Global Electronic Shelf Labels: NFC Technology Boosts Engagement and Payment

The global Electronic Shelf Label (ESL) market had a market value of US$ 1.13 Billion in 2022 and is estimated to reach US$ 5.93 Billion by 2030. The market is anticipated to register a CAGR of 23.48% during the forecast period.

Electronic Shelf Labels offer retailers a more efficient, accurate, and flexible solution for pricing management while enhancing the shopping experience for customers.

Europe holds the highest share of more than 40% and the revenue of 503.1 million during 2022.

The adoption of Electronic Shelf Labels (ESL) is on the rise, driven by the global demand for retail automation. ESLs offer real-time price updates, ensuring price consistency across all store shelves. Whenever prices change, these updates are instantly synchronized, eliminating any discrepancies between displayed and actual prices.

In April 2023, SES-imagotag, a global leader in digital solutions for physical retail, announced a new partnership with Walmart to deploy the latest-generation VUSION platform in several hundred Walmart U.S. stores. This digitization of stores, made possible on a large scale by such technologies, enhances their efficiency, interactivity, and overall value to the business.

The increasing adoption of Near Field Communication (NFC) technology has expanded the capabilities of Electronic Shelf Labels. NFC-enabled ESLs facilitate seamless customer interactions, improved engagement, streamlined payments, and enhanced inventory management. Retailers can leverage NFC-enabled ESLs to create innovative shopping experiences and gain valuable insights into customer behavior.

NFC enables contactless interactions between ESLs and customers' smartphones or NFC-enabled devices. Shoppers can simply tap their devices on the ESLs to access additional product information, promotions, or even make purchases. Such initiatives are likely to drive the adoption of NFC technology in both developing and developed countries, influencing the demand for Electronic Shelf Labels in the near future.

The global electronic shelf label (ESL) market is characterized by the presence of several established players, including SES-imagotag (France), Pricer AB (Sweden), E Ink Holdings (Taiwan), Displaydata (UK), M2Communication (Taiwan), Samsung Display Solutions (South Korea), Diebold Nixdorf (US), Opticon Sensors Europe (Netherlands), Teraoka Seiko (Japan), NZ Electronic Shelf Labelling (New Zealand), Panasonic Corporation, NCR Corporation. These players hold significant market shares and have a strong global presence.