Smart Shelf Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Smart Shelf Market Trends and Forecast

The future of the global smart shelf market looks promising with opportunities in the planogram management, inventory management, pricing management, and content management applications. The global smart shelf market is expected to reach an estimated $11.0 billion by 2028 with a CAGR of 23% from 2023 to 2028. The major drivers for this market are increasing demand for real-time inventory data in retail, emergence of advanced technology like IoT and RFID, and growing adoption of electronic labels among stores.

Smart Shelf Market

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Smart Shelf Market by Segment

The study includes trends and forecast for the global smart shelf market by component, enterprise size, application, and region, as follows:

Smart Shelf Market by Component [Shipment Analysis by Value from 2017 to 2028]:

• Hardware
• Software
• Services

Smart Shelf Market by Enterprise Size [Shipment Analysis by Value from 2017 to 2028]:

• SMEs (Small and Medium Enterprise)
• Large Enterprise

Smart Shelf Market by Application [Shipment Analysis by Value from 2017 to 2028]:

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

Smart Shelf Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Smart Shelf Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, smart shelf companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the smart shelf companies profiled in this report include:

• Honeywell
• Huawei Technologies
• Trax Technology Solutions
• Samsung Electronics
• Lenovo PCCW Solutions

Smart Shelf Market Insights

• Lucintel forecasts that software will remain the largest segment over the forecast period because of significant demand for software-based smart shelves to keep track on sales and return on investments (ROI) records, consumer behavior and loyalty patterns, maintaining product categories, and analysis of campaign success rate.
• Inventory management will remain the largest segment due to significant usage of smart shelves to efficiently manage inventories by monitoring stock and delivering alerts whenever stock is low or an item is placed incorrectly on a shelf.
• Europe will remain the largest region over the forecast period due to presence of key players, huge demand for smart shelves in retail, logistic, and healthcare, and continuous expansion of retailers in France.

Features of the Smart Shelf Market

• Market Size Estimates: Smart shelf market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Smart shelf market size by various segments, such as by component, enterprise size, application, and region
• Regional Analysis: Smart shelf market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by component, enterprise size, application, and regions for the smart shelf market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the smart shelf market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the smart shelf market size?
• Answer: The global smart shelf market is expected to reach an estimated $11.0 billion by 2028.
• Q2. What is the growth forecast for smart shelf market?
• Answer: The global smart shelf market is expected to grow with a CAGR of 23% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the smart shelf market?
• Answer: The major drivers for this market are increasing demand for real-time inventory data in retail, emergence of advanced technology like IoT and RFID, and growing adoption of electronic labels among stores.
• Q4. What are the major segments for smart shelf market?
• Answer: The future of the global smart shelf market looks promising with opportunities in the planogram management, inventory management, pricing management, and content management applications.
• Q5. Who are the key smart shelf companies?
• Answer: Some of the key smart shelf companies are as follows:
  • Honeywell
  • Huawei Technologies
  • Trax Technology Solutions
  • Samsung Electronics
  • Lenovo PCCW Solutions
• Q6. Which smart shelf segment will be the largest in future?
• Answer:Lucintel forecasts that software will remain the largest segment over the forecast period because of significant demand for software-based smart shelves to keep track on sales and return on investments (ROI) records, consumer behavior and loyalty patterns, maintaining product categories, and analysis of campaign success rate.
• Q7. In smart shelf market, which region is expected to be the largest in next 5 years?
• Answer: Europe will remain the largest region over the forecast period due to presence of key players, huge demand for smart shelves in retail, logistic, and healthcare, and continuous expansion of retailers in France.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global smart shelf market by component (hardware, software, and services), enterprise size (SMEs and large enterprise), application (planogram management, inventory management, pricing management, content management, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?