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The Latin America, Middle East and Africa Smart Shelves Market would witness market growth of 24.5% CAGR during the forecast period (2021-2027).
RFID technology (such as RFID readers, RFID tags, and antennas) is deployed by smart shelves with an aim to automatically monitor inventory in retail stores. Also, weight sensors are deployed by smart shelves that are implemented within shelves or below them. The sensors are utilized in order to monitor the amount of inventory remaining on the shelves. Using smart shelves, retailers can keep an eye on inventory levels and identify when an item is out of stock. Retailers can be notified using smart shelf technology about the theft of goods.
Shelves are highly integrated with sensors with an aim for retail intelligence regarding planogram compliance, product inventory, and customer behavior. A few of the passive sensors just gather information, while other active lift-and-learn sensor systems can respond in real-time with applications, media, and messaging. Since smart shelves gather information about how many times a customer picks up a product versus how many sales happen, this offers retailers with beneficial insights and assists them in optimizing store assortment. As the products on the shelves are marked with RFID tags, this can assist retailers in managing and monitoring inventory and notify staff if shelves are empty, require restocking or products are being missed. Based on the complications of shelves, a few may offer exhaustive information regarding the product and have electronic labels that help in adjusting the cost in the store. Just think about going into our favorite jeans store and being presented with data like materials it is prepared from, its origin, and utilization instructions.
The Hardware market dominated the South Africa Smart Shelves Market by Component 2020, thereby, achieving a market value of $37.7 million by 2027. The Software market is experiencing a CAGR of 26.2% during (2021 - 2027). Additionally, The Services market is expected to witness a CAGR of 26.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Smart Shelves Market is Predict to reach $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.
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