Asia Pacific Smart Shelves Market By Component (Hardware, Software and Services), By Organization Size (Large Enterprises and Small & Medium Enterprises), By Application (Inventory Management, Pricing Management, Content Management, Planogram Management and Others), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Smart Shelves Market would witness market growth of 24.3% CAGR during the forecast period (2021-2027). Sensor-integrated shelves have more abilities other than arranging for restocking. Firstly, they can recognize and tracking missing products. Secondly, smart shelves can enhance cost labeling and link to touch screens providing information regarding the product. Thirdly, smart shelves can gather information regarding how many products are picked by customers versus how many sales are done.
This process aids in understanding what merchandise is more appealing to customers and this information can be further utilized to manage the assortment of goods. In the next few years, smart-shelf systems could become so advanced that retailers can customize offers to customers as they consider then reject the goods. Lastly, stores could be benefitted from the use of RFID shelf technology as the technology helps in reducing inventory shrinkage by recognizing locations where goods vanish.
During the last year, most of the retailers have predicted the loss in their businesses. However, the future of the shelf would be bright, smart, digital, and interactive. Due to this, many people have put the investment to upgrade their shelves, both in their new stores and in retrofitting their existing stores. This will enable newer digital formats and active sensing. LED shelf labels can differ in range and size across a complete length of the shelf. As they are LED, complete color can be utilized and more information is exhibited such as ads and customer reviews. The readability of LED labels, though, could be a bit harder to the eye for some.
The China market dominated the Asia Pacific Digital Displays Smart Shelves Market by Country 2020, thereby, achieving a market value of $41.5 million by 2027. The Japan market is showcasing a CAGR of 21% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 22.3% during (2021 - 2027).
Based on Component, the market is segmented into Hardware, Software and Services. Hardware Segment is further bifurcated across RFID Tags & Readers, Cameras, Digital Displays, Electronic Shelf Labels, IoT Sensors and Others. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Application, the market is segmented into Inventory Management, Pricing Management, Content Management, Planogram Management and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Smart Shelves Market is Projected to reach USD 7.8 Billion by 2027, at a CAGR of 22.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Intel Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Avery Dennison Corporation, BOE Technology Group Co., Ltd. (SES-Imagotag), E Ink Holdings, Inc. (YFY, Inc.), Pricer AB, Trax Technology Solutions Pte. Ltd., and Nexcom International Co., Ltd.
Scope of the Study
Market Segments Covered in the Report:
- RFID Tags & Readers
- Digital Displays
- Electronic Shelf Labels
- IoT Sensors
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- Inventory Management
- Pricing Management
- Content Management
- Planogram Management
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Honeywell International, Inc.
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Intel Corporation
- Samsung Electronics Co., Ltd. (Samsung Group)
- Avery Dennison Corporation
- BOE Technology Group Co., Ltd. (SES-Imagotag)
- E Ink Holdings, Inc. (YFY, Inc.)
- Pricer AB
- Trax Technology Solutions Pte. Ltd.
- Nexcom International Co., Ltd.
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