According to a new report Global Smart Shelves Market, published by KBV research, The Global Smart Shelves Market size is expected to reach $7.8 billion by 2027, rising at a market growth of 22.3% CAGR during the forecast period.
Based on the component, RFID tags and readers segment would procure the maximum revenue share of the smart shelves market during the forecast period. RFID refers to an automatic and monitoring technology that takes the help of small chips or tags to send a signal to remote scanners. The technology utilizes radio waves for reading data from small chips, called tags.
On the basis of application, the inventory management segment would garner the largest revenue share during the forecast period. Smart shelves integrated with RFID tags and readers, weight sensors, NFC-enabled and proximity sensors are encouraging many retailers to adopt the same as it is a modern automated solution for monitoring inventory and out-of-stock products.
Asia Pacific would show the prominent CAGR during the forecast period. The economic reform initiatives of several countries in the region are creating lucrative growth possibilities for the makers of the smart shelves market. Moreover, the strong grip of the large-scale retailers in this region would push the growth rate of the regional market. The advent of IoT in order to counter online retail and retailer’s problems and shift in consumer inclinations would propel the growth of the overall smart shelves market.
Full Report: https://www.kbvresearch.com/smart-shelves-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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