Report: Electronic shelf label market to hit $1.4 billion by 2023
The electronic label market will be worth $1.4 billion by 2023, up from $392.2 million in 2017, according to a report by MarketsandMarkets. The market will also grow at a compound annual growth rate of 23.98 percent between 2017 and 2023.
The market is being driven by growing retail automation and the demand for more cost-efficient alternatives to paper labels. The full graphic e-paper ESL is expected to hold the largest share of the market, due to the demand for price automation from retailers.
Europe held the largest market share for ESL in 2016, due to early adoption, but other markets globally will also grow during the forecasted period, according to the release.