UK markets closed
  • FTSE 100

    7,018.60
    -140.92 (-1.97%)
     
  • FTSE 250

    17,972.69
    -359.00 (-1.96%)
     
  • AIM

    833.59
    -13.83 (-1.63%)
     
  • GBP/EUR

    1.1189
    -0.0251 (-2.19%)
     
  • GBP/USD

    1.0857
    -0.0398 (-3.54%)
     
  • BTC-GBP

    17,405.27
    -454.62 (-2.55%)
     
  • CMC Crypto 200

    434.61
    -9.92 (-2.23%)
     
  • S&P 500

    3,693.23
    -64.76 (-1.72%)
     
  • DOW

    29,590.41
    -486.27 (-1.62%)
     
  • CRUDE OIL

    79.43
    -4.06 (-4.86%)
     
  • GOLD FUTURES

    1,651.70
    -29.40 (-1.75%)
     
  • NIKKEI 225

    27,153.83
    -159.30 (-0.58%)
     
  • HANG SENG

    17,933.27
    -214.68 (-1.18%)
     
  • DAX

    12,284.19
    -247.44 (-1.97%)
     
  • CAC 40

    5,783.41
    -135.09 (-2.28%)
     

Global Smart Shelves Market Report 2022: Increased Use of Technologies Like IoT and RFID in Retail Driving Growth

·3-min read
Company Logo
Company Logo

Global Smart Shelves Market

Global Smart Shelves Market
Global Smart Shelves Market

Dublin, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The "Global Smart Shelves Market by Components (Hardware, Software and solutions, Professional services), Organization Size, Application (Planogram management, Inventory management, Pricing management, Content management) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global Smart Shelves market size is expected to grow from an estimated value of USD 3.0 billion in 2022 to USD 8.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 22.4% from 2022 to 2027. Some of the factors that are driving the market growth include the use of automation and intelligence for better smart shopping. However, the shifting of customers to online retail stores is expected to hinder market growth.

By organization size, Large enterprises to account for a higher market share during the forecast period

Large enterprises are defined as companies with 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. Real-time inventory insights, check and update customer buying behavior, pricing management, and assistance to the retailer in optimizing store operations are provided by Smart shelves. Walmart, Kroger, and Walgreens, among others, are the large retailers that have already adopted ESLs, sensors, RFID tags, and readers in their outlets in the US, Canada, and European nations.

By application, pricing management to grow at the highest CAGR during the forecast period

The emergence of hyper-connected consumers and aggressive competition are driving the need for price management. Retailers deploy a pricing strategy as they are constantly looking for the fair price of a product rather than a low price and are connected to several channels of distribution at a single time. The increasing demand for goods has resulted in the establishment of always-on channels that can cater to the high demand and reduce opportunity loss. Dynamic pricing has been used by gas stations and disruptive vendors. price management has become increasingly important for retailers to check on the competitive pricing displayed on the shelf, thereby enabling the consumers to make an informed decision while comparing prices. Retailers can take advantage of the price optimization strategy by using automation to manage the pricing and demand efficiently.

Premium Insights

  • Use of Automation and Intelligence for Better Smart Shopping to Boost Demand for Smart Shelf Solutions

  • Smart Shelf Hardware to Account for Largest Share in 2022

  • Large Enterprises to Dominate During Forecast Period

  • Market: Top Three Applications, 2022-2027

  • Asia-Pacific to Emerge as Best Market for Investments in Next Five Years

Market Dynamics

Drivers

  • Increased Use of Technologies Like IoT and RFID in Retail

  • Adoption of Enhanced Inventory Management

  • Use of Automation and Intelligence for Smart Shopping

Restraints

  • Privacy Concerns Related to In-Built Data Tags

Opportunities

  • Need for Retailers to Build Closer Connections with Customers

Challenges

  • Shifting Customers to the Online Retail Store Can Slow Down the Smart Shelves Market

Key Technology Trends

  • Growth in Demand for AI-Powered Dynamic Pricing Solutions

  • Optimizing Functions of Retail Stores Using AI-Driven Shelf Monitoring Software

  • Deploying Self-Scanning Solutions to Enrich Customer Experience

  • Visual Recognition and Cashierless Stores

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 Smart Shelves Market, by Component

7 Smart Shelves Market, by Organization Size

8 Smart Shelves Market, by Application

9 Smart Shelves Market, by Region

10 Competitive Landscape

11 Company Profiles

12 Adjacent Markets

13 Appendix

Companies Mentioned

  • Avery Dennison

  • Awm Smart Shelves

  • Caper

  • Diebold Nixdorf

  • Dreamztech Solutions

  • E Ink

  • Focal Systems

  • Happiest Minds

  • Honeywell

  • Huawei

  • Intel

  • Mago S.A

  • Minew

  • Nexcom

  • Nxp Semiconductor

  • Pccw Solutions

  • Pricer

  • Samsung

  • Sennco Solutions

  • Ses-Imagotag

  • Software AG

  • Solum

  • Startups

  • Trax

  • Trigo

  • Tronitag

  • Wiseshelf

  • Zippin

For more information about this report visit https://www.researchandmarkets.com/r/x3qsuz

Attachment

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900