Smart shelves market is anticipated to grow at a significant CAGR of 21.4% during the forecast period. Smart Shelves are technology-enabled shelves used to automatically track inventory in retail stores. It enables retailers to check inventory levels and know when a product is out of stock. It enables real-time stock information and inventory management, correct product positioning and alerts if products are displaced real-time shelf tags updates, effective and customized product information display, optimized store performance, and enhanced customer service. Thus, increasing demand for real-time stock information and inventory management in the retail sector, growing implementation of technologies such as IoT and RFID in retail, and growing investment in Smart Shelves and related startups are factors driving the growth of the global smart shelves market. For instance, in May 2022, Avery Dennison Corporation shared details of major investments aimed at expanding its manufacturing capacity and improving factory efficiency in Europe to meet the growing demand for its label and packaging materials. The company announced an investment of USD 45.19 million for the expansion of its facilities at Champ-sur-Drac, France.
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The global smart shelves market is segmented based on the component, enterprise size, and application. Based on the component, the market is segmented into hardware (RFID tags & readers, electronic shelf labels, IoT sensors, and others), software, and services. Based on the enterprise size, the market is sub-segmented into SMEs and large enterprises. Based on the application, the market is sub-segmented into the planogram management, inventory management, pricing management, content management, and others. Among Hardware, electronic shelf labels are anticipated to have considerable growth during the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global SMART SHELVES Market Report Segment
By Component
- Hardware (RFID Tags & Readers, Electronic Shelf Labels, IOT Sensors, and Others),
- Software
- Services
By Enterprise Size
- SMEs
- Large Enterprise
By Application
- Planogram Management
- Inventory Management
- Pricing Management
- Content Management
- Others
Global Smart Shelves Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart shelves market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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