Meticulous Research®—a leading global market research company, published a research report titled, 'Smart Shelves Market by Offering (Hardware, Software, Services), Application (Inventory Management, Remote Monitoring, Demand Forecasting, Pricing Management, Others), End User (Hypermarkets, Supermarket, Others), & Geography - Global Forecast to 2030.’

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According to Meticulous Research®'s latest report, the smart shelves market is projected to reach $10.62 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 22.8% from 2023 to 2030. This growth is primarily driven by retail businesses' increasing focus on optimizing inventory management, the rising use of electronic shelf labels for efficient pricing, and growing consumer expectations for enhanced in-store experiences. Furthermore, the integration of cutting-edge technologies in retail and the expansion of smart stores are anticipated to offer substantial growth opportunities for market stakeholders.

Despite these opportunities, the market encounters challenges such as slow technology adoption in the unorganized retail sector, the shift towards e-commerce platforms, and concerns about data security and privacy.

The global smart shelves market is categorized into hardware, software, and services. The hardware segment is expected to lead in 2023, fueled by the proliferation of smart stores and the growing use of electronic shelf labels for automated pricing and inventory management. Meanwhile, the software segment is predicted to have the highest CAGR during the forecast period due to increasing demand for smart shelf software that supports real-time pricing updates and inventory tracking.

In terms of applications, inventory management is forecasted to be the largest segment in 2023, driven by competitive pressures among retailers to optimize shelf stock. Conversely, the demand forecasting segment is expected to grow at the highest rate, spurred by the need for better inventory optimization and supply chain efficiency.

By end-user, hypermarkets are projected to dominate in 2023 due to their ongoing adoption of advanced technologies and digital price labels for dynamic pricing. However, department stores are anticipated to experience the highest CAGR during the forecast period as they focus on superior customer service and smart shelves with digital displays for personalized advertising.

Geographically, Asia-Pacific is poised to lead the global smart shelves market in 2023, driven by rapid economic growth, significant investments in retail technology, and widespread adoption of electronic shelf labels to enhance customer experiences.

Key players in the smart shelves market include industry leaders such as Intel Corporation, Pricer AB, and SES-imagotag, who are actively working on product development and innovation to capitalize on emerging opportunities and meet evolving customer demands.
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