Consistent expansion of the e-commerce sector and the increase in the number of retail stores will positively impact the North America electronic shelf label (ESL) market outlook. Significant developments have been observed across the logistics sector in the developing regions across the continent.
The rising adoption of smart appliances and the regulation of various government initiatives in the U.S has led to the influx of automated and advanced technological products. Furthermore, the advent of the industrial revolution in the country has substantially contributed to numerous data evolution opportunities to finetune the store operations across the manufacturing sector and supply chain management.
Reports suggest that the North America electronic shelf label (ESL) market size will reach USD 440 million in valuation by 2024.
Increasing preference for LCD products
The demand for LCD products collected a dominant revenue share in the ESL industry for the North America region. The growth can be attributed to their low unit costs and robust capacity to store enormous quantities of data besides showcasing diverse product information. Furthermore, LCDs are gaining higher popularity as they provide variations like 3D and high definition screens.
Lower power consumption through segmented e-paper products
Annual remuneration from segmented e-paper products in the North America electronic shelf label market is anticipated to reach a significant amount through the coming years. This is due to the growing preference for these products as they render multi-color displays and minimum power consumption in low to high-end applications.
There is an optimum availability of these e-papers and hence they are widely deployed across retail stores to display the list of technical products, while simultaneously enabling simplified customer communication.
Higher deployment of IR technology
North America electronic shelf label market value from the IR technology segment is estimated to record an exponential CAGR up to 2024 considering the affordable process and high security offered by this platform. Deployment of IR technology in the electronic shelf labels puts forward a broad communication range and provides ESL upgrades. It also renders a transmission range of over 30 meters and an uninterrupted signal transfer.
Demand for wireless connectivity
The industry share of RF communication technology will garner significant traction through the same timeframe. This is owing to the rising demand for this technology platform as it is easily incorporated in advanced and wireless connectivity devices like Bluetooth and NFC. ESL software when integrated with RF communication technology facilitates the transmission of digitally coded signals. It also permits two-directional communication with the help of product tags to further provide regular upgrades and feedback.
Need for automation in hypermarkets
Hypermarkets held a dominant global revenue share for the North America electronic shelf label market in the past few years. This can be owed to the growing preference for automated products in these retail stores. The deployment of electronic shelf label technology renders cost-effective benefits and has assisted hypermarket owners with limited human involvement in regular maintenance activities. Besides, the influx of automation and digitization across these retail stores has curbed the need for product marketing by the store owners and customers.
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ESL manufacturers are coming up with technically advanced and smart innovations considering the rising demand from consumers across the region on account of their increased spending abilities. These participants are also keen on marketing initiatives like contracts and partnerships with some of the leading retail firms like Walmart to expand their presence and revenue.
Pricer AB, LG Innotek, Wincor Nixdorf, Displaydata, M2Communication Hosting, SES Imagotag, Solu M, CEST, Altierre Corporation, SES-Imagotag, and E Ink Holding Inc., are some of the prominent brands in the business.
Electronic shelf label systems impart enhanced product display benefits. They display modules on electronic paper or LCD devices to render customers with overall product information and price specifications. Owing to this, the systems witness increasing presence in small and big retail stores, specialty and hyper stores, factory outlets, as well as malls. Their penetration across these stores can also be attributed to the surge in the number of initiatives that have been regulated for infrastructure development.
Table of content:
Chapter 1.Methodology & Scope
- Market scope & definitions
- Research methodology
Chapter 3.Industry Insights
- Industry segmentation
- Industry ecosystem analysis
- Industry impact forces
- Growth drivers
- Growth restraints
- Regulatory overview
- Porter’s analysis
- PESTEL analysis
- Competitive landscape, 2017
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