Global Smart Shelves Market is expected to register a notable CAGR over the forecast period - Research Nester

Smart shelves refer to the shelf that is transistorized with a radio frequency identification reader (RFID) sensor which is equipped inside, above or behind the shelves. Nowadays, hypermarkets are opting for smart shelves as they help in optimization and increase their sales.

“Smart Shelves Market: Global Demand Analysis & Opportunity Outlook 2024”

The global smart shelves market is segmented into type of retail outlet such as departmental stores, supermarket, discount stores, specialty stores and others (dollar stores, malls, pharmacy store). Among these segments, supermarket segment is expected to occupy the top position in the market. Supermarkets are adopting smart shelves as it aids them in optimization and increases their sale. Further, factors such as evolving shopper expectations and increasing IT spending by retailers is anticipated to foster the growth of smart shelves market during the forecast period.

Global smart shelves market is expected to flourish at a significant CAGR over the forecast period. Moreover, the global smart shelves market is projected to generate substantial revenue by the end of 2024. Factors such as rising adoption of smart shopping by consumers, better operation management are expected to expand the market of smart shelves.

North America accounted for the largest market share of overall smart shelves market in 2016. Further, North America is expected to continue its dominance over the forecast period i.e. 2017-2024. High inclination of consumers towards offline store shopping is expected to provide significant boost to the smart shelves market in the region. Asia Pacific is projected to witness noteworthy growth over the forecast period. This can be attributed to the rising disposable income coupled with increasing population in the region.

Enhanced Shopping Experience

Factors such as increasing demand from consumer for personalized and efficient shopping experience is expected to trigger the growth of the smart shelves market. Further, smart shelves also assist the retailers to understand the consumer spending patterns. These factors and benefits of smart shelves over other traditional shelves are anticipated to intensify the growth of the smart shelves market.  

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Increasing Adoption by Retailers

Rising adoption of smart shelves by the retailers is expected to be one of the key growth drivers for smart shelves market during the forecast period. Advantages of smart shelves such a high revenue generation, low stock alert, data on consumer preferences and others are expected to accelerate the growth of the smart camera market. Although, high cost of smart shelves and increasing penetration of online stores are some of the factors that are likely to inhibit the growth of the smart shelves market in the near future.

The report titled “Smart Shelves Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global Smart Shelves Market in terms of market segmentation by type of retail outlet and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global smart shelves market which includes company profiling of Mondelez International Inc., The Kroger Company, Powershelf, Procter & Gamble (Gillette), WestRock, T-Ink, Seeionic Inc., The Nielsen Company, Panasonic Corporation and NeWave Sensor Solutions. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart shelves market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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