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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Among regions, the Europe region holds the largest market size. The growth in this region is attributed mainly to the presence of key players in the region. The presence of well-developed digital infrastructure and adoption of smart technology-driven retail solutions among the end-users in the region are some of the factors driving the growth of the smart shelves market in the region. For instance, in June 2022, Pricer AB received an order of approximately 90 MSEK from the Dutch co-operative supermarket chain PLUS to equip 128 additional stores, previously under the Coop banner, with electronic shelf labels.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- 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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