Electronic shelf labels (ESLs) help enhance the overall shopping experience through dynamic, real-time pricing updates at shelf-level. These digitally printed shelf labels are used across various product categories in retail stores such as supermarkets, hypermarkets and department stores. ESLs deliver multiple advantages over conventional paper shelf labels including rapid price updates, flexible inventory management, and energy-efficient displays. With growing customer focus on convenience and productivity, ESLs have emerged as a preferred solution for optimized retail operations.
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 key trends:
One of the key trends in the electronic shelf labels market is the integration of IoT technology. Major players are focusing on developing IoT-enabled ESLs to gain a competitive edge. For instance, Pricer AB offers ESLs integrated with its Pricer Cloud platform for connected shelf-edge services and real-time monitoring. These IoT-integrated ESLs enable enhanced inventory tracking, predictive analytics, and easy integration with other retail technologies. Their connectivity capabilities facilitate automated price updates, planogram compliance checks from a remote location, and energy efficiency. The growing adoption of IoT in the retail sector is expected to drive the demand for connected ESLs during the forecast period.
Threat of new entrants: Low barriers of entry allow new competitors to enter the market easily. However, established players have strong brand reputation and economies of scale.
Bargaining power of buyers: Large retailers have significant bargaining power due to the volume of procurement. They can negotiate on price and demand better services.
Bargaining power of suppliers: A few large players dominate the supply market. This gives them control over pricing and ability to influence competitors.
Threat of new substitutes: Alternatives like traditional paper tags exist but electronic labels provide enhanced features and better functionality.
Competitive rivalry: The market has several global and regional players competing on technology, pricing, services and product features. This intense competition drives innovation.
The Global Electronic Shelf Labels Market Demand is expected to witness high growth. 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.
North America currently dominates the market due to high demand from large US retailers for enhancing customer experience. Increased supermarket automation and growth of organized retail sector in countries like India and China is fueling adoption in Asia Pacific.
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 leads the market with innovative product portfolio while Pricer AB has a strong presence in the US. Asian players are focusing on the fast growing APAC region.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it