Electronic Shelf Label (ESLS) Market size is set to grow by USD 1.64 billion from 2024-2028

The global electronic shelf label (ESLS) market size is estimated to grow by USD 1641 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 15.69% during the forecast period. Implementation of in-store technologies is driving market growth, with a trend towards rising number of strategic partnerships and alliances. However, growth in e-commerce industry poses a challenge.

The global Electronic Shelf Label (ESL) market is expanding, and vendors are actively investing in product development to capitalize on its growth potential. Strategic partnerships and alliances are a key focus for vendors, enabling them to broaden their offerings and extend their reach in various regions. For instance, in 2023, Qualcomm Technologies, Inc. Collaborated with SES-imagotag to develop new ESL technology based on Bluetooth SIG's ESL wireless standard. Such collaborations are anticipated to boost the market's growth during the forecast period.

Electronic Shelf Labels (ESLs) have become a trending technology in retail stores, replacing traditional paper labels with real-time, battery-powered displays. The market for ESLs is surging due to the proliferation of technologies like Radio Frequency Identification (RFID) and Bluetooth, enabling seamless communication between ESL devices and store networks. SES-imagotag and Hanshow Technology lead the market, with master framework agreements and regulatory support from trade and market regulations. ESLs offer numerous benefits, including accurate pricing, product information, and special offers. They facilitate mobile payment and near field communication for a better shopping experience. ESLs also support inventory status, product details, and real-time promotions, enhancing brand loyalty and employee job satisfaction. The market for ESLs is expected to grow as automation in stores continues, with E-commerce and order picking becoming increasingly important. However, import-export and production analysis indicate potential challenges for market dominance. Inaccurate pricing and regulatory compliance are also crucial considerations. Legacy ESL solutions are being upgraded with connectivity technologies like QR codes and NFC to meet the demands of modern retail.