Electronic shelf labels (ESLs) are replacing paper-printed shelf labels found in many retail stores. ESLs are digital displays attached to retail shelves or items which can be updated remotely in real-time. ESLs help retailers update pricing and product information quickly without sending staff to manually remove outdated labels and print new ones. This improves price and content accuracy on shelves. ESLs also allow for convenient promotions and discounts by changing pricing digitally rather than reprinting shelf tags.

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 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The rapid adoption of automation technologies across the retail industry has been a major driver of growth for electronic shelf labels. ESLs eliminate the time and costs associated with manual labeling tasks. They empower retailers to change pricing frequently for promotional activities with the push of a button rather than dispatching employees. ESLs also reduce waste from thrown away paper tags. The ability of ESLs to be updated in real-time from a central control system has helped many large retailers implement dynamic pricing strategies more effectively based on inventory levels, sales trends and competition. This has boosted revenues and inventory turns.

SWOT Analysis

Strength: Electronic Shelf Labels allow for real-time pricing and product information updates across all store locations, improving inventory management and reducing costs of manual label changes. They enable targeted product promotions and discounts based on customer demographics and purchase history. Electronic labels also help reduce energy consumption compared to traditional paper shelf labels that require frequent replacement.
Weakness: High initial investment costs are required for hardware infrastructure and installation of electronic labels on all shelves across stores. Technical issues like network connectivity problems can cause label display malfunctions. Dependence on hardware components makes the system vulnerable to technical faults and downtime.
Opportunity: Growing retail automation and integration of Internet of Things technologies provide an opportunity to develop advanced features in electronic shelf labels like computer vision for replenishment tracking. Increasing consumer preference for more engaging in-store shopping experiences through digital signage can boost adoption. Partnerships with retailers offer scope for wider geographical expansion.
Threats: Stiff competition from established players may restrict new market entrants. Dependence on a few technology providers poses risks of disruptions from mergers or bankruptcies. Stringent regulations around consumer data privacy and security threaten the potential of personalized digital promotions based on customer information.

Key Takeaways

The Global Electronic Shelf Labels Market Size  is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 97.92 million by 2024, expanding at a CAGR of 10%.

Regional analysis: North America currently dominates the market owing to high technology adoption among major retail chains. However, Asia Pacific is expected emerge as the fastest growing region owing to rapidly growing retail sector in countries like China, India and growing penetration of digital technologies. Countries like Japan and South Korea also offer substantial opportunities owing to established electronics industry.

Key players: 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. These players are focusing on new product launches and partnerships with retailers to strengthen their presence across different geographies.

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