Global Smart Shelves Market Share & Trends Estimated to Reach USD 14.88 Billion By 2030, Expecting 22.2% CAGR Rise: Polaris Market Research

Polaris Market Research recently published [115+ Pages] research report on "Smart Shelves Market Share, Size, Trends, Industry Analysis Report, By Components (Hardware, Software, Services); By Enterprise Size (SMEs, Large Enterprise); By Application; By Region; Segment Forecast, 2022 - 2030" in its research database.

NEW YORK, Nov. 11, 2022 /PRNewswire/ -- According to the research report, the global smart shelves market share & trends increases from USD 2.64 Billion in 2021 to reach USD 14.88 Billion by 2030, growing at a CAGR of 22.2% during the forecast period.

What are Smart Shelves? What are the Projected Value of Smart Shelves Market Size & Share?

• Overview

Smart shelves refer to the incorporation of wireless technology that automatically keeps track of inventory in any retail store. They use weight sensors that detect when an item has been purchased or removed from a shelf. This ultimately provides manufacturers with real-time data about the usage of their products and get sales data, as well as stock availability. Smart shelves also enhance the customer shopping experience by providing detailed product information.

The store shelves are also equipped with 3D cameras, weight sensors, proximity sensors, NFC, microphones, RFID tags, electronic printed tags, LED sensors, optical sensors, IOT sensors, etc. that track shelf stock. Factors such as rising demand for real-time stock information in retail and growing adoption of technologies such as IoT and RFID are anticipated to drive the demand for smart shelves market.

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• Report introduction, overview, and in-depth industry analysis
• Breakdown data by regions, type, players, and applications
• Competitive landscape and leading competitor market shares
• 110+ pages research report
• Offers chapter-wise instruction on request
• Includes market presence across different geographies with share, size, and trends
• Updated list of tables and figures
• The report covers leading players with their business strategies
• Factors and fact research methodology

What are the key driving factors for the growth of the Smart Shelves Market?

• Increasing adoption of smart shelves by small and medium size retailers pushes the market growth

Increased adoption of advanced inventory management to make restocking decisions and rising preference for smart shelves and similar innovators is fueling the growth of the market. A surge in technological advancements in the retail sector across the globe is expected to propel the smart shelves market size over the forecast period. The market is also driven by computerized shelves that have increased retailers' knowledge and power.

Moreover, rising demand for simplification of the workflow at retail stores, increasing requirement for better surveillance and monitoring at physical retail stores, and high demand to maintain inventory accuracy and supply chain optimization are some of the prominent smart shelves market trends estimated to boost it growth during the forecast period. In addition, growing adoption of smart shelves by small and medium size retailers is likely to augment the industry growth.

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Recent Developments

• In March 2022, SES-imagotag introduced the IoT sustainability programme, which extends the lifespan of connected devices used in stores through enhanced security, over-the-air updates, improved battery life, and optimized display management.
• In February 2020, E Ink Holdings, the leading developer of electronic ink technology, unveiled the 4 color E-Ink SpectraTM 3100, for retail signage and electronic shelf labels (ESL).

Who are the top players operating in the Smart Shelves Market?

• Samsung Electronics Co. Ltd.
• Happiest minds
• Avery Dennison
• Huawei Technologies Co. Ltd
• Nexcom International Co. Ltd.
• PCCW Solutions
• Intel
• Honeywell International Inc.
• SES-Imagotag
• NXP Semiconductor
• Samsung Electronics
• E-Ink Holdings
• Software AG
• MINEW
• TraxRetail
• Pricer AB

For Additional List of Players and Detail Information, Download a Report PDF Brochure

Which is major segment in Smart Shelves market?

• The hardware segment is estimated to grow at the fastest rate

Based on component, hardware accounted for the biggest smart shelves market share in 2021. Components are known as the internal hardware components of a computer, while peripherals are the external hardware devices. An optical scanner elucidates the printed image on paper using light-emitting elements. A light sensor discovers the location and color of the markings on the page.

• Small and Medium Enterprises (SMEs) held the second-largest revenue share in 2021

The enterprise size market segmentation is divided into SMEs and Large Enterprises. Small businesses' inherent flexibility and agility allow them to react quickly compared to broader enterprises. This can be an important advantage in a constantly changing market. Innovative services are frequently launched by small enterprises

• The pricing management segment is forecasted to show the fastest growth in the smart shelves market

Based on application, pricing management accounted for the major share in 2021. Price management has become necessary due to the rising competition and hyper-connected consumers. Initially, consumers identify several distribution channels at once and search for a fair price for the product. Due to consumers' behavior of comparing prices, merchants have embraced a similar pricing approach across all channels.

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Smart Shelves Market: Report Scope & Brief Analysis

Geographic Overview

• Smart shelves market in Europe is anticipated to generate significant growth

Based on geography, the Europe region is witnessing the largest growth in the market. This is because the retail industry is experiencing a high demand for smart devices. According to estimates, in upcoming years, smart devices may track and identify items and control inventory operations. These smart shelves will also reduce manual errors to a larger extent. The technology and automation implemented in the smart shelves have led to providing a better shopping experience to customers. These factors are majorly driving the market growth in Europe.

Moreover, the rising penetration of electronic shelf labels in the retail business, especially in nations such as France, Italy, Belgium, Germany, and other European countries, is further anticipated to bolster the smart shelves industry growth in the region.

Browse the Detail Report "Smart Shelves Market Share, Size, Trends, Industry Analysis Report, By Components (Hardware, Software, Services); By Enterprise Size (SMEs, Large Enterprise); By Application; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/smart-shelves-market

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Polaris Market Research has segmented the smart shelves market report based on component, enterprise size, application, and region:

By Component Outlook

• Hardware
• Software
• Services

By Enterprise Size Outlook

• SMEs
• Large Enterprise

By Application Outlook

• Planogram Management
• Inventory Management
• Pricing Management
• Content Management
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, U.A.E., Israel, South Africa)

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