Smart Shelves Market: Global Industry Analysis and Forecast (2022-2027) by Component, Application, Enterprise Size, and Region

Smart Shelves Market size was valued at US$ 2.25 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 25.1% through 2022 to 2027, reaching nearly US$ 8.62 Bn.

Smart Shelves Market Overview:

Smart Shelves Market is expected to reach US$ 8.62 Bn. by 2027. Smart shelves employ RFID technology (e.g., RFID tags, RFID readers, and antennas) to automatically track inventory in retail stores. Weight sensors are installed on the shelves or beneath them in order to develop Smart Shelves. Sensors are utilised to keep track of how much goods is on the shelves. Inventory Management, Pricing Management, Content Management, and Planogram Management are the application of the smart shelves. Smart Shelves Market To know about the Research Methodology :- Request Free Sample Report

Smart Shelves Market Dynamics:

Driving Factor: Adoption of improved inventory management to make better restocking decisions and engage in real-time interactions. Retailers have increased insight and control due to improved inventory management and digital shelves. Using smart shelves, businesses can also monitor inventory levels in-store, helping them manage inventory more effectively and make more informed restocking decisions. According to Wiseshelf, smart shelf technology decreases the risk of missed purchases, which occur when purchasers are unable to locate the item they require. Smart shelves technology allows for automated stock availability tracking and alerts retail establishments when things are running short or have been misplaced from their original location, preventing theft and shrinkage. Smart shelves, when connected to the internet, provide vital data on customer behaviour as well as tips for improving the in-store experience. Restraining Factor: Inbuilt data tags raise privacy concerns. Concerns regarding consumer privacy is the factor that is expected to hamper the adoption of smart-shelf technologies. Walmart stopped testing an RFID shelf inventory control system in 2003 before it was installed. In a partnership with Gillette, Walmart tested smart-shelf technology by tracking data on the packaging of Gillette products. Walmart wanted to employ technology to alert store managers about supply shortages and possible theft. The scheme was opposed by consumer privacy groups because of privacy concerns. Consumers were sceptical that product identification tags may be abused or hacked, allowing information to be tracked from retailers to homes. Furthermore, Walmart's app that allowed consumers to scan things as they removed them from shelves failed in January 2017.

Smart Shelves Market Segment Analysis:

Based on the Component, the market is segmented into RFID Tags and Readers, ESL, IoT Sensors, Cameras, and Software and Solutions. The Software and Solutions segment is expected to hold the largest market share of xx% by 2027. For creating connections between shelf components and cloud servers and gateways, software and solutions are crucial tools and platforms. In-store execution, category analysis and planning, inventory optimization, price, promotion compliance, store monitoring, intelligence, and planogram monitoring are just a few of the applications for smart shelf software and solutions. In order to connect the physical environment to the distant server, COVID-19 has increased the demand for software and solutions in retail. The COVID-19 pandemic has changed the way people think about digital technologies and remote working. In retail, it has become critical to monitor and maintain track of inventories, planograms, pricing and offers, and product content management in real-time, which has influenced the use of smart shelves. Smart Shelves Market Based on the Application, the market is segmented into Inventory Management, Pricing Management, Content Management, and Planogram Management. The pricing management segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2027. Price management is necessitated by a number of circumstances, including the rise of hyper-connected consumers and fierce competition. Consumers are always looking for a fair price for a product rather than a low price, and they are connected to multiple distribution channels at the same time. As a result, retailers have implemented a pricing strategy that is consistent across channels, as consumers are always comparing prices. The rising demand for commodities has led to the creation of always-on channels that can provide the need while minimizing opportunity loss. The retail industry's fierce rivalry has had a substantial impact on retailers' margins, and as more options for consumers become available, these margins have shrunk even more. As a result, price management has become increasingly crucial for retailers to monitor competitive pricing displayed on the shelf, allowing consumers to make educated decisions when comparing prices.

Smart Shelves Market Regional Insights:

The Europe region is expected to dominate the Smart Shelves Market during the forecast period 2022-2027. The Europe region is expected to hold the largest market share of xx% by 2027. The presence of significant companies such as SES Imagotag, Pricer, Cicor, and Opticon Sensors has contributed to the region's growth. During the forecast period, high penetration of ESL in regional retail, particularly in countries such as France, Italy, Belgium, Germany, and other European countries, is expected to offer the industry the leading market share.

Smart Shelves MarketSmart Shelves Market Key Trends:

ELECTRONIC SHELF LABELS (ESLs): A next-generation solution for managing retail businesses is available. Instead of printing product information and prices on paper, it shows information in real-time utilizing electronic/digital paper and display. The price display can be manually managed or automatically updated using a communication network at the option of the business. Infrared, radio and even visible light are used for wireless communication. The QR code seen on electronic shelf labels connects physical and online merchandise. Stores could run promotions more quickly and have more contacts with customers if they combined the shelf management technology with it. 5G TECHNOLOGY: 5G refers to the next (and fifth) generation of wireless communication networks. Sensor-equipped shelves could stock a product's position, alert a distribution center to replace its inventory, and track the shipment's progress in real-time. 5G also has the potential to develop totally new types of shopping experiences, such as an augmented reality app that activates as you walk into a store and directs you to the shelf where your desired product is located. PRESSURE SENSOR FOILS: Pressure sensor foil that detects the movement of things on a shelf could be used in a variety of retail, hotel, and hospital applications. Active components such as a multiplexer chip and a capacitive-to-digital converter, as well as a number of passive components such as resistors and capacitors, are integrated within the sensor foil. The objective of the report is to present a comprehensive analysis of the Global Smart Shelves Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Smart Shelves Market dynamic, and structure by analyzing the market segments and projecting the Global Smart Shelves Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Smart Shelves Market make the report investor’s guide.

Smart Shelves Market Scope: Inquiry Before Buying

Global  Smart Shelves Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US $ 2.25 Bn.
Forecast Period 2022 to 2027 CAGR: 25.1% Market Size in 2027: US $ 8.62 Bn.
Segments Covered: by Component • RFID Tags and Readers • ESL • IoT Sensors • Cameras • Software and Solutions
by Application • Inventory Management • Pricing Management • Content Management • Planogram Management
by Enterprise Size • SMEs • Large Enterprise

Smart Shelves Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Smart Shelves Market Key Players

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) Frequently Asked Questions: 1] Which region is expected to hold the highest share in the Smart Shelves Market? Ans. Europe is expected to hold the highest share in the Smart Shelves Market. 2] Who are the top key players in the Smart Shelves Market? Ans. Happiest minds (India), Intel (US), PCCW Solutions (Hong Kong), Avery Dennison (US), and Honeywell (US) are the top key players in the Smart Shelves Market. 3] Which segment is expected to hold the largest market share in the Smart Shelves Market by 2027? Ans. The Software and Solutions segment is expected to hold the largest market share in the Smart Shelves Market by 2027. 4] What is the market size of the Smart Shelves Market by 2027? Ans. The market size of the Smart Shelves Market is expected to reach US $8.62 Bn. by 2027. 5] What was the market size of the Smart Shelves Market in 2021? Ans. The market size of the Smart Shelves Market was worth US $2.25 Bn. in 2021.
1. Global Smart Shelves Market: Research Methodology 2. Global Smart Shelves Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to the Global Smart Shelves Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Smart Shelves Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Smart Shelves Market Segmentation 4.1 Global Smart Shelves Market, by Component (2022-2027) • RFID Tags and Readers • ESL • IoT Sensors • Cameras • Software and Solutions 4.2 Global Smart Shelves Market, by Application (2022-2027) • Inventory Management • Pricing Management • Content Management • Planogram Management 4.3 Global Smart Shelves Market, by Enterprise Size (2022-2027) • SMEs • Large Enterprise 5. North America Smart Shelves Market (2022-2027) 5.1 North America Smart Shelves Market, by Component (2022-2027) • RFID Tags and Readers • ESL • IoT Sensors • Cameras • Software and Solutions 5.2 North America Smart Shelves Market, by Application (2022-2027) • Inventory Management • Pricing Management • Content Management • Planogram Management 5.3 North America Smart Shelves Market, by Enterprise Size (2022-2027) • SMEs • Large Enterprise 5.4 North America Smart Shelves Market, by Country (2022-2027) • United States • Canada • Mexico 6. Europe Smart Shelves Market (2022-2027) 6.1. Europe Smart Shelves Market, by Component (2022-2027) 6.2. Europe Smart Shelves Market, by Application (2022-2027) 6.3. Europe Smart Shelves Market, by Enterprise Size (2022-2027) 6.4. Europe Smart Shelves Market, by Country (2022-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Smart Shelves Market (2022-2027) 7.1. Asia Pacific Smart Shelves Market, by Component (2022-2027) 7.2. Asia Pacific Smart Shelves Market, by Application (2022-2027) 7.3. Asia Pacific Smart Shelves Market, by Enterprise Size (2022-2027) 7.4. Asia Pacific Smart Shelves Market, by Country (2022-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. South America Smart Shelves Market (2022-2027) 8.1. South America Smart Shelves Market, by Component (2022-2027) 8.2. South America Smart Shelves Market, by Application (2022-2027) 8.3. South America Smart Shelves Market, by Enterprise Size (2022-2027) 8.4. South America Smart Shelves Market, by Country (2022-2027) • Brazil • Argentina • Rest Of South America 9. Middle East and Africa Smart Shelves Market (2022-2027) 9.1 Middle East and Africa Smart Shelves Market, by Component (2022-2027) 9.2. Middle East and Africa Smart Shelves Market, by Application (2022-2027) 9.3. Middle East and Africa Smart Shelves Market, by Enterprise Size (2022-2027) 9.4. Middle East and Africa Smart Shelves Market, by Country (2022-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 10. Company Profile: Key players 10.1 Happiest minds (India) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Intel (US) 10.3 PCCW Solutions (Hong Kong) 10.4 Avery Dennison (US) 10.5 Honeywell (US) 10.6 Huawei Technologies Co. Ltd (China) 10.7 NXP Semiconductor (The Netherland) 10.8 E-Ink Holdings (Taiwan) 10.9 Samsung Electronics (South Korea) 10.10 DIEBOLD NIXDORF, Incorporated (US) 10.11 Software AG (Germany) 10.12 SoluM (South Korea) 10.13 MINEW (China) 10.14 TraxRetail (Singapore) 10.15 NEXCOM (Taiwan) 10.16 Pricer (Sweden) 10.17 Dreamztech Solutions Inc. (US) 10.18 Sennco Solutions, Inc. (US)

About This Report

Report ID 94487
Category Electronics
Published Date March 2021
Updated Date April 2022
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