Global Smart Shelves Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at 24.1 % through 2020 to 2026, reaching nearly US$ XX Bn.
The global Smart Shelves market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Smart Shelves report also provides trends by market segments, technology, and investment with a competitive landscape.
Definition of Smart Shelves:
Radio Frequency Identification (RFID)technologies such as RFID tags, RFID readers, and antennas are used in smart shelves to automatically track inventory in retail stores. Weight sensors installed within shelves are used to monitor the amount of inventory on the shelves.
Global Smart Shelves Market Dynamics:
In order to have improved customer experiences, most retailers have recently changed their emphasis to a customer-centric approach. The implementation of a customer-centric approach has resulted in a significant increase in the amount of customer data required to provide these personalized customer experiences. The growing use of sensor technology has aided in the collection of large amounts of data, which is being analyzed to better understand consumer behavior. Thanks to the steadily decreasing cost of sensors, the global smart shelves market is booming. When an object is removed, weight sensors on the smart shelves send a message to the back-end device. Furthermore, when these shelves detect a product that does not belong in that category, they send a message to the back end system as misplaced products.
Implementing smart shelves with IoT and AI can help solve warehouse challenges and monitor goods across the supply chain. In the world of retail and fulfillment, smart shelving is one of the leading innovations that have people's attention. Furthermore, the smart shelf industry will benefit from the growth of the RFID technology market, which will create new opportunities. The smart label business, including RFID, would have a positive effect on the smart shelf market.
Electronic labeling would replace all paper and make it easier to adjust prices across an entire store in a matter of minutes. For instance, Kroger, the biggest supermarket in the United States in terms of sales, as well as the second-largest general store has also begun to implement EDGE, a cloud-based shelf display solution. Prices, ads, nutritional details, coupons, and videos are all shown on the Kroger Enhanced Data Rates for GSM (EDGE) app. (EDGE is a more advanced variant of GSM that provides high-speed 3G over GSM. GSM (Global System for Mobile) Evolution.)
Global Smart Shelves Market Segmentation:
Global Smart Shelves Market1
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Based on the component, the smart shelves market is segmented into radio frequency identification (RFID)tags and readers, electronic shelves label (ESL), internet of things (IoT)sensors, and software and solutions. During the forecast era, the software and solutions segment is expected to expand at a faster rate. Both are necessary tools and platforms for establishing connections between shelf components and cloud servers and gateways. Smart shelf tools and solutions are used for in-store execution, category analysis and preparation, inventory optimization, price, and promotion enforcement. To connect the physical environment to the remote server, COVID-19 has increased the market for applications and solutions in retail. The COVID-19 pandemic has transformed the way of new technology and remote working.
Global Smart Shelves Market Regional Insights:
During the forecast period, Asia Pacific is expected to rise at the fastest pace. Smart shelves market manufacturers are benefiting from the economic reform programs of various APAC countries. Furthermore, the expansion of large-scale retailers in this region is responsible for the market's expected high growth rate in APAC. The use of IoT to address issues with online retail and retailers, as well as changes in consumer preferences, is expected to drive the smart shelves market. Leading Asian retailers are Aeon (Japan), JD.com (China), and Woolworth’s (Australia). China's economy is highly dependent on trade, globalization, cross-border investment, and the success of other major economies worldwide. Besides, the smart shelves market in the Asia Pacific will be driven by an improvement in real-time price changes, the lower total cost of operation (TCO), and improved price accuracy. In 2019, China is projected to surpass the United States as the world's largest retail market. Other major Asian markets, such as Japan, Hong Kong, and South Korea, are experiencing strong retail growth.
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The objective of the report is to present a comprehensive analysis of the Global Smart Shelves Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Smart Shelves Market dynamics, structure by analyzing the market segments and project the global Smart Shelves market size. Clear representation of competitive analysis of key players By Component, price, financial position, product portfolio, growth strategies, and regional presence in the Global Smart Shelves Market make the report investor’s guide.
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Global Smart Shelves Market Scope: Inquire before buying
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Global Smart Shelves Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Smart Shelves Market Key Players
• Happiest minds
• Intel
• PCCW Solutions
• Avery Dennison
• Honeywell
• Huawei Technologies Co. Ltd.
• NXP Semiconductor
• E-Ink Holdings
• Samsung Electronics
• DIEBOLD NIXDORF
• Incorporated
• Software AG
• SoluM
• MINEW
• TraxRetail
• NEXCOM
• Pricer
• Dreamztech Solutions Inc
• Sennco Solutions, Inc
• Tronitag
• MAGO S.A.
• SES-IMAGOTAG
• AWM Smart Shelf
• Wiseshelf
• Focal Systems
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