The global Smart Shelves market is anticipated to grow at a considerable CAGR of 21.4% during the forecast period (2022-2028). The advancements in emerging technologies such as artificial intelligence have transformed the retail industry in recent years. AI-driven smart shelves are technology-enabled shelves such as displays, wireless connectivity, and inventory tracking that replace traditional paper pricing systems used in retail stores. AI-driven smart shelves help in the whole process of analyzing images of product shelves in all retail shops efficiently and effectively. It provides minute details of various dimensions of the products on shelves including height, area, price, weight, and many more. It also provides alerts that the number of products is decreasing and need to be on shelves soon.
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The growing implementation of AI and IoT to counter online retail and retailers’ problems and change in consumer preferences is expected to boost the smart shelves market. Retailers that leverage emerging technologies such as AI and IoT benefit from real-time stock information and inventory management. It helps in correct product positioning and alerts, effective and customized product information display, optimized store performance, and enhanced customer service. Also, the key players continue to launch AI-driven new and innovative retail solutions which are driving the demand for the global Smart Shelves market.
For instance, In March 2022, SES-image tag, the global leader in electronic shelf labels and digital solutions for physical commerce, unveiled VISION OS, a leading-edge Retail IoT operating system. V: OS is a Cloud-native device and sensor management solution helping retailers digitize their locations so that they can become more automated, and connected allowing them to leverage insights and data in real-time. V: OS ensures in-store connected devices are always up to date so that retailers have access to the latest features available through the VISION Retail IoT Cloud platform, while also ensuring high security via patented dynamic end-to-end encryption. The operating system also provides seamless integration with Wi-Fi solutions, and effectively reduces complexity for retailers so they can connect V: OS-ready devices to their existing wireless infrastructure.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Component
- By Enterprise Size
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- including Honeywell International Inc, SOLUM Europe Gmbh, Happiest Minds Technologies, PCCW Enterprises Ltd., NXP Semiconductors N.V. and others.
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SMART SHELVES Market Report Segment
By Component
- Hardware (RFID Tags & Readers, Electronic Shelf Labels, IOT Sensors, and Others),
- Software
- Services
By Enterprise Size
- SMEs
- Large Enterprise
By Application
- Planogram Management
- Inventory Management
- Pricing Management
- Content Management
- Others
Smart Shelves Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Diebold Nixdorf, Inc.
- DREAMZTECH US INC.
- Happiest Minds Technologies
- Honeywell International Inc
- Huawei Technologies Co., Ltd.
- MAGO S.A.
- NXP Semiconductors N.V.
- PCCW Enterprises Ltd.
- Samsung Electronics Co., Ltd.
- Sennco Solutions, Inc.
- Software AG
- SOLUM Europe Gmbh
- TroniTAG GmbH
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