electronic stores.

The market for full-graphic e-paper ESL is expected to grow at the highest CAGR during the forecast period. These ESLs use e-paper as their display component; these are the advanced version of segmented e-paper displays. The major benefit of these labels is the energy-efficiency and their ability to project graphical objects, such as logos and callouts, facilitating real-time product positioning. These labels are comparatively expensive than other types of ESLs.

The ESL market for the display components is likely to register the highest CAGR during the forecast period. The inclusion of various liquid crystal displays (LCDs) and full-graphic e-paper displays are fueling the growth of the market for display. The rapid adoption of full-graphics and LCD ESLs is also propelling the demand for the display components among the end users.

The market in APAC is expected to grow at the highest CAGR during the forecast period. The globalization and development of organized retail in APAC are likely to contribute to the highest CAGR of the market in this region. Additionally, the readiness of retailers (i.e., ESL end users) in APAC to follow the ongoing trends of the retail market also leads to the growth of the ESL market in this region. Moreover, Japan is the major adopter of ESLs in APAC.

Related Reports:

Electronic Shelf Label Market by Product Type (LCD, Segmented E-Paper, Full-Graphic E-Paper), Communication Technology (RF, IR, NFC), Store Type (Hypermarkets, Supermarkets, Others), Component, and Geography - Global Forecast to 2023

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