[193 Pages Report] The Electronic Shelf Label Market size was estimated at USD 1.57 billion in 2023 and expected to reach USD 1.76 billion in 2024, at a CAGR 13.20% to reach USD 3.74 billion by 2030.
Retail stores use electronic shelf labels (ESLs) to display the prices of their products. Electronic shelf labels are designed to display product information such as the name, price, description, and other relevant data, and they can be easily updated wirelessly and in real time. ESLs consist of a small, battery-powered display attached to the edge of a shelf or a fixture and are controlled by a central server or a cloud-based platform communicating with the labels through wireless technologies, such as Wi-Fi or Bluetooth Low Energy (BLE). Stringent environmental regulation on the usage of paper and plastic is driving retailers worldwide to adopt electronic shelf labels that help in enhancing sales and brand value. The ongoing automation in the retail sector is expanding the adoption of electronic shelf labels across retail stores, such as appliance stores, convenience stores, department stores, and supermarkets. However, high installation and limited supportive infrastructure hamper electronic shelf labels market growth. Increasing the introduction of wireless standards for the electronic shelf label (ESL) is expected to create opportunities for the growth of the market.
The increasing adaptation of automation and Internet of Things (IoT) services in retail sectors with favorable governmental rules and regulations across the United States, Canada, Mexico, and Brazil has boosted the need for electronic shelf labels. The Asia-Pacific region's retail sector is revamping its business operations by adopting cutting-edge technologies such as artificial intelligence, big data analytics, augmented reality, virtual reality, and robots to play in the digital transformation of retail stores across emerging nations. Gofrugal's marketing team, a cloud ERP company for retail businesses currently working with over 40000 Kirana stores across India, announced 5,000+ businesses in the next six months in July 2021 with the entire Kirana ecosystem adaptation such as a perpetual inventory management solution, the first step toward creating a supply chain equilibrium. Thus, an increase in efforts for retail automation is expected to create a platform for electronic shelf labels in Asia-Pacific.
The market dynamics represent an ever-changing landscape of the Electronic Shelf Label Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Electronic Shelf Label Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Electronic Shelf Label Market.
The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Electronic Shelf Label Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.
The value chain of the Electronic Shelf Label Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.
The pricing analysis comprehensively evaluates how a product or service is priced within the Electronic Shelf Label Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Electronic Shelf Label Market.
The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Electronic Shelf Label Market.
The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Electronic Shelf Label Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.
The trade analysis of the Electronic Shelf Label Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.
The regulatory framework analysis for the Electronic Shelf Label Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Electronic Shelf Label Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Electronic Shelf Label Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Aldi and Lidl Roll Out Electronic Shelf Labels.
Aldi and Lidl announced plans to introduce ESL technology into their stores across Europe. According to the link provided, Aldi and Lidl are expected to use a system developed by Prisync to gain real-time visibility of product availability and prices. This move indicates an increasing focus on optimizing in-store processes and customer experience, which could result in significant cost savings for these retail chains. [Published On: 2023-04-28]
ICA Malmborgsgruppen Chooses Next-Generation Electronic Shelf Labels.
ICA Malmborgsgruppen's decision to adopt next-generation electronic shelf labels (ESLs) reflects the growing importance of digital technology in retail operations. By utilizing this cutting-edge technology, ICA Malmborgsgruppen can provide their customers with better services in terms of availability, convenience, and cost savings. [Published On: 2023-04-20]
Hanshow Presents New IoT Technologies at EuroShop 2023.
Hanshow Technology, a provider of retail technology solutions, recently showcased its new IoT technologies at EuroShop 2023. The new solutions provide retailers with the opportunity to leverage the power of IoT in their store operations and customer experience. The company’s flagship product is the Electronic Shelf Label (ESL), which allows retailers to automatically update prices and product information in real time across all their stores. This ensures that customers receive accurate and up-to-date information about the products they are interested in and enables them to make informed purchasing decisions. Hanshow’s technology also offers advanced analytics capabilities, allowing retailers to track sales data across stores and better understand customer behavior. This can help them optimize their processes and operations, as well as create targeted promotions based on data insights. [Published On: 2023-02-28]
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Electronic Shelf Label Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
The report delves into recent significant developments in the Electronic Shelf Label Market, highlighting leading vendors and their innovative profiles. These include ADVANTECH AE, Diebold Nixdorf, Incorporated, Digety UG (limited liability) & Co. KG, Displaydata Limited, Epishine AB, Guangzhou Mengbian Information Technology Co., Ltd., Hangzhou Ontime I.T. Co., Ltd., Hangzhou Zkong Network Technology Co., Ltd., Hanshow Technology Co., Ltd., LabelNest, LANCOM Systems GmbH, MOKOsmart, NZ Electronic Shelf Labelling, Opticon Sensors Europe B.V., Panasonic Connect Europe GmbH, Pricer AB, Retail Solutions Pro DBA, S&K Solutions GmbH & Co. KG, Sen Security Solutions, Ses-Imagotag, Shanghai Sunmi Technology Co., Ltd., Shenzhen Minew Technologies Co., Ltd., Silicon Laboratories, Inc., SoluM Europe GmbH, SureSolutions by Deki Electronics Ltd, Teraoka Seiko Co., Ltd., TroniTAG GmbH, YalaTech Co., Ltd., and ZhSunyco.
This research report categorizes the Electronic Shelf Label Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Component
- Batteries
- E-ink Display
- Microcontroller
- Microprocessors
- Radio
- Transceiver
- Product Type
- Full Graphic E-paper ESLs
- LCD ESLs
- Segmented E-paper ESLs
- Technology
- Infrared
- Near Field Communication
- Radio Frequency
- Display Size
- 3 to 7 Inches
- 7 to 10 Inches
- Less than 3 Inches
- More than 10 Inches
- Distribution Channel
- Convenience Stores
- Hypermarkets
- Non-Food Retail Stores
- Specialty Stores
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
- Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
- Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
- Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
- Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
- What is the current market size and projected growth?
- Which products, segments, applications, and regions offer promising investment opportunities?
- What are the prevailing technology trends and regulatory frameworks?
- What is the market share and positioning of the leading vendors?
- What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Electronic Shelf Label Market, by Component
- Electronic Shelf Label Market, by Product Type
- Electronic Shelf Label Market, by Technology
- Electronic Shelf Label Market, by Display Size
- Electronic Shelf Label Market, by Distribution Channel
- Americas Electronic Shelf Label Market
- Asia-Pacific Electronic Shelf Label Market
- Europe, Middle East & Africa Electronic Shelf Label Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 26]
- List of Tables [Total: 476]
- List of Companies Mentioned [Total: 29]
Government initiatives have played a crucial role in driving the digitalization of retail stores. In countries such as Japan, France, and Germany, the government has incentivized ESL adoption to improve retail efficiency and accuracy in pricing. ESLs allow in-store management, allowing changes to be made in real-time, removing the need for staff to manually update prices.
The benefits of ESL adoption also extend to customers. ESLs display accurate pricing, ensuring shoppers can easily identify the price of products on display without referring to confusing or outdated price tags. Moreover, ESLs can be customized to display additional product information, including allergens, nutritional information, and descriptions, which can help customers make informed purchase decisions.
ESLs can also help improve customer experiences by reducing waiting times. Retailers can use ESLs to manage queues, display estimated wait times, and redirect customers to less busy checkouts. ESLs offer an opportunity to reduce queue times, increasing customer satisfaction and loyalty.
ESLs can also improve inventory management. With real-time updating, retailers can manage inventory levels and restock in real-time, ensuring popular items are always in stock. ESLs can also display inventory levels in real-time for customers, allowing them to identify products that may be out of stock and reduce frustration.
As digital technology advances, so will the adoption of electronic shelf labels within our shopping experiences. With real-time updates, greater inventory management capabilities, improved pricing accuracy, and customer satisfaction, electronic shelf labels have become essential for retailers wishing to stay relevant in today's digital world. Adopting ESLs will undoubtedly lead to cost savings, improved efficiencies, and increased sales as customers benefit from better shopping experiences. Retailers should seek to implement ESLs in their stores to benefit from improving processes and benefit both their customers and their bottom line.
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