North America Electronic Shelf Label Market to Grow at a CAGR of 14.4% to reach US$ 359.2 Million from 2020 to 2027
The North America electronic shelf label market is expected to grow from US$ 124.7 million in 2019 to US$ 359.2 million by 2027; it is estimated to grow at a CAGR of 14.4% from 2020 to 2027.
The US, Canada, and Mexico are major economies in North America. Fast adoption of game-changing technologies across the retail - value chain is expected to escalate the North America electronic shelf label market. Technology is projected to be the key driver of this industry transformation. The success of the industry participants highly depends upon the relentless focus on the application of various technologies for enhancement of the value-added services to consumers. Advanced technologies have played a critical role in the transformation of retail. For instance, in North America, Pricer provides ESL enables with Bluetooth technology that help the consumers to have an access on product information. Over the next ten years, all of these technologies are expected to attain significant maturity in the retail industry, creating an unprecedented level of disruption. In particular, artificial intelligence is predicted to be most transformational for the retail industry due to its widespread applications, ability to drive efficiencies and impact on labor. Internet of things (IoT) in retail would have a positive impact on the retail sector. With the rapid growth in the outlook of online shopping, retailers are looking forward to bring frictionless customer experience into online shopping for customers. The use of IoT in retail is growing at an exponential rate, and therefore both retailers and technology developers are looking forward to providing an environment of the connected consumer in brick-and-mortar locations. Therefore, the ESL developers across North America are working closely to develop more technologies through robust R&D such as development of ePaper, battery free-solutions and more, which is expected to drive the North America electronic shelf label market during forecast period.Further, 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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America electronic shelf label market. The North America electronic shelf label market is expected to grow at a good CAGR during the forecast period.
North America Electronic Shelf Label Market Segmentation
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 – ByCommunication Technology
- Radio Frequency
- Infrared
- Near Field Communication
- Others
North America Electronic Shelf Label Market, by Country
- US
- Canada
- Mexico
North America Electronic Shelf Label Market -Companies Mentioned
- 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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Components, Product Type, Store Type, and Communication Technology
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Electronic Shelf Label Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Electronic Shelf Label Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Fast adoption of game-changing technologies across the retail - value chain
5.1.2 Rise in the use of IoT within retail industry
5.2 Key Market Restraints
5.2.1 High Cost
5.3 Key Market Opportunities
5.3.1 Merging of Industry 4.0 for automation and smart management
5.4 Future Trend
5.4.1 Rise of battery-free solutions
5.5 Impact Analysis of Drivers and Restraints
6. Electronic Shelf Label Market – North America Analysis
6.1 North America Electronic Shelf Label Market Overview
6.2 North America Electronic Shelf Label Market Forecast and Analysis
6.3 Market Positioning- Top Five Players
7. North America Electronic Shelf Label Market Analysis – By Component
7.1 Overview
7.2 North America Electronic Shelf Label Market Breakdown, By Component, 2019 & 2027
7.3 Display
7.3.1 Overview
7.3.2 Display Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 Battery
7.4.1 Overview
7.4.2 Battery Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 Transceiver
7.5.1 Overview
7.5.2 Transceiver Market Revenue and Forecasts to 2027 (US$ Mn)
7.6 Microprocessor
7.6.1 Overview
7.6.2 Microprocessor Market Revenue and Forecasts to 2027 (US$ Mn)
7.7 Others
7.7.1 Overview
7.7.2 Others Market Revenue and Forecasts to 2027 (US$ Mn)
8. North America Electronic Shelf Label Market Analysis – By Product Type
8.1 Overview
8.2 North America Electronic Shelf Label Market Breakdown, By Product Type, 2019 & 2027
8.3 LCD ESL
8.3.1 Overview
8.3.2 LCD ESL Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 E-paper based ESL
8.4.1 Overview
8.4.2 E-paper Based ESL Market Revenue and Forecasts to 2027 (US$ Mn)
9. North America Electronic Shelf Label Market Analysis – By Store Type
9.1 Overview
9.2 North America Electronic Shelf Label Market Breakdown, By Store Type, 2019 & 2027
9.3 Hypermarkets
9.3.1 Overview
9.3.2 Hypermarkets Market Revenue and Forecasts to 2027 (US$ Mn)
9.4 Supermarkets
9.4.1 Overview
9.4.2 Supermarkets Market Revenue and Forecasts to 2027 (US$ Mn)
9.5 Non-Food Retail Stores
9.5.1 Overview
9.5.2 Non-Food Retail Stores Market Revenue and Forecasts to 2027 (US$ Mn)
9.6 Specialty Stores
9.6.1 Overview
9.6.2 Specialty Stores Market Revenue and Forecasts to 2027 (US$ Mn)
9.7 Others
9.7.1 Overview
9.7.2 Others Market Revenue and Forecasts to 2027 (US$ Mn)
10. North America Electronic Shelf Label Market Analysis – By Communication Technology
10.1 Overview
10.2 North America Electronic Shelf Label Market Breakdown, By Communication Technology, 2019 & 2027
10.3 Radio Frequency
10.3.1 Overview
10.3.2 Radio Frequency Market Revenue and Forecasts to 2027 (US$ Mn)
10.4 Infrared
10.4.1 Overview
10.4.2 Infrared Market Revenue and Forecasts to 2027 (US$ Mn)
10.5 Near Field Communication
10.5.1 Overview
10.5.2 Near Field Communication Market Forecast and Analysis
10.6 Others
10.6.1 Overview
10.6.2 Others Market Forecast and Analysis
11. North America Electronic Shelf Label Market – Country Analysis
11.1 Overview
11.1.1 North America Electronic Shelf Label Market Breakdown, by Key Countries
11.1.1.1 US Electronic Shelf Label Market Revenue and Forecasts to 2027 (US$ Mn)
11.1.1.1.1 US Electronic Shelf Label Market Breakdown By Component
11.1.1.1.2 US Electronic Shelf Label Market Breakdown By Product Type
11.1.1.1.3 US Electronic Shelf Label Market Breakdown By Store Type
11.1.1.1.4 US Electronic Shelf Label Market Breakdown By Communication Technology
11.1.1.2 Canada Electronic Shelf Label Market Revenue and Forecasts to 2027 (US$ Mn)
11.1.1.2.1 Canada Electronic Shelf Label Market Breakdown By Component
11.1.1.2.2 Canada Electronic Shelf Label Market Breakdown By Product Type
11.1.1.2.3 Canada Electronic Shelf Label Market Breakdown By Store Type
11.1.1.2.4 Canada Electronic Shelf Label Market Breakdown By Communication Technology
11.1.1.3 Mexico Electronic Shelf Label Market Revenue and Forecasts to 2027 (US$ Mn)
11.1.1.3.1 Mexico Electronic Shelf Label Market Breakdown By Component
11.1.1.3.2 Mexico Electronic Shelf Label Market Breakdown By Product Type
11.1.1.3.3 Mexico Electronic Shelf Label Market Breakdown By Store Type
11.1.1.3.4 Mexico Electronic Shelf Label Market Breakdown By Communication Technology
12. Impact of COVID-19 Pandemic on North America Electronic Shelf Label Market
12.1 North America: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Market Initiative
14. Company Profiles
14.1 Diebold Nixdorf, Incorporated
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Product & Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Displaydata Limited
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Product Portfolio
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 E Ink Holdings Inc.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Product & Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Opticon Sensors Europe B.V.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Pricer AB
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 SES-imagotag
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Samsung Electro-Mechanics Co., Ltd.
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Teraoka Seiko Co., Ltd.
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Glossary
LIST OF TABLES
Table 1. North America Electronic Shelf Label Market Revenue and Forecasts to 2027 (US$ Mn)
Table 2. US Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Component (US$ Mn)
Table 3. US Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Product Type (US$ Mn)
Table 4. US Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Store Type (US$ Mn)
Table 5. US Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Communication Technology (US$ Mn)
Table 6. Canada Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Component (US$ Mn)
Table 7. Canada Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Product Type (US$ Mn)
Table 8. Canada Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Store Type (US$ Mn)
Table 9. Canada Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Communication Technology (US$ Mn)
Table 10. Mexico Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Component (US$ Mn)
Table 11. Mexico Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Product Type (US$ Mn)
Table 12. Mexico Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Store Type (US$ Mn)
Table 13. Mexico Electronic Shelf Label Market Revenue and Forecasts to 2027 – By Communication Technology (US$ Mn)
Table 14. Glossary of Terms, North America Electronic Shelf Label Market
LIST OF FIGURES
Figure 1. North America Electronic Shelf Label Market Segmentation
Figure 2. North America Electronic Shelf Label Market Segmentation – By Country
Figure 3. North America Electronic Shelf Label Market, By Store Type
Figure 4. North America Electronic Shelf Label Market, By Country
Figure 5. North America Electronic Shelf Label Market, By Competitive landscape
Figure 6. North America Electronic Shelf Label Market Overview
Figure 7. North America – PEST Analysis
Figure 8. North America Market Ecosystem Analysis
Figure 9. North America Electronic Shelf Label Market Impact Analysis of Drivers and Restraints
Figure 10. North America Electronic Shelf Label Market Forecast and Analysis, (US$ Mn)
Figure 11. North America Electronic Shelf Label Market Breakdown, By Component, 2019 & 2027 (%)
Figure 12. North America Display Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 13. North America Battery Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 14. North America Transceiver Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. North America Microprocessor Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. North America Others Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 17. North America Electronic Shelf Label Market Breakdown, By Product Type, 2019 & 2027 (%)
Figure 18. North America LCD ESL Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. North America E-paper Based ESL Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 20. North America Electronic Shelf Label Market Breakdown, By Store Type, 2019 & 2027 (%)
Figure 21. North America Hypermarkets Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 22. North America Supermarkets Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 23. North America Non-Food Retail Stores Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 24. North America Specialty Stores Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 25. North America Others Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 26. North America Electronic Shelf Label Market Breakdown, By Communication Technology, 2019 & 2027 (%)
Figure 27. North America Radio Frequency Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 28. North America Infrared Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 29. North America Near Field Communication Market Revenue and Forecasts to 2027(US$ Mn)
Figure 30. North America Others Market Revenue and Forecasts to 2027(US$ Mn)
Figure 31. North America Electronic Shelf Label Market Breakdown by Key Countries, 2019 & 2027(%)
Figure 32. US Electronic Shelf Label Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 33. Canada Electronic Shelf Label Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 34. Mexico Electronic Shelf Label Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 35. Impact of COVID-19 Pandemic in North American Country
Some of the leading companies are:
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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