ESL Market in North America to Worth $465 Million by 2023
Arizton’s recent market research report on the global ESL market identifies SES-imagotag, Pricer, Displaydata Ltd, Altierre Corp, and DIGI as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by display (LCD, EPD, and OLED), by technology (vendor facing (RF and IR) and customer facing (BLE and NFC), end-users (supermarkets and hypermarkets, departmental stores, convenience stores, drugstores, and others), and geography (North America, APAC, Europe, MEA, and Latin America).
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The global ESL market is divided into four major segments that consist of by display, technology, end-users, and geography.
North America to grow at the fastest CAGR in the global ESL market during the forecast period
The global ESL market by geography is divided into North America, APAC, Europe, MEA, and Latin America. North America is the fastest growing region in the electronic shelf label market at a CAGR of more than 30% during the forecast period. The evolution of the e-commerce sector and growing dominance of online retail models is propelling the growth of the ESL market in North America. The proliferation of smartphones, the paradigm shift in consumer purchasing decisions, and prominence of multichannel buying will revolutionize the retail industry in the region and boost the adoption of electronic shelf labels in the North American market.
The US constitutes about 89% of the retail industry in North America and presence of prominent retail chains will boost the demand in ESL market in the region.
Customer-facing technology to grow at a considerable CAGR in the ESL market during the forecast period
The technology segment in the global ESL market is classified into vendor facing (RF and IR) and customer facing (BLE and NFC).
Customer-facing technologies are the fastest growing segment in the electronic shelf label market at a CAGR of over 48% during the forecast period.
The customer-facing technology segment is further categorized into BLE and NFC. NFC segment dominates the customer-facing technologies accounting for around half of the total market share in 2017. NFC tags evolved from RFID technology and are used in different business and are gaining popularity in the contactless payment systems segment. The increasing use of NFC capabilities that ensures good consumer interactivity with applications on mobile phones will promote the growth of global ESL market during the forecast period.
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EPD displays to grow at an impressive CAGR in the global ESL market during the forecast period
The ESL market by the display is segmented into LCD, EPD, and OLED. E-paper or electrophoretic displays (EPD) is the fastest growing segment in the electronic shelf label market at an exponential CAGR of close to 53% during the forecast period. EPD provides a bi-stable display which allows the display to be maintained even when the external electric field is removed, and hence the power is consumed only when the display change is necessary. EPD offers high visibility, a wide viewing angle, and low power consumption. The increasing use of EPDs for product promotion will propel the growth of the global ESL market. The EDP-based ESL tags available in the market include SmartTag HD labels and SES-Imagotag G1 retail tags.
The other prominent players in the global ESL market are E-Ink Holdings Inc, Samsung Electro Mechanics (SEMCO), Mirador Marketing, CEST Ltd, LG Innotak, NZ Electronic Shelf Label, Opticon Inc, Hanshow Technology, Pervasive Displays Inc., (PDI), and Wincor Nixdorf.
The complete overview of the latest market research report on global electronic shelf label market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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