Smart Shelves Market Segments, Drivers, Restraints, And Trends For 2024-2033
Smart Shelves Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
Smart Shelves Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 3, 2024 /EINPresswire.com/ -- The smart shelves market1 has experienced robust growth in recent years, expanding 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.
What Is The Estimated Market Size Of The Global Smart Shelves Market And Its Annual Growth Rate?
The smart shelves market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Smart Shelves Market
The growing e-commerce industry is expected to propel the growth of the smart shelves market going forward. E-commerce refers to the buying and selling of goods and services over the Internet and other digital platforms. Smart shelves can be used to track inventory levels in real-time, which can help e-commerce businesses avoid stockouts and overstocks.
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Which Market Players Are Steering The Smart Shelves Market Growth?
Key players in the market include Happiest Minds Technologies Pvt. Ltd., Intel Corporation, Pacific Century CyberWorks Limited, Avery International Corporation, Honeywell International Inc., Huawei Technologies Co. Ltd., NXP Semiconductors N.V., E Ink Corporation, Samsung Electronics Co. Ltd., Software AG, NEXCOM International Co. Ltd., cisco Systems Inc., Trax Retail Inc., Minew Technologies Co. Ltd., SES-Imagotag SA, Pricer AB, Adroit Worldwide Media Inc., SOLUM Europe GmbH, Sennco Solutions Inc., MAGO S.A., BOE Technology Group Co. Ltd., Lenovo PCCW Solutions Limited, Microsoft Corporation, Amazon.com Inc., Google LLC, IBM Corporation, Oracle Corporation, SAP SE, Zebra Technologies Corporation, Advantech Co. Ltd., NCR Corporation, Toshiba Corporation, Panasonic Corporation, LG Electronics Inc., Sony Corporation, NEC Corporation, Fujitsu Limited, Hewlett Packard Enterprise Company, Dell Technologies Inc.
What Are The Key Trends That Influence Smart Shelves Market Share And Analysis?
Major companies operating in the market are focused on developing technological innovations, such as smart data capture solutions, to gain a competitive edge in the market. Smart data capture solutions are integrated hardware, software, and connectivity systems that automate the process of capturing and transmitting data from physical objects or documents into digital formats.
How Is The Global Smart Shelves Market 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
Geographical Insights: North America Leading The Smart Shelves Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Smart Shelves Market Definition2
Smart shelves refer to electronically connected shelves that keep track of inventory and provide product information, cross-selling recommendations, and marketing ideas using a combination of sensors, digital displays, and RFID tags. They also give businesses priceless insight into the preferences and purchasing habits of their customers. The smart shelves are used to automatically track inventory in retail stores.
Smart Shelves Global Market Report3 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global smart shelves market report covering trends, opportunities, strategies, and more
The Smart Shelves Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on smart shelves market size, smart shelves market drivers and trends, smart shelves market major players and smart shelves market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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