PUBLISHER: Grand View Research | PRODUCT CODE: 1814038
PUBLISHER: Grand View Research | PRODUCT CODE: 1814038
The global electronic shelf label market size was estimated at USD 1.85 billion in 2024 and is projected to reach USD 7.54 billion by 2033, growing at a CAGR of 17.4% from 2025 to 2033. The market is primarily driven by the rising adoption of automation in retail to improve pricing accuracy and operational efficiency.
In addition, the growing demand for real-time product information and dynamic pricing in omnichannel retailing is accelerating market growth. The global retail sector is undergoing a transformative shift toward automation to streamline operations, reduce labor costs, and improve pricing accuracy. Electronic Shelf Labels (ESLs) play a vital role in this evolution by enabling retailers to automate price updates across thousands of products in real time. Traditional manual price tagging is not only time-consuming but also error-prone, which can result in inconsistencies and customer dissatisfaction. By adopting ESLs, retailers can ensure uniform pricing across stores and reduce dependency on human labor for routine pricing updates. For example, leading retailers like Walmart and Carrefour have piloted ESL deployments to enhance price agility, especially during promotional campaigns and flash sales.
With the rise of omnichannel retail, where physical and digital shopping experiences are integrated, pricing consistency across platforms has become critical. ESLs help achieve this synchronization by linking directly with central pricing systems and inventory databases. Furthermore, retailers are increasingly embracing dynamic pricing strategies adjusting prices based on demand, competitor pricing, or inventory levels. ESLs allow such price changes to be reflected instantly on store shelves, providing a competitive advantage. For instance, in grocery chains, prices for perishable items can be reduced dynamically lower prices for perishable items based on their remaining shelf life, reducing waste and improving inventory turnover.
Beyond pricing, ESLs enhance the overall shopping experience by offering rich, contextual product information such as discounts, nutritional details, or product origin. Some ESLs now incorporate QR codes or NFC technology, allowing customers to access additional product data or promotional offers via their smartphones. This level of digital interactivity bridges the gap between physical and online shopping, catering to tech-savvy consumers who expect convenience and transparency. Retailers such as Best Buy and MediaMarkt have adopted ESLs with color e-paper displays and interactive elements to provide a more engaging and informative in-store experience, leading to higher customer satisfaction and loyalty.
Retailers are increasingly prioritizing sustainability as part of their business strategy, and ESLs align well with these goals. By replacing paper labels, ESLs help reduce paper consumption and associated waste, contributing to a more environmentally friendly operation. Over time, ESLs also offer cost savings through reduced labor and material costs. While the initial investment in ESL infrastructure may be high, the long-term return on investment is favorable, especially for large-scale retailers managing thousands of SKUs.
Global Electronic Shelf Label Market Report Segmentation
This report forecasts revenue growth at a global level and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global electronic shelf label market report based on component, type, communication technology, size, application, and region: