March 18, 2020
As per the report titled ‘North America Electronic Shelf Label (ESL) Market Size By Product, Technology, Application, 2018 – 2024’, available with Market Study Report LLC, North America electronic shelf label (ESL) market is anticipated to surpass USD 440 million by the year 2024.
Favorable government initiatives towards technological innovations coupled with increasing automation across various industry verticals is augmenting the growth of electronic shelf label market in North America. Rapid industrialization and expansion of the logistics sector are demanding the application of ESL for supply chain management. Furthermore, enhanced store operations owing to automated price display management and ease of use are boosting the adoption of electronic shelf label, hence enhancing the market outlook.
Based on the product, LCD segment accounted for a significant market share in the recent past, driven by low product costs. Wide product variations such as 3D and high definition screens with various features such as large data storage and detailed information screening are supporting the demand for LCD based electronic shelf labels.
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In terms of technology, IR segment is slated to witness high traction in North America over the forecast timeframe, owing to advantages such as cost-effectiveness and high security. Product features such as ESL upgradation and uninterrupted signal transfer due to a broad communication range of up to 30 meters are increasing the product penetration.
Key players of North America electronic shelf label market are Wincor Nixdorf, LG Innotek, Pricer AB, M2Communication, SES Imagotag, CEST, Displaydata, and SoluM. These companies are indulging heavily in contracts and partnerships with retail giants such as Walmart to gain a competitive edge and increase their profit margins.
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