Smart Shelves Industry Outlook 2025-2029: Market Set to Cross $9.7 Billion Milestone

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How Large Will the Smart Shelves Market Size By 2025?
The market size of smart shelves has seen a rapid expansion in the past few years. The market is projected to escalate from $3.99 billion in 2024 to $4.77 billion by 2025, marking a compound annual growth rate (CAGR) of 19.6%. This significant surge during the historical period can be credited to factors such as customer interaction, data-influenced decisions, optimization of the supply chain, improved shopping experience, and reduction in instances of stock-outs.

How Big Is the Smart Shelves Market Size Expected to Grow by 2029?
Expectations indicate a swift expansion in the size of the smart shelves market in the coming years. By 2029, its predicted worth will amount to $9.7 billion, expanding at a Compound Annual Growth Rate (CAGR) of 19.4%. This projected expansion in the tipping point period can be traced back to a preference for contact-free shopping experiences, the emergence of autonomous stores, a need for instantaneous pricing updates, the personalization of shelf exhibits, the use of sustainable components in shelf assembly, as well as the international proliferation of intelligent retail. The forecast spans several key trend lines such as the incorporation of RFID technology, automated inventory management, electronic shelf labels (ESLs), emphasis on secure and theft-resistant initiatives, partnerships with online commerce platforms, and a demand for real-time inventory visibility.

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Which Key Market Drivers Powering Smart Shelves Market Expansion and Growth?
As customer personalization and customization continue to rise, it's likely to fuel the expansion of the smart shelf market. Personalization involves tailoring or modifying a product to better fit a customer's preferences. Customization takes place when a customer manually adjusts a product to cater to their requirements. The advantages offered by smart shelves, including maximizing retailer profits and providing a customised shopping experience, are projected to positively influence the international smart shelf market. As reported by IBM Watson Advertising, an American AI-powered advertising solution, in January 2022, 56% of customers desired fully customized brand interactions. Moreover, in return for a more personalized shopping experience, 70% of millennials are open to companies tracking their browsing and purchasing patterns. Additionally, for 59% of customers, it's vital to be engaged in a personalized manner based on past interactions to secure their business. Hence, the rise in customer personalization and customization is predicted to steer the growth of the smart shelf market.

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What Are the Key Trends Driving Smart Shelves Market Growth?
The rise in technology is a notable trend that is gaining traction in the market for smart shelves. Market leaders in the industry are prioritizing technological innovation to maintain their competitiveness in the market. For example, in October 2022, Unified Natural Foods Inc., a firm based in the US that specializes in natural and organic food, launched a smart shelf system that employs new Eli QR code technology. This means that as shoppers navigate the store, they will be able to access product information. The Eli QR code is a superior, safer variant of a QR code that can be scanned to provide shoppers with a wealth of digital content and further information about a product, all on their phones and without requiring an application. The information contained in Eli QR codes, such as nutritional details, allergen information, promotional deals, customer feedback, product traceability, and brand narratives, will be sourced from the provider and preset for every individual UPC, thereby enhancing the shopping experience for the consumer.

What Are the Emerging Segments in the Smart Shelves Market?
The smart shelvesmarket covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprise
3) By Application: Planogram Management, Inventory Management, Pricing Management, Content Management, Other Applications
4) By End-User: Departmental Stores, Supermarkets, Specialty Stores, Other End-Users

Subsegments:
1) By Hardware: Sensors, RFID Tags, Cameras, IoT Devices, Display Screens
2) By Software: Inventory Management Software, Analytics And Reporting Software, Cloud-Based Platforms, Mobile Applications
3) By Services: Installation Services, Maintenance And Support Services, Consulting Services, Training Services

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Who Are the Global Leaders in the Smart Shelves Market?
Major companies operating in the smart shelves market are Happiest Minds Technologies Pvt. Ltd., Intel Corporation, Avery International Corporation, Honeywell International Inc., Huawei Technologies Co. Ltd., NXP Semiconductors N.V., E Ink Corporation, Samsung Electronics Co. Ltd., Software AG, Cisco Systems Inc., Trax Retail Inc., Minew Technologies Co. Ltd., SES-Imagotag SA, Pricer AB, SOLUM Europe GmbH, BOE Technology Group Co. Ltd., Lenovo PCCW Solutions Limited, Microsoft Corporation, Amazon.com Inc., Google LLC, IBM Corporation, Oracle Corporation, SAP SE, Zebra Technologies Corporation, Advantech Co. Ltd., NCR Corporation, Toshiba Corporation, Panasonic Corporation, LG Electronics Inc., NEC Corporation, Fujitsu Limited, Hewlett Packard Enterprise Company, Dell Technologies Inc.

Which are the Top Profitable Regional Markets for the Smart Shelves Industry?
North America was the largest region in the smart shelves market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart shelves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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