Electronic Shelf Labels Market Size, Share & Analysis

The research study involved 4 major activities in estimating the size of the electronic shelf labels market. Exhaustive secondary research has been done to collect important information about the market and peer markets. The validation of these findings, assumptions, and sizing with the help of primary research with industry experts across the value chain has been the next step. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.

Secondary Research

In secondary research, various secondary sources have been referred to for obtaining the information that was needed for the study. Various secondary sources that were used for the research include, corporate filings such as annual reports, press releases, investor presentations, and financial statements, trade, business, and professional associations, whitepapers, journals based on electronic shelf labels, certified publications, and articles from recognized authors and databases.

In the electronic shelf labels market report, the top-down as well as the bottom-up approaches have been used for the estimation of the global market size, along with several other dependent submarkets. The major players in the market were identified with the help of extensive secondary research and their presence in the market was determined using secondary and primary research. All the percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Primary Research

Extensive primary research has been conducted after understanding the electronic shelf labels market scenario through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across 4 major regions-North America, Europe, Asia Pacific, and the Rest of the World. Approximately 25% of the primary interviews have been conducted with the demand-side vendors and 75% with the supply-side vendors. Primary data has been collected mainly through telephonic interviews, which consist of 80% of the total primary interviews; questionnaires and emails have also been used to collect the data.

After successful interaction with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings of our primary research. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the report.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the market engineering process, both top-down and bottom-up approaches along with data triangulation methods have been used to estimate and validate the size of the electronic shelf labels market and other dependent submarkets. The research methodology used to estimate the market sizes includes the following:

• Identifying different stakeholders in the electronic shelf labels market that influence the entire market, along with participants across the value chain.
• Analyzing major manufacturers' electronic shelf labels (OEMs) as well as studying their product portfolios
• Analyzing trends related to the adoption of electronic shelf labels based on application
• Tracking the recent and upcoming developments in the market that include investments, R&D activities, product launches, collaborations, mergers & acquisitions, and partnerships, as well as forecasting the market size based on these developments and other critical parameters
• Carrying out multiple discussions with key opinion leaders to identify the adoption trends of electronic shelf labels
• Segmenting the overall market into various other market segments
• Validating the estimates at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts at MarketsandMarkets

Market Size Estimation Methodology-Bottom-up Approach

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the overall electronic shelf labels market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, the data triangulation and market breakdown procedures have been used, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The electronic shelf labels market size has been validated using both top-down and bottom-up approaches.

The main objectives of this study are as follows:

• Define, analyze, and forecast the electronic shelf labels market, in terms of value, segmented based on component, product type, communications technology, display size, application, and region
• Define, analyze, and forecast the electronic shelf labels market, in terms of volume, based on display size
• Forecast the market size for various segments with respect to 4 main regions: North America, Europe, Asia Pacific, and Rest of the World
• Provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the electronic shelf labels market
• Study the complete value chain and related industry segments, and perform a value chain analysis for the market
• Strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market
• To analyze industry trends, pricing trends, patents and innovations, and trade data (export and import data), regulatory environment, Porter’s five forces analysis, case studies, key stakeholders & buying criteria, technology trends, the market ecosystem, and key conferences and events related to the electronic shelf labels market
• Analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
• Strategically profile the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
• To analyze competitive developments such as product launches/developments, expansions, acquisitions, and research and development (R&D) activities carried out by players in the electronic shelf labels market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Country-Wise Information:

• Analysis for additional countries (up to 5)

Company Information:

• Detailed analysis and profiling of additional market players (up to 5)

Outlook and Growth Electronic Shelf Labels and Digital Price Tags Market

The digital price tag or electronic price tag market is closely connected to the electronic shelf labels (ESL) market. ESLs are digital displays that show pricing information on shelves in retail environments, and they are typically wirelessly connected to a central server that can update the pricing information in real-time. This allows retailers to easily and quickly update prices, promotions, and other product information.

Similarly, digital price tags or electronic price tags are also digital displays that can show pricing information for products in a retail environment. These displays can be attached to individual products, rather than placed on shelves, and can also be wirelessly connected to a central server that updates pricing information in real-time.

The connection between these markets is driven by the need for retailers to streamline their pricing and promotional strategies. ESLs and digital price tags offer a more efficient and accurate way to update pricing information compared to traditional paper tags or labels. They also allow retailers to quickly implement promotions or price changes, which can help them remain competitive in a fast-moving retail environment.

As a result, the adoption of ESLs and digital price tags is expected to continue to grow, and many retailers are likely to invest in these technologies to improve their operations and increase their sales. This is driving innovation in both the mobility electronic shelf labels and digital price tag markets, and we can expect to see new and advanced technologies emerge in the future.

How Digital Price Tag or electronic price tag is going to impact the electronic Shelf labels market?

The emergence of digital price tags or electronic price tags is likely to impact the electronic shelf labels (ESL) market in several ways:

Increased competition: With the availability of digital price tags, retailers now have another option for displaying pricing information in their stores. This increased competition could lead to price pressures on ESL providers, who may need to offer more competitive pricing or enhanced features to remain competitive.

Differentiation: ESL providers may need to differentiate themselves from digital price tag providers by offering additional features, such as the ability to display more detailed product information or provide in-store navigation assistance.

Market expansion: The availability of digital price tags may also lead to an expansion of the overall market for electronic displays in retail environments. As retailers become more comfortable with digital displays, they may be more likely to adopt ESLs or other types of digital displays in their stores.

Consolidation: The emergence of digital price tags could also lead to consolidation in the ESL market, as smaller providers may struggle to compete with larger, more established players.

Some futuristic growth use-cases of Digital price tag market?

The digital price tag market is rapidly evolving, and there are many potential growth use-cases that could shape its future. Here are some futuristic growth use-cases of digital price tags:

Personalization: Digital price tags could be used to personalize pricing and promotions based on individual shopper behavior, preferences, and purchase history. For example, a digital price tag could display a personalized discount for a shopper based on their previous purchases.

Augmented reality: Digital price tags could be combined with augmented reality (AR) technology to create interactive shopping experiences. Shoppers could use their smartphones or AR-enabled glasses to view additional product information, see how products look in different colors or styles, or access reviews and ratings.

Sustainability: Digital price tags could be used to reduce waste and promote sustainability. Retailers could eliminate the need for disposable paper price tags, which would reduce their environmental impact. Additionally, digital price tags could be used to display information about the environmental impact of products, such as their carbon footprint.

Data analytics: Digital price tags could be used to collect and analyze data on shopper behavior and preferences. Retailers could use this data to optimize pricing and promotions, improve product placement and inventory management, and create personalized shopping experiences.

Contactless payments: Digital price tags could be integrated with contactless payment systems, allowing shoppers to pay for products directly from the tag. This would streamline the checkout process and reduce the need for shoppers to interact with traditional cash registers or checkout counters.

Industries That Will Be Impacted in the Future by Digital Price Tags

Digital price tags have the potential to impact several industries beyond just retail. Here are a few examples:

Healthcare: Digital price tags can be used in the healthcare industry to track inventory levels and prices of medical supplies, medicines, and equipment in hospitals and clinics. This can help streamline supply chain management and reduce errors in pricing.

Hospitality: In the hospitality industry, digital price tags can be used in hotels to display real-time pricing and availability of rooms, amenities, and services. This can provide guests with more accurate and up-to-date information and help hotels optimize their pricing strategies.

Logistics and transportation: Digital price tags can be used in logistics and transportation to track inventory levels, prices, and shipping information of products and goods. This can help streamline supply chain management and improve the efficiency of logistics operations.

Agriculture: In the agriculture industry, digital price tags can be used to track inventory levels and prices of crops, fertilizers, and other agricultural products. This can help farmers optimize their pricing strategies and improve their supply chain management.

Manufacturing: Digital price tags can be used in the manufacturing industry to track inventory levels and prices of raw materials, components, and finished products. This can help manufacturers optimize their supply chain management and improve their production processes.

Growth Opportunities and Key Challenges for Electronic Price Tags in the Future

Growth Opportunities:

Increasing Adoption of Digital Technologies: The increasing adoption of digital technologies in various industries is expected to drive the growth of the electronic price tag market. The demand for digital price tags is expected to grow as more retailers, hospitals, and other industries look to digitize their operations.

Rising Demand for Automation: The growing demand for automation in various industries is expected to boost the growth of the electronic price tag market. Electronic price tags can help automate pricing and inventory management, reducing the need for manual intervention and improving efficiency.

Growing E-commerce Industry: The e-commerce industry is growing rapidly, and electronic price tags can help online retailers automate pricing and inventory management, providing a seamless shopping experience for customers.

Increased Customization and Personalization: Electronic price tags can be customized to display different types of information, such as pricing, product information, and promotions. This can provide a personalized shopping experience for customers and help retailers improve customer engagement.

Key Challenges:

High Initial Investment: The initial investment required to implement electronic price tags can be high, which can be a major challenge for smaller retailers and businesses.

Limited Market Penetration: The market penetration of electronic price tags is still relatively low, which can be a challenge for companies looking to expand their offerings in this space.

Limited Compatibility: Electronic price tags may not be compatible with all types of products and industries, which can limit their adoption in certain markets.

Privacy and Security Concerns: Electronic price tags can raise privacy and security concerns, particularly in industries such as healthcare, where patient data must be kept confidential.