Full Graphic Electronic Shelf Labels Market Size (2023-2030)

According to the report published by Virtue Market Research in Global Full Graphic Electronic Shelf Labels Market is valued at USD 393.45 million in 2023 and is projected to reach a market size of USD 1.32 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 19 %.

Full Graphic Electronic Shelf Labels (ESLs) have emerged as a revolutionary technology, revolutionizing the retail landscape with their dynamic digital displays that replace conventional paper-based price tags. This cutting-edge solution empowers retailers to seamlessly update product details, prices, and promotional offers in real time with unparalleled efficiency and precision. The retail industry has been captivated by the transformative potential of Full Graphic ESLs, as they not only elevate the shopping experience for customers but also yield a myriad of operational advantages for retailers. Through these smart labels, shoppers can access up-to-date information, enabling them to make informed decisions, while retailers can swiftly respond to market changes and offer personalized deals to consumers. Moreover, the growing inclination towards automation and digitization in the retail sector has further accelerated the adoption of Full Graphic ESLs, as it aligns with the industry's quest for streamlined processes and enhanced customer engagement. As this technology continues to evolve, its market growth appears unstoppable, promising a future where traditional paper tags become relics of the past, and digital innovations dominate the retail landscape.

Global Full Graphic Electronic Shelf Labels Market Drivers

Enhanced Customer Experience drives ESL adoption contributing to market growth.

Full Graphic ESLs revolutionize shopping with interactive displays, vivid images, product information, and promotions, enhancing customer engagement and loyalty. The immersive experience empowers customers, leading to informed decisions and heightened satisfaction. Real-time updates and dynamic pricing improve operational efficiency and market responsiveness, driving market growth as more retailers adopt this innovative technology. The continuous advancement of ESL further benefits the industry, creating a visually appealing and interactive shopping environment that elevates the overall retail experience.

Real-time Pricing and Promotions attract retailers to adopt Full Graphic ESL.

The real-time pricing capability of Full Graphic ESLs revolutionizes the retail industry, enabling retailers to effortlessly update prices and promotions across all shelves and stores simultaneously. This dynamic feature not only saves valuable time and reduces labour costs but also empowers retailers to swiftly adapt to market changes and respond to competitive pricing strategies with agility. The convenience and efficiency of managing pricing centrally become a compelling incentive for retailers to adopt Full Graphic ESLs.

Improved Inventory Management optimizes operations leading to improved operational efficiency.

Full Graphic ESLs provide retailers with a powerful tool to monitor and manage inventory levels efficiently. These digital labels offer real-time information on product availability, stock counts, and replenishment notifications, streamlining the entire inventory management process. By accessing up-to-date inventory data, retailers can effectively reduce instances of stockouts, prevent overstock situations, and optimize inventory-related costs, resulting in improved operational efficiency.

Sustainability and Waste Reduction initiatives favor the market growth of ESL.

Amid the growing emphasis on environmental responsibility, Full Graphic ESLs present retailers with a sustainable solution, replacing traditional paper-based price tags. These digital labels eliminate the necessity for paper labels and constant printing, resulting in a substantial reduction in paper waste. As retailers strive to embrace eco-friendly practices and demonstrate their commitment to sustainability, the adoption of Full Graphic ESLs aligns perfectly with their goals. This shift towards more environmentally conscious technologies not only minimizes the ecological footprint of the retail industry but also reflects the increasing consumer demand for greener and socially responsible business practices.

Global Full Graphic Electronic Shelf Labels Market Challenges:

Initial Implementation Costs pose challenges by reducing the penetration scope in the market.

For certain retailers, the upfront costs associated with implementing Full Graphic ESLs, such as hardware, software, and infrastructure setup, can be considerable. This initial investment may prove daunting, particularly for small and medium-sized businesses, potentially dissuading them from embracing the technology. However, despite these challenges, the long-term advantages in terms of cost savings and operational benefits make it a worthwhile endeavor.

Integration with existing systems requires careful planning creating delay and damage to the companies involved.

The integration of Full Graphic ESLs with existing retail systems, including point-of-sale (POS) and inventory management, demands meticulous planning and execution. Achieving seamless data synchronization and compatibility across diverse software platforms can prove to be a complex undertaking. Retailers must prioritize investing in robust integration strategies to prevent any disruptions to their operations. Ensuring a successful integration is crucial in leveraging the full potential of Full Graphic ESLs, as it enables real-time updates, accurate inventory tracking, and efficient pricing management.

Global Full Graphic Electronic Shelf Labels Market Opportunities:

Expansion of IoT and AI in Retail boosts ESL demand in the market.

The rising prevalence of Internet of Things (IoT) and Artificial Intelligence (AI) technologies in the retail industry empower Full Graphic ESLs to deliver personalized and context-aware shopping experiences. By seamlessly integrating with AI-driven recommendation systems and IoT sensors, these digital labels gain the capability to offer highly tailored product suggestions and promotions to individual customers. Leveraging real-time data and customer insights, Full Graphic ESLs can present relevant information at the right moment, enhancing customer engagement and satisfaction.

The emergence of Contactless Retail fuels ESL adoption creating a booming market for ESL.

The COVID-19 pandemic has rapidly accelerated the need for contactless shopping experiences, and in response, Full Graphic ESLs have emerged as a valuable solution. These digital labels allow for contactless price updates, eliminating the need for physical price tags and reducing the risk of transmission through surface contact. Moreover, Full Graphic ESLs enable touchless interactions with products, empowering customers to access detailed information without handling items directly. As the retail industry adapts to the new norm of contactless retail, the demand for Full Graphic ESLs is expected to soar, driving substantial growth in the market.

FULL GRAPHIC ELECTRONIC SHELF LABELS MARKET REPORT COVERAGE:

Global Full Graphic Electronic Shelf Labels Market Segmentation: By Display Type

• E-Ink (Electronic Ink)

• LCD (Liquid Crystal Display)

• Others

Based on segmentation by Display type, E-Ink (Electronic Ink) is more in demand in the Full Graphic Electronic Shelf Labels (ESL) market as they have lower power consumption, high visibility in various lighting conditions, and the ability to maintain a static image without using continuous power. Additionally, LCD is the fastest-growing segment among the above segments by display type due to its growing popularity among consumers.

Global Full Graphic Electronic Shelf Labels Market Segmentation: By Display Size

• Small (Less than 3 inches)

• Medium (3 to 6 inches)

• Large (More than 6 inches)

Based on segmentation by Display size, Medium-sized ESLs (3 to 6 inches) were generally more in demand compared to small or large sizes. Medium-sized displays struck a balance between providing enough space for displaying product information, images, and promotions while still being compact enough for easy installation on various shelving units. However, the small-sized ESLs (less than 3 inches) also have a popular base when it comes to using ESL in specific retail environments and is anticipated to be the fastest-growing segment where space is limited or where retailers prefer a more discreet placement of electronic labels.

Global Full Graphic Electronic Shelf Labels Market Segmentation: By Connectivity

• Wired

• Wireless

  • Wi-Fi

  • Bluetooth

  • Infrared

  • NFC (Near Field Communication)

  • Zigbee

  • Others

Based on the market segmentation by connectivity, the wireless connectivity option is more in demand in the ESL market. The wireless connectivity provides greater flexibility and convenience in deploying ESLs across retail stores. It allows for easy installation without the need for physical cables, making it more adaptable to various store layouts and shelf configurations. Additionally, wireless connectivity enables real-time updates and communication between ESLs and central systems, facilitating dynamic pricing, promotions, and inventory management efficiently.

Global Full Graphic Electronic Shelf Labels Market Segmentation: By End-User

• Hypermarkets

• Supermarkets

• Speciality Stores

• Others

  • Hotels

  • Restaurants

  • Healthcare

Based on the segmentation by End-User, both the Hypermarkets and supermarkets share a big demand for ESL because of their large-scale operations and extensive product offerings. The real-time updating capabilities of ESLs are particularly advantageous in these high-traffic retail environments. However, demand is generated by the specialty stores for enhancing their customer’s shopping experience, it is relatively lower due to their smaller scale and narrower product focus.

Global Full Graphic Electronic Shelf Labels Market Segmentation: By Region

• North America

•  Europe

•  Asia-Pacific

•  Middle East and Africa

•  South America

Based on regional segmentation, North America currently leads the Full Graphic ESL market due to its advanced retail infrastructure and tech-savvy consumer base. Moreover, the region is having a strong retail presence for being the largest market demand creator in the world and thereby requiring efficient inventory management. However, the Asia-Pacific region is poised to experience rapid growth, driven by increasing investments in retail automation and the expansion of organized retail.

Recent Industry Developments:

On Jan 6^th, 2022, Novago Cooperative extended its agreement with JRTech Solutions, Canada’s largest distributor of electronic shelf labels in North America.

Global Full Graphic Electronic Shelf Labels Market Key Players:

1. E Ink Holdings Inc.

2. Displaydata Ltd.

3. Samsung Electro-Mechanics Co. Ltd.

4. Pricer AB

5. Panasonic Corporation