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

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According to the report, the smart shelves market is projected to reach $10.62 billion by 2030, growing at a CAGR of 22.8% from 2024 to 2030. The market's growth is primarily driven by the increasing focus of retail businesses on optimizing inventory, the rising adoption of electronic shelf labels (ESLs) for pricing management, and growing consumer demand for enhanced in-store experiences. Additionally, the integration of advanced technologies in retail and the expanding number of smart stores are expected to create significant opportunities for market stakeholders.

However, challenges such as the lack of technology adoption in the unorganized retail sector, the shift towards e-commerce, and concerns over data security and privacy may hinder market growth.

Market Insights by Segment

By Offering:
The global smart shelves market is segmented into hardware, software, and services.
The hardware segment is expected to hold the largest share in 2024, driven by the rising number of smart stores and the growing adoption of electronic shelf labels for automated pricing and inventory tracking.
The software segment, however, is projected to grow at the highest CAGR during the forecast period due to increasing demand for software solutions that enable real-time pricing updates, inventory tracking, and data analysis for actionable insights.
Key development:
In February 2024, Qualcomm Technologies, Inc. (U.S.) collaborated with SES-imagotag (France) to develop next-generation ESLs based on Bluetooth standards to improve operational efficiency and enhance customer experiences.

By Application:
The market is categorized into inventory management, remote monitoring, demand forecasting, pricing management, and others.
The inventory management segment is expected to dominate in 2024, driven by the need for efficient stock optimization, faster replenishment, and real-time inventory tracking.
The demand forecasting segment is anticipated to grow at the highest CAGR, supported by the increasing need to enhance supply chain efficiency, minimize stockouts, and improve customer satisfaction.
By End User:
The market is segmented into hypermarkets, supermarkets, department stores, specialty stores, warehouses, and others.
Hypermarkets are expected to account for the largest market share in 2024, driven by the adoption of digitalized price labels, automated checkout systems, and advanced technologies.
The department stores segment is projected to register the highest CAGR due to the rising use of smart shelves for personalized advertisements, automated processes, and inventory management.
By Geography:
Asia-Pacific is expected to dominate the smart shelves market in 2024, attributed to the rapid adoption of technology in retail, increased use of ESLs, and a focus on enhancing customer experiences.
The region is also projected to grow at the highest CAGR during the forecast period due to rising e-commerce penetration and technological advancements in retail.
Key partnership:
In January 2024, Atmosic Technologies (U.S.) partnered with Etag Technology Corporation (China) to develop ultra-low-power wireless solutions for ESL systems.

Key Market Players

Prominent players in the global smart shelves market include:

Intel Corporation (U.S.)
AWM (U.S.)
Panasonic Connect Oceania (Australia)
Pricer AB (Sweden)
SES-imagotag (France)
SOLUM (South Korea)
HCL Technologies Limited (India)
Samsung Electronics Co. Ltd (South Korea)
Huawei Technologies Co., Ltd. (China)
Avery Dennison Corporation (U.S.), among others.
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