Digital Shelf Market - Future Scope with Upcoming Opportunities COVID- 19 Impact Analysis

• Digital shelf is the latest solution for price management and inventory in the retail sector, based on the use of advanced IT technology. The digital shelf market is expected to gain momentum, as digital shelf offers several benefits such as low labor cost and time efficiency.
• Digital shelf uses wireless communication networks, such as radio frequency and infrared technology, to communicate with back-end database. It is an emerging system, which has replaced conventional methods used in supermarkets, hypermarkets, and department stores. High-speed updates on pricing, promotional messaging, increase in readability, and contrast of distinct digital products also help improve product uplift and store margins.
• Digital shelf allows automatic price updating, thus reducing labor and staff costs significantly. Furthermore, proliferation of IoT technology in the retail sector is positively impact the adoption of the digital shelf system.
• Of late, leading players have shifted focus toward updating hardware and software of digital shelf systems in order to increase the in-store maintenance and efficiency of operations. Additionally, companies are developing customized solutions to meet specific needs of retailers.

 Growth in Adoption of Store Automation in Retail Sector Driving Digital Shelf Market

• Store automation is the new trend, as retailers have started adopting wireless digital shelf system in order to improve store maintenance and operational efficiency. Retailers are gradually adopting cost-efficient, fast, and reliable price labeling systems due to the development in infrastructure in the retail industry.

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Digital shelf is used in various retail stores such as hypermarkets and supermarkets. With the help of digital shelf, retail outlet owners can minimize labor costs, retain price integrity, and optimize inventory costs. This has boosted the adoption of digital shelf in the retail industry.

• Thus, rise in adoption of store automation and expansion of the retail sector are likely to boost the digital shelf market during the forecast period

Technological Advancements for Customer Experience Enhancements Boosting Digital Shelf Market

• Technological progression has a strong impact on the global digital shelf market. Digital shelf is equipped with advanced features, such as indoor mapping, long battery life, real-time two-way responsive system, and merchandising accessories, to enhance operational quality, security, and latency. These attributes are expected to propel the large-scale adoption of digital shelf across the globe.
• Customers are increasingly becoming digitally conscious. Digitization of the shopping environment helps provide better customer experience. This, in turn, is augmenting the market. Digitization initiatives taken by various countries across the globe are also driving the digital shelf market. However, lack of awareness about the benefits of the digital shelf system and high initial investment associated with it are anticipated to hamper the market in the near future.

North America to Hold Major Share of Global Digital Shelf Market

• In terms of region, the global digital shelf market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

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• North America is expected to account for prominent share of the global digital shelf market during the forecast period, due to advancements in technology and introduction of digital shelf applications with enhanced customer experience in the region.
• Europe and North America are anticipated to account for key shares of the global digital shelf market during the forecast period. However, the market in Asia Pacific and Middle East & Africa is estimated to expand at a faster pace in the near future.