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Report
Global Smart Shelves Market Report and Forecast 2024-2032
Market Report I 2024-06-20 I 195 Pages I EMR Inc.
Global Smart Shelves Market Report and Forecast 2024-2032
Market outlook
According to the report by Expert Market Research (EMR), the smart shelves market size reached a value of USD 3.97 billion in 2023. Aided by increasing demand for advanced retail technologies and the growing applications of smart shelves in various sectors, the market is projected to further grow at a CAGR of 23.1% between 2024 and 2032 to reach a value of USD 25.78 billion by 2032.
Smart shelves are advanced retail solutions equipped with sensors, RFID tags, and IoT technologies to provide real-time data on inventory levels, product placement, and customer interactions. These shelves enhance the efficiency of retail operations by automating inventory management, reducing stockouts, and improving the overall shopping experience. The global smart shelves market is experiencing significant growth due to the rising adoption of retail automation, the increasing focus on enhancing customer experience, and the continuous innovation in retail technologies.
The increasing demand for advanced retail technologies is driving the smart shelves market growth. With the growing competition in the retail sector, businesses are turning to smart shelves to optimize their operations and improve customer satisfaction. Smart shelves provide real-time data on inventory levels, enabling retailers to manage stock more efficiently and reduce the risk of stockouts. The automation of inventory management processes also reduces labour costs and improves operational efficiency, driving the demand for smart shelves in the global market.
The rising focus on enhancing customer experience also plays a significant role in the market's growth. As consumers become more demanding and expect personalised shopping experiences, retailers are adopting smart shelves to meet these expectations. Smart shelves provide real-time information on product availability, offer personalized promotions, and enhance the overall shopping experience. The increasing emphasis on customer satisfaction and the need to differentiate in a competitive market have driven the adoption of smart shelves.
The expanding applications of smart shelves in various sectors significantly contribute to the market's growth. In the retail sector, smart shelves are widely used in supermarkets, hypermarkets, and convenience stores to optimise inventory management and enhance the shopping experience. The increasing adoption of omnichannel retailing and the growing focus on providing seamless shopping experiences have driven the demand for smart shelves in the retail sector, consequently driving up the smart shelves market share.
In the healthcare sector, smart shelves are employed to manage medical supplies, pharmaceuticals, and other healthcare products. The increasing focus on improving inventory management and reducing waste in healthcare facilities has driven the adoption of smart shelves in the healthcare sector. Additionally, smart shelves are used in warehouses and distribution centres to enhance inventory visibility and improve supply chain efficiency.
In the hospitality sector, smart shelves are used in hotels and restaurants to manage inventory and enhance the guest experience. The growing focus on providing personalised services and improving operational efficiency has driven the adoption of smart shelves in the hospitality sector. Furthermore, smart shelves are used in the manufacturing sector to manage raw materials, work-in-progress inventory, and finished goods, improving production efficiency and reducing waste.
As per the smart shelves market analysis, North America holds a significant share in the market, driven by the increasing adoption of retail automation, the presence of leading technology companies, and a well-established retail sector in the region. The rising demand for advanced retail technologies and the focus on enhancing customer experience have boosted the demand for smart shelves in North America. Moreover, the region's strong focus on research and development and the presence of a robust technology infrastructure further support market growth.
Market Segmentation
The market can be divided based on component, application, and region
Market Breakup by Component
- Hardware
o Electronic Shelf Labels (ESL)
o Cameras
o IoT Sensors
o RFID Tags and Readers
o Others
- Software
- Services
Market Breakup by Application
- Inventory Management
- Planogram Management
- Pricing Management
- Content Management
- Others
Market Breakup by Region
- North America
- Europe
- Latin America
- Middle East and Africa
- Asia Pacific
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global smart shelves market. some of the major players explored in the report by expert market research are as follows:
- Samsung Electronics Co. Ltd.
- Intel Corporation
- Huawei Technologies Co. Ltd.
- Trax Technology Solutions Pte Ltd.
- Amazon.com, Inc.
- Lenovo PCCW Solutions Limited
- SoluM Europe GmbH
- NEXCOM International Co., Ltd.
- Pricer AB
- Dreamztech Us Inc.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Smart Shelves Market Analysis
8.1 Key Industry Highlights
8.2 Global Smart Shelves Historical Market (2018-2023)
8.3 Global Smart Shelves Market Forecast (2024-2032)
8.4 Global Smart Shelves Market by Component
8.4.1 Hardware
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Electronic Shelf Labels (ESL)
8.4.1.3.2 Cameras
8.4.1.3.3 IoT Sensors
8.4.1.3.4 RFID Tags and Readers
8.4.1.3.5 Others
8.4.2 Software
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Services
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Smart Shelves Market by Application
8.5.1 Inventory Management
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Planogram Management
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Pricing Management
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Content Management
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Smart Shelves Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Smart Shelves Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Smart Shelves Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Smart Shelves Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Smart Shelves Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Smart Shelves Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Samsung Electronics Co. Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Intel Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Huawei Technologies Co. Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Trax Technology Solutions Pte Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Amazon.com, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Lenovo PCCW Solutions Limited
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 SoluM Europe GmbH
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 NEXCOM International Co., Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Pricer AB
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Dreamztech Us Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Smart Shelves Market: Key Industry Highlights, 2018 and 2032
2. Global Smart Shelves Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Smart Shelves Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Smart Shelves Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Smart Shelves Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Smart Shelves Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Smart Shelves Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Smart Shelves Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Smart Shelves Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Smart Shelves Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Smart Shelves Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Smart Shelves Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Smart Shelves Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Smart Shelves Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Smart Shelves Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Smart Shelves Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Smart Shelves Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Smart Shelves Market Structure
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