Global Electronics Shelf Labels Market
Global Electronics Shelf Labels Market Size Zooming 3.2X to Cross USD 3.1 Billion by 2029
Published | 29 September 2023
Global electronics shelf labels market is flourishing due to increased adoption in retail for efficient pricing and inventory management, rising demand for automation and digitalization, improved customer experience, and cost savings.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global electronics shelf labels market size at USD 978 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global electronics shelf labels market size to grow at a robust CAGR of 21.5% reaching a value of USD 3,146 million by 2029. Key factors driving the global electronics shelf labels market include the growing usage of automation and digitization in retail environments. It helps in improving pricing and inventory management efficiency and accuracy. Electronic shelf labels (ESLs) are required due to the desire for real-time price updates and personalized shopping experiences. ESLs reduce labor expenses related to manual label updates, thereby encouraging their use. The market expansion is also aided by the expanding omnichannel commerce trend and the demand for effective supply chain management. IoT and wireless communication developments support the market's overall growth.
Global Electronics Shelf Labels Market – Overview
Electronics shelf labels are digital price tags used in retail stores to dynamically display product information. These electronic tags replace traditional paper labels, enabling real-time price updates and product details. Integrated with the store's inventory system, they streamline pricing management, reduce manual labor, and enhance pricing accuracy. The labels often utilize e-ink or LCD technology for energy efficiency and clear visibility. Electronic shelf labels improve the customer experience by ensuring consistent and up-to-date pricing information, while also offering retailers greater flexibility in adjusting prices and promotions.
Impact of COVID-19 on Global Electronics Shelf Labels Market
Global electronics shelf labels market witnessed significant disruption due to the COVID-19 pandemic. Lockdowns and supply chain disruptions led to reduced retail operations, impacting the adoption of electronic shelf labels. Retailers focused on essential goods, slowing down the implementation of advanced technologies. However, the pandemic also highlighted the need for contactless shopping experiences, potentially driving a future resurgence in the electronic shelf labels market as retailers seek to enhance safety measures and operational efficiency. The market's recovery hinges on the gradual reopening of economies and the integration of innovative solutions to meet evolving consumer preferences.
Global Electronics Shelf Labels Market – By Communication Technology
By communication technology, global electronics shelf labels market is divided into Radio Frequency, Infrared, and Near Field Communication segments. The radio frequency segment represents the largest share. This technology enables real-time pricing and information updates, enhancing efficiency in retail operations. Infrared and near field communication segments also contribute to the market's growth by offering their advantages, but radio frequency remains the dominant segment in driving innovation and convenience for both retailers and consumers.
Global electronics shelf labels market is fiercely competitive. Major companies in the market include E ink Holdings Inc., Displaydata Ltd, Samsung Electro-Mechanics Co. Ltd, Pricer AB, Panasonic Corporation, Altierre Corporation, Diebold Nixdorf, LG Corporation, M2 Communication Inc., SES-image tag, Wincor Nixdorf AG, and AdvanTech Inc. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in global electronics shelf labels market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Electronics Shelf Labels Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Electronics Shelf Labels Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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- Electronics Shelf Labels Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Component (Displays, Batteries, Transceiver, Microprocessors); By Communication Technology (Radio Frequency, Infrared, Near Field Communication); By Product Type (LCD, Segmented E-Paper, Full-Graphic E-Paper); By Store Type (Hypermarkets, Supermarkets, Non-food Retail Stores, Specialty Stores); By Display Size (Less than 3 Inch, 3–7 Inch, 7–10 Inch, More than 10 Inch); By Region (North America, Europe, Asia Pacific, Latin America), Middle East and Africa)
Publish Date: September 2023
Increasing adoption in retail for real-time price updates, operational efficiency, and reduced pricing errors, technological advancements, such as improved battery life and wireless connectivity, along with the demand for enhanced customer experiences, are driving the growth of Global Electronics Shelf Labels Market during the forecast period between 2023 and 2029.
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