The North America Electronic Shelf Labels Market would witness market growth of 12.5% CAGR during the forecast period (2022-2028).
Retail establishments utilize electronic shelf labels (ESL), or digital price tags, to display product prices through wireless networks. ESLs are often fastened to the leading edge of store shelves. Once installed on the shelves, it links directly to the point of sale (POS) and the store's ERP to save human expenses associated with price management, increase pricing accuracy, and allow dynamic pricing. Also, every electronic shelf label (ESL) system contains an LCD or e-ink display that indicates the product's price and UPC.
Retailers could alter prices immediately and in real-time across all locations due to electronic shelf labels, eliminating laborious and error-prone human effort. Using ESLs, merchants improved click and collect, streamlined restocking, and improved pricing efficiency and accuracy. To compete with internet retailers, store owners coordinated pricing and responded fast to market prices. ESLs created a seamless in-store and online buying experience with price transparency by enabling consumers to see accurate pricing and get customized, in-depth product information.
In the North American area, notably in the United States, there are various enterprises and merchants. Opportunities for product uptake are anticipated to arise from the region's retail sector's predicted growth. The market demand is also being boosted by supportive government measures in the United States for technological innovation and integrating automated goods across all industry verticals, particularly in retail automation. Significant data evolution capabilities have been developed in the United States due to the industrial revolution and are now being integrated into supply chain management. With technology, shop operations can be improved, the sector can grow, and ESL can boost operational effectiveness.
The US market dominated the North America Electronic Shelf Labels Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $599.8 Million by 2028. The Canada market is poised to grow at a CAGR of 15% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 14% during (2022 - 2028).
Based on Component, the market is segmented into Display, Microprocessors, Batteries, Transceivers and Others. Based on Product Type, the market is segmented into Fully Graphic E-paper Displays, LCDs and Segmented E-paper Displays. Based on Communications Technology, the market is segmented into Radio Frequency, Infrared, Near-field Communication and Others. Based on Application, the market is segmented into Retail and Industrial. Based on Display Size, the market is segmented into Less than 3 Inches, 3 to 7 Inches, 7 to 10 Inches and More than 10 Inches. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Electronic Shelf Labels Market is Predict to reach $2.7 Billion by 2028, at a CAGR of 13.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SES-Imagotag (BOE Technology Group Co., Ltd.), Opticon Sensors Europe B.V., Pricer AB, Displaydata Limited, M2Comm, Rainus Co., Ltd., Shanghai Sunmi Technology Co., Ltd., Hanshow Technology Co. Ltd., Solum Co., Ltd, and Teraoka Seika Co., Ltd.
By Component
By Product Type
By Communications Technology
By Application
By Display Size
By Country
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