A Look into the Global Use of ESL
All around the world, businesses are using ESL to digitize their systems, enhance operations, and increase chances of profitability.
The global market for Electronic Shelf Labels (ESL) continues to grow as businesses find and try different ways to update their operations and upgrade their facilities. Let’s take a look into the global use of ESL and see how its market is faring across different countries.
The current ESL Market
According to the Markets & Markets research website, as of 2021, the global market size of the ESL market is estimated to be USD 826 million. Business forecasts expected it to grow as big as USD 2,092 million by 2026, with a CAGR of 20.4% during the five-year period.
At a closer look, the ESL market sizes vary per region, with North America taking the lead. The Electronic Shelf Label (ESL) market size for North America is USD $350 million as per the 2019 study conducted by Graphical Research, with a CAGR of 10% from 2020 to 2026.
Europe is reported to have an estimated ESL market value of USD 300 million as of 2019, with an expected CAGR of 9% growth from 2020 to 2026, making it the second-largest ESL market in the world.
The region with the smallest ESL market size is the Asia Pacific region. According to studies by Business Market Insights, the ESL market size in the Asia Pacific is USD 117.1 million as of 2019. Based on the current ESL market activity in the region, it is expected to be as big as USD 498.4 million by 2027.
Which countries use ESL the most?
Several countries in the European region are currently using electronic shelf labels in their stores and businesses. The country with the most number of businesses using ESL is Germany, followed closely by the United Kingdom, France, Italy, Spain, and Russia. Recently, Newton electronic shelf label were installed in Sunka, a supermarket in Spain’s Catalonia region. Other European-based companies that installed ESL in their stores and facilities include Volkswagen (Germany), Carrefour (France), Migros (Switzerland), Real (Belgium), Expert (Denmark), The Whiskey Exchange (the UK), Natuur Winkel (the Netherlands), and Kotsolovos (Greece).
On the other hand, in the Asia-Pacific region, ESL-using countries include South Korea, China, Japan, Singapore, Malaysia, India, and Australia. Some of the Asian-based companies using ESL are Alibaba Group (China) and Samsung (South Korea).
You may browse through SOLUM case studies to see the various companies using our ESL.
What businesses have the highest ESL purchases?
According to global market studies, the type of businesses that have the highest usage and purchase of electronic shelf labels are groceries, supermarkets, hypermarkets, and non-food retail stores, although manufacturing facilities like Volkswagen and Diebold Nixdorf also use ESL to make their daily operations more efficient and cost-effective.
The probable future
Based on reports from various market research websites, the future of the ESL global market is very promising, with a positive growth prediction within the next five years in all regions. Additionally, the businesses’ continuous need to adapt to the latest technology serves as a driving force for the ESL market to expand.
Would you like to have a more detailed discussion regarding the ESL global market and how a partnership with SOLUM can make your business grow? Contact us today!