North America Electronic Shelf Label Market is expected to reach US$ 359.2 Mn by 2027

Displays Segment to Dominate North America Electronic Shelf Label Market during 2019–2027

According to The Insight Partners market research study on “North America Electronic Shelf Label Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Components, Product Type, Store Type, and Communication Technology,” is expected to reach US$ 359.2 million by 2027 from US$ 124.7 million in 2019. The market is estimated to grow at a CAGR of 14.4% from 2020 to 2027. The report provides trends prevailing in the North America electronic shelf label market along with the drivers and restraints pertaining to the market growth. Fast adoption of game-changing technologies across the retail - value chain and rise in the use of IoT within retail industry are the major factor driving the growth of the North America electronic shelf label market. However, high cost hinders the growth of North America electronic shelf label market.

In case of COVID-19, North America is highly affected specially the US. North America has the highest adoption and growth rate of new technologies owing to favorable government policies to boost innovation and strengthen the infrastructure capabilities. Hence, any impact on industries is expected to affect the economic growth of the region in a negative manner. Presently, the US is the world’s worst affected country due to COVID-19 outbreak thereby influencing the high adoption of online shopping across the country. For instance, according to studies, Amazon recorded an increase in sales by 37% owing to the covid-19 pandemic. It is becoming apparent with the COVID-19 pandemic spreading across the United States that few can escape its scope, presenting significant challenges to all industries. The close down of all retail outlets by the government authorities coupled with the social distancing norms laid down by them is affecting the investments by retail outlets. For instance, the sales of online grocery segment across the United States, recorded an increase by 210.1% due to the pandemic. Thus, the above-mentioned factors are adversely affecting the electronic shelf label market over the years.

In our study, we have segmented the North America electronic shelf label market by components, store type, product type, communication technology, and country. The component segment includes displays, batteries, transceivers, microprocessors, and others. The displays segment dominated the North America market in 2019. On the basis of product type, the market is segmented into LCD ESL and E-Paper based ESL. The LCD ESL segment dominated the market in 2019 and E-Paper based ESL is expected to be fastest growing during forecast period. The store type segment includes hypermarkets, supermarkets, non-food retail stores, specialty stores, and others. The hypermarkets segment dominated the market in 2019.  Moreover, the market is bifurcated on the basis of communication technology, which includes radio frequency, infrared, near field communication, and others. The infrared segment dominated the market in 2019.

Diebold Nixdorf, Incorporated; Displaydata Limited; E Ink Holdings Inc.; eraoka Seiko Co., Ltd.; Opticon Sensors Europe B.V.; Pricer AB; Samsung Electro-Mechanics Co., Ltd.; SES-imagotag are among the leading companies in the North America electronic shelf label market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Co-op Group expanded its partnership with Diebold Nixdorf to include remote monitoring of self-service and point-of-sale (POS) systems and managed services throughout the United Kingdom.       

The report segments the North America electronic shelf label market as follows:

North America Electronic Shelf Label Market – By Components

• Displays
• Batteries
• Transceivers
• Microprocessors
• Others

North America Electronic Shelf Label Market – By Product Type

• LCD ESL
• E-Paper based ESL

North America Electronic Shelf Label Market – By Store Type

• Hypermarkets
• Supermarkets
• Non-Food Retail Stores
• Specialty Stores
• Others

North America Electronic Shelf Label Market – By Communication Technology

• Radio Frequency
• Infrared
• Near Field Communication
• Others

North America Electronic Shelf Label Market – By Country

• US
• Canada
• Mexico