Global Smart Shelves Market worth USD 3.3 billion by 2025 | Brandessence Market Research
LONDON, March 27, 2023 /PRNewswire/ -- Global Smart Shelves Market Size is Projected to Reach ~USD 3.3 billion by 2025, at a CAGR of +18% during the forecast period.
Smart shelves are a type of intelligent shelving system that uses technology such as sensors, cameras, and radio frequency identification (RFID) to provide real-time data on inventory levels and product movement. These shelves are equipped with sensors that detect when products are removed or returned, allowing retailers to track inventory levels and make informed decisions about restocking.
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Global Smart Shelves Market Outlook (2022-2029)
The smart shelves market is expected to experience significant growth in the coming years, driven by increasing demand for advanced retail technologies and the need for more efficient inventory management systems.
One of the key drivers of growth in the smart shelves market is the rise of e-commerce and omnichannel retailing. As more consumers shop online, retailers are looking for ways to integrate their online and offline operations. Smart shelves can help bridge this gap by providing real-time inventory data that can be used to optimize both online and offline sales channels.
Another factor driving growth in the smart shelves market is the increasing availability of advanced technologies such as artificial intelligence (AI), machine learning, and the Internet of Things (IoT). These technologies are making it possible to create more sophisticated and intelligent shelving systems that can analyze customer behavior, track product performance, and provide personalized shopping experiences.
Despite the many opportunities for growth in the smart shelves market, there are also some challenges that must be addressed. These include concerns about data privacy and security, as well as the high cost of implementing and maintaining smart shelving systems.
The prominent players characterizing the competitive terrain of the Global Smart Shelves Market are SES-Imagotag (France), Pricer (Sweden), Trax (Singapore), Avery Dennison (US), Samsung (South Korea), E Ink (Taiwan), Intel (US), Huawei (China), Honeywell (US), Solum (south Korea), NEXCOM (Taiwan), DreamzTech Solutions (US), Sennco (US), Tronitag (Germany), Mago S.A. (Poland), Happiest Minds (India), PCCW Solutions (Hong Kong), NXP semiconductor (Netherlands), Diebold Nixdorf (US), Software AG (Germany), Minew (China), AWM Smart Shelves (US), Wiseshelf (Israel), Trigo (Israel), Caper (US), Zippin (US), Focal Systems
By Enterprise Size
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Which is the fastest growing region in the Global Smart Shelves Market?
The Asia-Pacific region is expected to be the fastest growing region in the global smart shelves market. This growth is driven by the increasing adoption of advanced technologies in the retail sector and the rising demand for more efficient inventory management systems.
How is North America faring in this industry?
North America is a significant market for smart shelves, with the region experiencing strong demand from retailers for advanced retail technologies and more efficient inventory management systems.
Which is the most dominant component segment in this market?
The most dominant component segment in the smart shelves market is the hardware segment. This includes sensors, cameras RFID readers, and other hardware components that are used to detect and track product movement and provide real-time inventory data.
Which enterprise size segment is expected to generate high returns over 2022-2029?
The small and medium-sized enterprises (SMEs) segment is expected to generate high returns over the period of 2022-2029 in the smart shelves market. This is because SMEs are increasingly looking for ways to improve their inventory management and optimize their retail operations.
Comparing the historical outlook and ongoing trends of this market
The historical outlook of the smart shelves market shows a gradual shift from traditional manual inventory management systems to more advanced and intelligent solutions. In the past, retailers relied on manual methods to track inventory levels, which were time-consuming and prone to errors. However, with the rise of advanced technologies such as RFID and IoT, smart shelves have emerged as a more efficient and accurate solution for inventory management.
In recent years, the smart shelves market has experienced strong growth, driven by increasing demand from retailers for advanced retail technologies and the need for more efficient inventory management systems. The ongoing trend in the market is towards more sophisticated and intelligent shelving systems that can analyze customer behavior, track product performance, and provide personalized shopping experiences.
Another ongoing trend in the smart shelves market is the integration of online and offline sales channels. With the rise of e-commerce and omnichannel retailing, retailers are looking for ways to integrate their online and offline operations. Smart shelves can help bridge this gap by providing real-time inventory data that can be used to optimize both online and offline sales channels.
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