Global Smart Shelves Market Size, Share & Trends Analysis Report, By Component (Hardware, Software & Solutions, and Professional Services), By Organization Size (Large Enterprises and Small & Medium-Sized Enterprises), By Application, By Region (North America, Europe, APAC, and Others), and Segment Forecasts, 2024 – 2032
  • Published Date: Jan, 2024
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  • Pages: 200
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  • Methodology
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Global Smart Shelves Market was valued at US $ 2.81 billion in 2023 and is expected to reach US $ 13.49 billion by 2032 growing at a CAGR of 25.1% during the forecast period 2024 – 2032.

The main sources of this increased revenue include increased adoption of technological solutions such as RFID and IoT in the retail sector and the growing acceptance of the smart shelves that avail numerous advantages when compared to the traditional counterparts to supermarkets and customers. Retail outlets have intelligent shelf systems operating using RFID, which includes RFID tags, RFID readers, and antennae to autonomously track assets.

The intelligent shelving that senses the amount of stuff and therefore includes or accommodates weight sensors beneath its parts is one example. The other ability of intelligent shelves is that it provides data collection through IoT which may then be sent to store staff for analysis. This technology can also help supermarkets identify what exactly is appealing for customers and influence how products are arranged in the store. The collected data can then inform digital screens in displaying personal offerings and catalogues, promotional ads, through IoT technology. Shelving that is intelligent helps retailers keep track of inventory levels, as well as know when an item goes out of stock. Smart shelf technology also alerts the merchants about theft incidents relating to the products.

The improvement in inventory management also helps extend revenue growth in the market. Restocking becomes very difficult when periodic personnel shortages meet the demand for many consumer lines that need urgent resolution. If workers do not constantly check the storage capacity they will result to stockouts issues that affect the customer satisfaction and lead to fewer sales through poor customer satisfaction.

As a result, retailers use smart shelves and automated inventory management, which allows them to monitor their inventory continuously. Integrated AI with weather, history, just before closing for specific hour of day, and finally, by quantity, allows very careful monitoring of production. For instance, the data may be used by the bakers to establish where and when the temperature will rise enough for grilling so that they can prepare more bread as well.

The Smart Shelves Trend Analysis

Inventory Control:

  • Smart shelving helps keep up with real time inventory levels so as to minimize the possibility of facing stock out or overstock events.
  • Automated Replenishment: Replenishment orders that are triggered by smart shelf based on low inventory level can lead to optimal supply chain efficiency optimization.

Customer Participation:

  • Interactive Displays: Some intelligent shelves have even gone further to include digital displays that enable information sharing on products, promotional offers as well as personalized options for each consumer.
  • Smart shelves increase user convenience during this transaction as shoppers benefit from the most accurate real-time data on product locations and quantities available.

The Analytics of Data:

  • Through smart shelving, merchants collect customer interaction information, enabling them to analyse the customer’s preferences and behaviour.
  • Data collected from such intelligent shelves enable retailers to redesign stores layout so that products are placed in locations where they can be sold more effectively depending on customers’ tastes and their traffic.

Efficient Supply Chain Management:

  • Real-time inventory surveillance reduces losses to theft and shrinkage.
  • Smart shelves ensure greater visibility and agility in the supply chain by supplying data on moving goods across the store–warehouse linkage.

Segmentation Analysis of the Smart Shelves Market

Component Insights

The global market for smart shelving is divided into three segments: hardware, software and solutions, software products, and professional services. The software and solutions segment is expected to account for the highest revenue during the forecast period in the global market. Smart shelf software and solutions provide several benefits, among which includes higher sales, ROI, understanding of customer behavior and brand loyalty, secondary positioning or product category strategy, evaluation of efficiency of campaigns or initiatives and improvement in inventory and logistic performance. The use of smart shelf software and solutions also enables

The hardware segment is expected to grow evenly or at a slow rate by revenue across the forecast period. That, in turn, is because today’s hardware can work on multiple devices like mobile services suppliers, languages and RF devices. Moreover, incorporation of circuits with microcontrollers could also be added. They further use REST design that is very interoperable and extendable; supports HF and UHF wireless technology; easy to interface with POS, store, or even ERP systems in warehouse enterprise level; and facilitates addition of new data to the platform.

Organization Size Insights

The market for smart shelves has been divided into two segments: based on the size of the organisations; large enterprises and small and medium enterprises. The large enterprise segment will dominate in terms of revenue during the forecast period. Smart shelving is increasingly common in large organisations dealing with many products like supermarket or warehouse.

However, it should be noted that manual inventory management follows old school methodology and is appropriate only for micro sized retailers – facilities covering an area not exceeding 500 metres squared. This process involves using expensive methods, requiring longer period of time and prone to be committing errors being carried out on wider scale. Retailers can prevent and minimize “shrinkage in retail” through automation of the inventory procedure, and consequently save time and money while improving efficacy.

Key market participants are expected to exhibit elevated levels of activity, resulting in an unprecedented boom in the revenue generated by SMEs during the forecast period. Since the early 2000s, smart shelving has become one of the new alternative technologies available for the retail industry. Smart shelves have the capacity to not only monitor stock levels through different sensors (light, optical, weight) but also determine customer interest and improve the in-stores shopping experience. In recent times, Amazon created Dash smart shelf, which is meant precisely for smaller companies.

Application Insights

The market for smart shelves has been segmented according to application into the following categories: This includes planogram management, inventory management, pricing management, content management, among others. Smart shelves will, therefore contribute significantly to a substantial amount of revenue expected in order to be accrued in the management segment over the forecast period.

Personnel put in much effort on inventory management for years to avoid losses, having sufficient stock, as well as preventing stockouts. Because of smart shelving they get notified when an item is put mistakenly into a shelf or it’s running out. Three fundamental elements comprise intelligent shelving units: RFID tags, readers, antennas.

The sector on which the planogram management segment will record significant revenue growth during the forecast period. Such insightful visual merchandising helps in differentiating between a successful transaction and an unused product left sitting on the shelves. An intelligent shelving system makes monitoring any retailing establishment’s shelf condition easy at a particular day. Historical data analysis can be used to optimize how presentation of products with high demand can be improved thus raising sell through. The incorporation of this information in an existing planogram compliance programme is also simple and clever marketers can easily find such occasions for improving the placement of items. These form a crucial part of the growth in this direction.

Regional Analysis of the Smart Shelves Market

The smart shelves market in North America.

In this outlook period, the North America market is expected to be the highest revenue share provider because major market players are more active at these countries. A partnership between Avery Dennison and SAP to fight against waste in the retail industry has been exemplified by their joining of analytic product clouds. Such measures would go a long way in helping supermarkets monitor and manage expiry dates. An OEM agreement lets Avery Dennison’s atma.io connect product cloud be integrated with SAP Analytics Cloud that is part of the SAP Business Technology Platform solution. According to some sources, SAP Analytics’ dashboard also gets information from products labelled with very Dennison’s digital recognition, including rfid and atma.io.

Smart Shelves’ Asia-Pacific market.

Key market participants have high levels of activity in most countries under Asia Pacific market which will drive the highest CAGR over the years of forecast. During the pandemic, Nielsen, a global measurement and data company as well Trax, an industry leader in computer vision, retail analytics and other services, announced improvements in the data platforms they launched. It helps the CPG brands to advise the retailer and grow its category and sales despite the Covid crisis the retailer needs extra advice then this the CPG would make itself a true advisor to its partner and be needed during this difficult time. Therefore, it expected that demand for smart shelving would rise as a result of the higher activities of main market players in that region and thus the market revenue growth would escalate.

Smart Shelves Market in Europe

The forecast period is expected to experience a gradual growth rate of the European market due to the intensified efforts by primary market movers in various countries within this region. Such as SES-imagotag, a renowned provider of IT solutions in the bricks and mortar shopper space and Fnac Darty Europe’s trailblazer within consumer electronics & entertainment who just announced its ambitious program on incorporating latest technologies into more than Following some recent investment, Fnac Darty has introduced electronic labelling and digital solutions across forty stores in Spain. The group will push through with its digital transformation once SES-technology imagotags are available. Consequently, an increase demand in smart shelving triggered by the activities that are likely to take place in this region will lead to a rise in rate of market revenue growth thereby scaling up the market development in that area.

Top Key Players

  • SES-Imagotag
  • Pricer
  • Trax Image Recognition
  • Avery Dennison Corporation
  • Samsung
  • E Ink Holding Inc.
  • Intel Corporation
  • Huawei Technologies Co., Ltd.
  • Honeywell International Inc.
  • Solum

Key Industry Developments in the Smart Shelves Market

  • On July 29th, 2020, Auchan Retail Portugal (one of the leading grocery retailers in Europe) agreed with Trax (a notable provider of computer vision and analytical solutions to the retail industry). This agreement requires Trax to equip all 34 supermarkets and hypermarkets of Auchan Retail Portugal with the robot suit for autonomous shelf monitoring. Also, one of the top grocery retailers in Europe is Auchan Retail Portugal. It all started at the Auchan Alfragide supermarket located in Lisbon.
  • On the 27th of July’ 2021, Avery Dennison spent $1.45 billion in cash to acquire vestcom, also privately owned company specialized in high quality pricing labels. Some of the closing adjustments included in the acquisition were provided for in the contract. Through integrating and smoothening out the point-of-sale data, this company uses data management features that convey item-specific and price integrated messaging at the moment a shopper makes a purchase decision. This deal came to an end at the close of September, in 2021.

Report Components Details
Base Year 2022
Forecast Period 2022-2030
Quantitative Units Revenue in US $
Segments Covered Component Outlook: Hardware, Cameras, IoT Sensors, Radio Frequency Identification (RDFI) Tags & Readers, Digital Displays, Electronic Shelf Labels, Other Hardware Software & Solutions Professional Services Organization Size: Large Enterprises, Small & Medium-Sized Enterprises (SMEs) Application Outlook: Planogram Management, Inventory Management, Pricing Management, Content Management, Other Applications

Table of Contents

  1. Introduction Of Global Smart Shelves Market
    1. Overview of the Market
    2. Scope of Report
    3. Assumptions
  2. Executive Summary
  3. Research Methodology
    1. Data Mining
    2. Validation
    3. Primary Interviews
    4. List of Data Sources
  4. Global Smart Shelves Market Outlook
    1. Overview
    2. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
    3. Porters Five Force Model
      1. Bargaining Power of Suppliers
      2. Threat of New Entrants
      3. Threat of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power among Buyers
    4. Value Chain Analysis
  5. Global Smart Shelves Market, By Component
    1. Overview
    2. Hardware
    3. Software & Solutions
    4. Professional Services
  6. Global Smart Shelves Market, By Organization Size
    1. Overview
    2. Large Enterprises
    3. Small & Medium-Sized Enterprises
  7. Global Smart Shelves Market, By Application
    1. Overview
  8. Global Smart Shelves Market, By Region
    1. North America
      1. U.S.
      2. Canada
    2. Europe
      1. Germany
      2. U.K.
      3. France
      4. Rest of Europe
    3. Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Singapore
      6. Malaysia
      7. Australia
      8. Thailand
      9. Indonesia
      10. Philippines
      11. Rest of Asia Pacific
    4. Others
      1. Saudi Arabia
      2. U.A.E.
      3. South Africa
      4. Egypt
      5. Israel
      6. Rest of Middle East and Africa (MEA)
      7. Brazil
      8. Argentina
      9. Mexico
      10. Rest of South America
  9. Company Profiles
    1. SES-Imagotag
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    2. Pricer
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    3. Trax Image Recognition
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    4. Avery Dennison Corporation
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    5. Samsung
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    6. E Ink Holding Inc.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    7. Intel Corporation
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    8. Huawei Technologies Co., Ltd.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    9. Honeywell International Inc.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    10. Solum
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News

Global Smart Shelves Market Segmentation

Smart Shelves by Component: Market Size & Forecast 2024-2032

Hardware

  • Cameras
  • IoT Sensors
  • Radio Frequency Identification (RDFI) Tags & Readers
  • Digital Displays
  • Electronic Shelf Labels
  • Other Hardware

Software & Solutions

Professional Services

Smart Shelves by Organization Size: Market Size & Forecast 2024-2032

  • Large Enterprises
  • Small & Medium-Sized Enterprises (SMEs)

Smart Shelves by Application: Market Size & Forecast 2024-2032

  • Planogram Management
  • Inventory Management
  • Pricing Management
  • Content Management
  • Other Applications

Smart Shelves by Geography: Market Size & Forecast 2024-2032

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Columbia, Rest of South America)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

  • SES-Imagotag
  • Pricer
  • Trax Image Recognition
  • Avery Dennison Corporation
  • Samsung
  • E Ink Holding Inc.
  • Intel Corporation
  • Huawei Technologies Co., Ltd.
  • Honeywell International Inc.
  • Solum

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