by The global Electronic Shelf Labels Market is estimated to be valued at US$ 97.92 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Electronic shelf labels (ESLs) are electronic displays attached to shelves in retail stores to display product and pricing information digitally rather than through printed paper labels. ESL systems allow retailers to conveniently and quickly update product and pricing information from a centralized data management system. This eliminates the need for printing and manually changing price tags which saves significant time and labor costs for retailers. ESLs also help prevent pricing errors and improve overall operational efficiency.
Market key trends:
One of the key trends in the electronic shelf labels market is the integration of IoT technology. IoT allows electronic shelf labels to be connected with store management systems enabling real-time updates. Retailers can remotely manage pricing and product information across all store locations through centralized network connectivity. IoT also facilitates advanced data analytics capabilities helping retailers optimize pricing strategies, track inventory levels and plan replenishment. Growing adoption of IoT is expected to further drive the demand for electronic shelf labels over the forecast period.
Porter’s Analysis
Threat of new entrants: Electronic shelf labels market requires huge capital investment for setting up manufacturing units which makes the threat of new entrants low.
Bargaining power of buyers: The presence of many established players have increased the bargaining power of the buyers in this market.
Bargaining power of suppliers: The suppliers have moderate bargaining power due to the availability of substitute components.
Threat of new substitutes: There exists a low threat of substitutes as electronic shelf labels offer unique advantages over paper price tags.
Competitive rivalry: High.
Key Takeaways
The Global Electronic Shelf Labels Market Size is expected to witness high growth, exhibiting CAGR of 16% over the forecast period, due to increasing retail automation.
Regional analysis: North America dominates the global electronic shelf labels market and is expected to continue its dominance over the forecast period owing to high acceptance of advanced technologies. Asia Pacific region is expected to exhibit the fastest growth in the electronic shelf labels market propelled by growing retail sector in emerging countries like China and India.
Key players operating in the electronic shelf labels market are SES-Imagotag, Pricer AB, Displaydata, Opticon Sensors Europe B.V, Samsung Electro-Mechanics, NZ Electronic Shelf Labelling, M2Communication, Diebold Nixdorf, Altierre, Teraoka Seiko, Advantech US, E Ink, Toshiba Global Commerce Solutions, SESimagotag, E-Ink, Wuxi Wei Feng Technology, and Cicor. SES-Imagotag holds the largest market share in the global electronic shelf labels market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
