Global Smart Shelves Market Report and Forecast 2024-2032

Global Smart Shelves Market Outlook

The global smart shelves market size reached approximately USD 4.0 billion in 2023. The market is further projected to grow at a CAGR of 23.1% between 2024 and 2032, reaching a value of USD 25.78 billion by 2032.

Key Trends in the Market

Smart shelves refers to the integration of networking and technology with retail shelves. This allows the shelves to detect when an item is removed or purchased from the shelf, aiding in tracking of inventory and restock requirement. Smart shelves use a combination of RFID tags, sensors, and digital displays to provide detailed cross-selling and marketing suggestions and product information.

• The increased requirement from the retail sector due to the ability of the shelves to notify back-end systems about the quantity of the products and to detect theft and misplacement is aiding the smart shelves market growth. They also provide access to the shelf or store information remotely, enabling visibility of cross selling of products.

• Smart shelves also aid retailers in tracking the product in the supply chain process. The RFID allows the retailers to enhance their vertical integration and produce products that are more likely to sell, supporting the market expansion.

• The rising investments by the key market players are providing lucrative growth opportunities to the market. The integration of smart shelves with frictionless shopping concepts are expected to enhance the shopping experience of the consumers by allowing them to purchase products without having to go through the shopping process.

Global Smart Shelves Market Analysis

On the basis of component, the market is divided into hardware, software, and services, with hardware sub-divided by type into electronic shelf labels (ESL), cameras, IoT sensors, and RFID tags and readers, among others.

Based on applications the market is divided into inventory management, planogram management, pricing management, and content management, among others. On the basis of region, the smart shelves market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Samsung Electronics Co. Ltd. 

• Intel Corporation 

• Huawei Technologies Co. Ltd. 

• Trax Technology Solutions Pte Ltd. 

• Amazon.com, Inc. 

• Lenovo PCCW Solutions Limited 

• SoluM Europe GmbH 

• NEXCOM International Co., Ltd. 

• Pricer AB 

• Dreamztech Us Inc. 

• Others

Market Share by Applications

Pricing management is expected to account for a significant smart shelves market share in the coming years owing to the various advantages associated with the utilisation of smart shelves for pricing management including quicker reprice, more repricing options, and synchronisation with online channels. The availability of data from the shelves also allows the retailers to develop new pricing strategies. The convenient repricing allows the retailers to alter the prices across all distribution channels, avoiding the possibility of dissimilar pricing across different platforms, providing an omnichannel shopping experience to the consumers.

Market Share by Region

Europe is anticipated to witness significant growth over the forecast period. This growth can be attributed to the rising product adoption by manufacturers and retailers for collection of real time inventory data for optimisation of stock availability. The ability of smart shelves to provide cost efficient ways to deliver rich media, explain product solution, harmonise in-store and online channels, and update pricing is boosting the smart shelves market demand in the region.

Competitive Landscape

Samsung Electronics Co. Ltd. is a multinational corporation known for manufacturing various industrial and consumer electronic products, including smart shelves, personal computers, and semiconductors, among others. The company was founded in 1938 and is headquartered in Suwon-si, South Korea.

Intel Corporation, headquartered in California, United States, specialises in autonomous driving, smart shelves, artificial intelligence, and manufacturing and designing of semiconductor. The company supplies microprocessors to various brands including Lenovo, Dell, and Acer, among others.

Huawei Technologies Co. Ltd. is involved in the development, design, and manufacture of consumer electronics, telecommunication equipment, and smart devices, among others. The company was founded in 1987 and is headquartered in Shenzhen, China.

Other smart shelves market key players include Trax Technology Solutions Pte Ltd., Amazon.com, Inc., Lenovo PCCW Solutions Limited, SoluM Europe GmbH, NEXCOM International Co., Ltd., Pricer AB, and Dreamztech Us Inc., among others.

Key Highlights of the Report