The Smart Shelves Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Smart Shelves Market:
https://www.thebusinessresearchcompany.com/report/smart-shelves-global-market-report
According to The Business Research Company’s Smart Shelves Global Market Report 2024, The smart shelves market size has grown exponentially in recent years. It will grow from $3.35 billion in 2023 to $4.07 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The growth in the historic period can be attributed to customer engagement, data-driven decision-making, supply chain optimization, enhanced shopping experience, reduction of out-of-stock incidents..
The smart shelves market size is expected to see rapid growth in the next few years. It will grow to $8.22 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%. The growth in the forecast period can be attributed to contactless shopping preferences, rise of autonomous stores, demand for real-time pricing updates, customization of shelf displays, sustainable materials in shelf construction, global expansion of smart retail.. Major trends in the forecast period include integration of rfid technology, automation for inventory management, electronic shelf labels (esls), focus on security and anti-theft measures, collaboration with e-commerce platforms, demand for real-time inventory visibility..
The increase in customer personalization and customization is expected to propel the growth of the smart shelf market going forward. Personalization refers to the process of designing or altering a product to better suit a customer's wants and needs. When a customer manually alters an item to match their demands or specifications, this is called customization. Smart shelves help increase customer personalization and customization through the benefits of smart shelves, such as retailer profit maximization and the provision of a tailored shopping experience, which are anticipated to favorably impact the global market for smart shelves. For instance, according to IBM Watson Advertising, a US-based AI-powered advertising solution, in January 2022, 56% of customers want all their interactions with brands to be customized. And in exchange for a better-personalized shopping experience, 70% of millennials are willing to let companies monitor their browsing and purchasing habits. Further, 59% of customers feel it's crucial to engage them in a customized way based on previous interactions if you want to win their business. Therefore, increasing customer personalization and customization is expected to drive the growth of the smart shelves market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample_request?id=7858&type=smp
The smart shelves market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Enterprise Size: Small and Medium Enterprises (SMEs), Large Enterprise
3) By Application: Planogram Management, Inventory Management, Pricing Management, Content Management, Other Applications
4) By End-User: Departmental Stores, Supermarkets, Specialty Stores, Other End-Users
Technological advancement is a key trend gaining popularity in the smart shelves smart shelves market. Major market players in the smart shelves market are focused on technological innovations to sustain their position in the market. For instance, in October 2022, Unified Natural Foods Inc., a US-based natural and organic food company, introduced a smart shelf tag initiative based on new technology Eli QR codes, which will allow consumers to obtain product information as they shop in stores. ELi QR Codes are an improved, more secure variation of a QR code that can be scanned to give customers more information about a product and rich digital content on their smartphones without the need for an app. The ELi QR Code's content will be obtained from the provider and automatically filled in for each unique UPC to provide information on nutrition, allergens and promotional offers, customer reviews, traceability details, and brand stories which will leverage customers' shopping experience.
Major Players:
- Happiest Minds Technologies Pvt. Ltd.
- Intel Corporation
- Pacific Century CyberWorks Limited.
- Avery International Corporation.
- Honeywell International Inc.
The smart shelves market report table of contents includes:
1. Executive Summary
2. Smart Shelves Market Characteristics
3. Smart Shelves Market Trends And Strategies
4. Smart Shelves Market - Macro Economic Scenario
5. Global Smart Shelves Market Size and Growth
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Releted Reports:
https://goodprnews.com/pine-chemicals-market-size-share-growth/
https://goodprnews.com/pipeline-services-market-size-share-analysis/
https://goodprnews.com/pipeline-integrity-management-market-size-and-forecast/
https://topprnews.com/pine-derived-chemicals-market-forecast/
https://topprnews.com/pipeline-and-process-services-market-growth-analysis/
https://topprnews.com/pipeline-integrity-management-market-size-share-analysis/
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
According to a new market research report "Smart Shelves Market by Component (RFID Tags and Readers, ESL, IoT Sensors, Cameras, and Software and Solutions), Application (Inventory Management, Pricing Management, Content Management, and Planogram Management), and Region - Global Forecast to 2026" published by MarketsandMarkets™, the market size expected to grow from USD 1.8 billion in 2020 to USD 7.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 25.1% during the forecast period.Browse in-depth TOC on "Smart Shelves Market”272- Tables45- Figures228- PagesDownload Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=101938228Happiest 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) are some of the key players considered in the Smart Shelves Market.
Companies offering smart shelves currently focus on organic strategies, such as new product launches and product enhancements, to be competitive in the market.The retail sector is undergoing massive changes, owing to the growing challenges faced by retailers.
Retailers struggle to cope with challenges, such as the ever-changing customer expectations, declining customer loyalty, internal communication gap, employee retention, and management of operational efficiency.
The increasing deployment of interactive vending machines, smart kiosks, and contactless payment technologies in retail stores proves that retailers target new revenue opportunities to enhance their hold over customers.MarketsandMarkets has segmented the global Smart Shelves Market into components (hardware, software and solutions, and professional services), organization size, applications, and regions.
By organization size, the report covers large enterprises and SMEs.
The report also focuses on applications of the Smart Shelves Market, which includes planogram management, inventory management, pricing management, content management, and other applications.
