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What fueled the previous growth in the smart shelves market?

The market for smart shelves has seen remarkable growth in recent years, with its size expected to increase from $3.99 billion in 2024 to $4.79 billion in 2025, echoing a compound annual growth rate (CAGR) of 20.2%. The surge during the historic period can be credited to better customer engagement, decisions that are powered by data, improvements in supply chain optimization, a superior shopping experience, and a decrease in out-of-stock situations.

What will be the smart shelves market size in the future?

In the coming years, the market size for smart shelves is anticipated to expand swiftly, reaching $9.81 billion in 2029 with a compound annual growth rate (CAGR) of 19.6%. This growth during the forecast period is expected to be driven by factors such as the preference for contactless shopping, the rise of autonomous stores, the requirement for immediate pricing updates, shelf display customization, the use of sustainable materials in shelf building, and the worldwide expansion of smart retail. Notable trends during this period are predicted to comprise the implementation of RFID technology, automation in inventory management, electronic shelf labels (ESLs), an increased attention to security and theft prevention, collaborations with e-commerce platforms, and a demand for real-time inventory visibility.

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What main drivers are fueling expansion in the smart shelves market?

The smart shelf market stands to gain momentum from the growing demand for customer personalization and customization. Personalization involves the modification or design of a product to align with a customer’s preferences and requirements, while customization refers to the customer independently adjusting a product to meet their specific needs. These processes are facilitated by smart shelves, which not only maximize retailer profits but also deliver a personalized shopping experience. This is predicted to positively affect the worldwide market of smart shelves. For example, AI-powered advertising solution, IBM Watson Advertising, reported in January 2022 that 56% of customers desire all their interactions with brands to be customized. In return for an enhanced personalized shopping experience, 70% of millennials are prepared to allow companies to track their online browsing and purchasing behaviors. Moreover, 59% of customers believe that engaging them in a customized manner based on their past interactions is key to securing their patronage. Hence, the smart shelves market’s projected growth is largely attributed to the rise in consumer personalization and customization.

What key areas define the segmentation of the global smart shelves market?

The smart shelves market 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 dominant players expanding their reach 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.

How are evolving market trends shaping smart shelves Strategies?

The rise in technology is a leading trend observed in the smart shelves market. Prominent market participants in this space are focusing on technological advancements to maintain their market standing. For example, in October 2022, Unified Natural Foods Inc., an American company specializing in natural and organic foods, launched a smart shelf tag system using Eli QR code technology, enabling consumers to access product details while shopping in physical stores. These Eli QR codes offer an enhanced, secure version of QR codes and can be scanned to offer a wealth of information about a product on the customer’s smartphone without needing an app. Sourced from the provider, the content for each unique UPC will be auto-filled to reveal nutrition data, allergen information, promotional deals, customer feedback, trackability specifics, and brand narratives, consequently enriching the customer’s shopping journey.

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Which regions are emerging as leaders in the smart shelves market?

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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