Increased use of technologies, such as Internet of Things (IoT) and Radio-Frequency Identification (RFID) in retail, is a significant factor driving market

VANCOUVER, BC, CANADA, June 15, 2023/EINPresswire.com/ -- The global smart shelves market size is expected to reach USD 15.34 Billion at a robust revenue CAGR of 22.4% in 2030, according to latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as increased use of technologies such as IoT and RFID in retail. Smart shelves are made with transistors combined with a Radio Frequency Identification Reader (RFID) sensor that is integrated inside, above, or behind shelves. Automation of retail shop inventory is made possible by a sensor network that powers digital shelf technology. A conceptual design and method of operation for sensor-based smart shelves is suggested to lessen manual inventory work of a retail business. These smart shelves have ability to recognize and gauge amount of groceries in stock at a supermarket shop. In addition, Artificial Intelligence (AI) is currently accelerating innovation in digital sphere, to increase operational effectiveness of retail business. When the quantity of grocery products reaches a certain threshold, smart shelves also notifies appropriate employees. Weight sensors and cameras with AI were used in the design of suggested smart shelves.

A recent trend in the market is use of real-time retail innovation. Built on a robust end-to-end Intel architecture, AVA Retail's Smart Shelf technology can identify when a customer picks up or interacts with a key product and quickly launch a video or product-specific presentation, with a highly relevant, dynamic, and enjoyable way to buy. Another trend is use of inventory automation and AI. For instance, an automated inventory solution developed by Adroit Worldwide Media and Intel can help retailers with three major issues, properly tracking hundreds of SKUs on the shelf, automating production and auditing of planograms, and grabbing shoppers attention in-store. Furthermore, with a high degree of accuracy, specially created Arctic Warfare Magnum (AWM) fascia is equipped with super-wide-angle low-light HD cameras that track customer behavior at the point of engagement and recognize facial gestures to gauge whether or not a customer likes a product.

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Analysis of Five Forces

(Employing Porter's five models can aid in developing corporate strategies.)

This analysis of five forces is conducted due to the decentralization of the global Smart Shelves market. The five forces considered are:

Bargaining power of buyers

Threat of new entrants

Risk of rivalry

Bargaining power of suppliers

Threat of substitutes Employing Porter's five models can aid in developing corporate strategies.

Overview of the Market:

 This study focuses on the present state of the Smart Shelves Market and assesses key market statistics, such as CAGR, gross margin, revenue, price, production growth rate, volume, value, market share, and year-over-year growth, through comprehensive primary and secondary research approaches. The report on the India Market includes profiles of major companies based on factors such as markets served, production, revenue, market share, recent developments, and gross profit margins. A detailed market dynamics section examines the market's drivers, constraints, opportunities, influencers, challenges, and trends.

Smart Shelves Market - Analysis of Customer Landscape This research delves into the market's adoption lifecycle, starting from the innovators to the dawdlers, and examines penetration-based adoption rates in different regions.

A few of the significant players in this market are:

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

Moreover, the research provides significant buying criteria and drivers of price sensitivity to help companies assess and formulate their growth strategy.

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Smart Shelves Market – Segmentation Assessment

Component Outlook (Revenue, USD Million; 2019–2030)

Hardware

Cameras

IoT Sensors

Radio Frequency Identification (RDFI) Tags & Readers

Digital Displays

Electronic Shelf Labels

Other Hardware

Software & Solutions

Professional Services

Organization Size Outlook (Revenue, USD Million; 2019–2030)

Large Enterprises

Small & Medium-Sized Enterprises (SMEs)

Application Outlook (Revenue, USD Million; 2019–2030)

Planogram Management

Inventory Management

Pricing Management

Content Management

Other Applications

Geography Overview

The global Smart Shelves Market is divided into North America, APAC, Europe, South America, and the Middle East and Africa. The study gives practical insights and assesses the contribution of each region to the worldwide Smart Shelves Market’s growth.

Smart Shelves Market Reports are discounted by Emergen Research for both single and unlimited user access @ https://www.emergenresearch.com/purchase-enquiry/1400

What are the main pieces of information included in this report on the Smart Shelves Market?

Market CAGR during the predicted period

Comprehensive details on the factors that will drive the Smart Shelves Market's growth between 2023 and 2032.

Accurate estimation of the Smart Shelves Market size and its contribution to the market, with emphasis on the parent market

Realistic predictions of future trends and shifts in consumer behavior

Smart Shelves Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

Thorough analysis of the market's competitive landscape, along with comprehensive vendor information

In-depth assessment of the factors that may impede Smart Shelves Market vendors' expansion.

What are the key advantages for stakeholders in this report on the Smart Shelves Market?

The Smart Shelves Market research report provides a comprehensive analysis of current market trends, estimations, and size dynamics from 2023 to 2030, which can help stakeholders identify potential prospects.

The study highlights the role of buyers and suppliers in aiding stakeholders to make profitable business decisions and expand their supplier-buyer network, as shown in the five forces study by Porter.

In-depth research, as well as market size and segmentation, can assist in identifying current opportunities in the Smart Shelves Market.

The report maps the largest revenue-contributing countries in each region.

The Smart Shelves Market research report also provides an in-depth analysis of the top competitors in the market.

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Table of Contents:

 1 Business Report Overview

1.1 Study Scope

1.2 Market Research by Type

1.3 Application Market

1.4 Studying Goals

1.5 Years Thought about

2 Trends in Global Growth

2.1 Smart Shelves Market Perspective for the World

2.2 Regional Growth Trends

2.3 Market Dynamics

2.3.1Industry Trends

2.3.2 Market Drivers

2.3.3 Market Difficulties

2.3.4 Market Restrictions

3 Key Players' Competition Landscape

3.1 Top Players in the World by Revenue

3.2 Market Share by Company Type Worldwide

3.3 Players Covered: Revenue Order

3.4 Ratio of Global Market Concentration

3.4.1 Ratio of Global Market Concentration

3.4.2 The top 10 and five companies worldwide by revenue

3.5 Key Players Location Served and Head Office

3.6 Major Players, Goods and Services

3.7 Date of Market Entry

3.8 Acquisitions and mergers, growth

4 Market Data by Type from Smart Shelves

4.1 Historic Global Market Size by Type

4.2 Forecasted Market Size by Application for Type 5 Smart Shelves in the World

5.1 Historical Market Size by Application for the World

5.2 Market Size by Application for the World

What makes Emergen Research a preferable choice?

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions.

 We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
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