The global smart shelves market size is expected to grow from an estimated value of USD 1.8 billion in 2020 to USD 7.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 25.1% from 2020 to 2026. The smart shelves market is driven by various factors, such as adoption of enhanced inventory management to make smarter restocking decisions and real-time engagements, use of automation and intelligence for better smart shopping to boost demand for smart shelf solutions to boost the growth of smart shelves market across the globe during the forecast period. However, privacy concerns related to inbuild data tags can hinder the growth.
Software and solutions segment to grow at a higher CAGR during the forecast period Software and solutions are essential tools and platforms, which are used to build connectivity between shelf components and the cloud servers and gateways. In-store execution, category analysis and planning, inventory optimization, price, promotion compliance, store monitoring and intelligence, and planogram monitoring are some of the prime instances of smart shelf software and solutions. COVID-19 has increased the demand for software and solutions in retail in order to connect the physical environment to the remote server.COVID-19 pandemic has revolutionized digital technology and remote working principles.
In retail as well, it has become essential to monitor and keep track of inventory, planogram, pricing and offers, and content management of the products in real-time, thereby has impacted the adoption of smart shelves as well.
Large enterprises segment to account for a higher market share during the forecast period By organization size, the smart shelves market is segmented into SMEs and large enterprises.Large enterprises (or large-scale retail outlets such as supermarkets) are the early adopters and are the most significant contributors in generating revenue for the market.
The smart shelves technology is new in the market and is undergoing various deployment and implementation tests by retailers. As compared to large enterprises, SMEs or small retail outlets are growing with a steady growth rate; however, it is expected to have a high adoption rate of the smart shelves technology after two or five years. Large enterprises are defined as companies with having an employee strength of more than 1,000.In the smart shelves market, large-scale retailers, supermarkets, and hypermarkets with multinational presence have been considered as large enterprises.
Smart shelves have the ability to provide real-time inventory insights, check and update customer buying behavior, pricing management, and assist the retailer in optimizing store operations. Large retailers such as Walmart, Kroger, and Walgreens, among others, have already deployed ESLs, sensors, RFID tags, and readers in their outlets in the US, Canada, and European nations.
Asia Pacific to grow at the highest rate during the forecast period The major developed countries in APAC, such as China, Japan, Australia, Singapore, and South Korea, are expected to be potential markets for the smart shelves market.The economic reform programs of various countries in APAC are creating growth opportunities for the manufacturers of the smart shelves market.
In addition, the expansion of large-scale retailers in this region is also responsible for the expected high growth rate of the smart shelves market in APAC.The introduction of IoT to counter online retail and retailer’s problems and change in consumer preferences is expected to boost the smart shelves market.
According to IDC, retailers that leverage emerging technologies such as AI and IoT will have a 20% improvement in customer satisfaction scores and a 25% improvement in inventory turnovers.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the smart shelves market. • By company type: Tier 1: 20%, Tier 2: 57%, and Tier 3: 33% • By designation: C-level: 40%, Manager and Other: 60% • By region: North America: 20%, Europe: 35%, APAC: 45%
Major vendors offering smart shelves market across the globe Happiest minds (India), Intel (US), PCCW Solutions (Hong Kong), Avery Dennison (US), Honeywell (US), Huawei Technologies Co. Ltd (China), NXP Semiconductor (The Netherland), E-Ink Holdings (Taiwan), Samsung Electronics (South Korea), DIEBOLD NIXDORF, Incorporated (US), Software AG (Germany), SoluM (South Korea), MINEW (China), TraxRetail (Singapore), NEXCOM (Taiwan), Pricer (Sweden), Dreamztech Solutions Inc (US), Sennco Solutions, Inc (US), Tronitag (Germany), MAGO S.A. (Poland), SES-IMAGOTAG (France), AWM Smart Shelf (US), Wiseshelf (Israel), Trigo (Israel), Caper (US), Zippin (US), and Focal Systems (UK). The study includes an in-depth competitive analysis of the key players in the smart shelves market, with their company profiles, recent developments, and key market strategies.
Research coverage The market study covers the smart shelves market size across segments.It aims at estimating the market size and growth potential of this market across different segments: by component, by organization size, by application, and by region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall smart shelves market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Our reports have been used by over 10K customers, including:
Retailing in China - Market Shares, Summary and Forecasts to 2025
This report provides both the historic and forecast market data of total retail sales in China.It illustrates the data with charts, graphs and tables summarizing the value trends, with individual sector details in overall...
Retailing in Germany - Market Shares, Summary and Forecasts to 2025
This report provides both the historic and forecast market data of total retail sales in Germany.It illustrates the data with charts, graphs and tables summarizing the value trends, with individual sector details in overall...
Retailing in France - Market Shares, Summary and Forecasts to 2025
This report uses data from Retail database showing the trends in the market and sectors by value.It also reveals the major retailers by market share in 2020 in each of the sectors.
All data includes the impact...
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Interactive
Baby Monitor Market Report
The global interactive baby monitor market by revenue is expected to grow at a CAGR of approx. 15% during 2020–2026.
Baby monitors are increasingly marking their presence among end-users worldwide....
146 pages •
By Euromonitor International
• Mar 2021
Like throughout the world, Taiwan’s retailing sector suffered a huge blow due to the impact of COVID-19 in 2020, which resulted in a major slowdown of economic activity due to social distancing measures. In response to the crisis, the government introduced a wide range of restrictions, causing a slowdown in economic activity, especially in...
139 pages •
By Euromonitor International
• Mar 2021
2020 has brought unprecedented challenges to the UAE retail landscape, a market highly vulnerable to the economic disruptions caused by the COVID-19 pandemic given the high proportion of GDP fuelled by retail, transport and hospitality. Dubai stands out as one of the most diversified economies of the GCC and it relies very heavily on tourism...
The Vietnamese retail sector is valued at USD 170 Billion in 2020 and is projected to register CAGR more than 10% during the forecast period, 2021 to 2026. While the Covid-19 crisis remains complicated globally, Vietnam’s effective control of the pandemic has led to recovery of retail sales of consumer goods and services in the final months...
147 pages •
By Euromonitor International
• Mar 2021
The COVID-19 pandemic had a major impact on the Thai retailing market, with almost all channels seeing sales fall in 2020, particularly in the second quarter of the year during which the government imposed a lockdown over March-May. Store-based non-grocery retailing channels were amongst those hit hardest by the pandemic and measures imposed...
The global homeshopping market was valued at USD 3,011.64 Billion in 2020 and is projected to grow at a CAGR of 16.92% during the forecast period (2021 - 2026). - The global market has seen major advances in e-commerce since COVID-19 started as a safer and more time-efficient shopping choice. The pandemic forced businesses and countries,...
237 pages •
By Asia Market Information & Development Company
• Mar 2021
China’s demand for Retail has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, import & export, consumer consumption and...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.