Smart Shelves Market

Smart Shelves Market

Smart Shelves Market Forecasts to 2030 - Global Analysis By Component (Hardware, Software & Solutions, Professional Services and Other Components), Organization Size (Large Enterprises, Small & Medium-Sized Enterprises (SMEs) and Other Organization Sizes), Application, End User and By Geography

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Published: 2023 ID: SMRC23398

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2023)

US $3.32 BN

Projected Year Value (2030)

US $14.33 BN

CAGR (2023 - 2030)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market


According to Stratistics MRC, the Global Smart Shelves Market is accounted for $3.32 billion in 2023 and is expected to reach $14.33 billion by 2030 growing at a CAGR of 23.2% during the forecast period. Smart shelves that deals with technologically advanced shelving systems used in retail environments. Smart shelves incorporate various sensors, Internet of Things (IoT) connectivity, and data analytics capabilities to transform traditional store shelves into intelligent and interactive displays. These shelves can monitor inventory levels, track product movements, and provide real-time data on product availability and stock levels. Smart shelves can also collect data on customer interactions, such as product interactions and purchasing patterns, which can be leveraged to gain insights and make informed business decisions.

According to the US Census Bureau, commercial e-commerce in the United States was about USD 266 billion from July to September 2022, a 3% increase over the past quarter.

Market Dynamics:


Increased use of technologies like IoT and RFID

Smart technologies like IoT and RFID are driving the adoption of smart shelves. RFID technology is becoming increasingly significant in enhancing the competitiveness of contemporary retail organizations, leading to the emergence of smart retail and intense competition among businesses. Due to the increase in labor expenses and the need to lower the operational costs of logistics, there is a greater demand for the quick implementation of RFID in modern retail.


Privacy concerns related to in build data tags

The importance of privacy to consumers has increased, and this is reflected in the way they shop. Large businesses like Walmart have had failure with an app that allowed shoppers to scan things as they were taken from the shelves. Customers questioned whether product tagging tags may be misused, compromised, and used to track customers from retailers to their houses. This demonstrates how businesses are failing to raise public knowledge of the privacy precautions they are taking. Organizations should handle this issue as customers are becoming more aware of their privacy owing to greater online exposure.


Need for retailers to build closer connections with customers at the front of the store

In order to compete in a market that is constantly changing, industries are utilizing more automation, improving efficiency, lowering costs, and contributing to data collection. A technical survey, reported in an article by Modern Retail, revealed where this use of technology is largely accepted, with 75% of decision-makers planning to deploy more technology and create smart warehouse systems by 2020. With the introduction of smart shelves, IoT and AI will be able to help with warehouse difficulties and tracking products along the supply chain. One of the technologies that is gaining popularity in the retail and fulfillment industries is smart shelving.


Shifting of customers to the online retail store

E-commerce platforms have attracted a lot of consumer attention. Over USD 860 billion was spent by US consumers in 2020, up 44% from 2019. Besides the established nations, developing nations like Nigeria, which have a booming young population and high internet penetration, have embraced technology advancements in day-to-day living. The International Telecommunication Union (ITU) reports that sub-Saharan Africa is seeing an increase in internet access. 51% of people in South Africa now shop online as a result of the rise in cell phone usage. Particularly in the retail industry during the COVID period, a significant movement toward online retail establishments is currently a big problem for the market for smart shelves.

Covid-19 Impact:

The COVID-19 epidemic has had a mixed influence on the market. The disruptions caused by the pandemic, such as supply chain challenges and fluctuating consumer demand, have highlighted the importance of efficient inventory management. The pandemic has accelerated the adoption of smart shelves as retailers seek to mitigate inventory-related risks. Additionally, the economic impact of the pandemic has resulted in budget constraints for many businesses, including retailers. Some retailers have had to delay or scale back their investments in smart shelves and other technology solutions due to financial uncertainties.

The large enterprises segment is expected to be the largest during the forecast period

The large enterprises segment held the largest share in the market owing to the increasing demand. Smart shelves are increasingly being adopted in large enterprises, such as large supermarkets and warehouses, to keep a track of their inventory, as there is a high volume of inventory in such organizations. It should be noted that manual inventory management is traditional and only suitable for small retailers (i.e., less than 500 square meters). On a larger scale, this process is more expensive, time-consuming, and prone to human error. Retailers can automate the inventory process to save time and money, improves operational effectiveness, and lessen dreaded retail shrink.

The hardware segment is expected to have the highest CAGR during the forecast period

During the projection period, the hardware segment is expected to have the greatest CAGR. This is owing to increasing compatibility of hardware with various devices such as any Radio Frequency (RF) device, language, and mobile network provider. Microcontrollers can be integrated with hardware as well. They also use REST-based design, which is highly scalable and compatible, is High Frequency (HF) and Ultra-High Frequency (UHF) compatible with modern technology, easy to add data to the platform and link with Point-Of-Sale (POS), store, and warehouse Enterprise Resource Planning (ERP) systems.

Region with largest share:

The North America region market is estimated to witness the highest share of the global Smart Shelves market during the forecast period, which is attributed to increasing activities by key market players in countries in this region. For instance, Avery Dennison and SAP hope to address waste issues in the retail sector, by merging their separate analytic product clouds. This should make it easier for supermarkets to monitor and manage product expiration dates. The companies have signed an Original Equipment Manufacturers (OEMs) integrate SAP Analytics Cloud, a component of SAP Business Technology Platform, with connected product cloud from Avery Dennison.

Region with highest CAGR:

The Asia Pacific region is expected to have the highest growth rate over the forecast period, which is attributed to increasing activities by key market players in countries in this region. For instance, during the pandemic, Nielsen, a global measurement and data analytics company, and Trax, a pioneer in computer vision solutions and retail analytics, announced the improvement of Shelf Pulse, a data platform. This platform offers CPG brands crucial shelf insights and analytics to become retailers' trusted advisors and drive ongoing category growth and sales at a time when retailers needed more assistance to navigate COVID-19 reality. Hence, increasing activities by key market players in this region is leading to a rise in demand for smart shelves, which is in turn, expected to drive market revenue growth.

Key players in the market

Some of the key players in Smart Shelves market include Avery Dennison Corporation, AWM Smart Shelf, E Ink Holdings Inc., Happiest Minds Technologies Limited, Honeywell International Inc., Huawei Technologies Co., Ltd., Intel Corporation, Lenovo PCCW Solutions Limited, Minew, NXP Semiconductors NV, PCCW Solutions, Pricer, Samsung Electronics Co. Ltd, SES-Imagotag, Solum and Trax Technology Solutions.

Key Developments:

In September 2022, SES-imagotag, a leader in digital technologies for physical trade and electronic shelf labels, introduced VUSION OS (V:OS), a retail IoT operating system. It is a cloud-native device and sensor management solution that helps retailers digitize their locations to become more automated and connected, allowing them to leverage insights and data in real-time.

In June 2022, SML RFID, the end-to-end RFID specialist, announced an investment in RIELEC, a technology company that designs, manufactures, and implements RFID systems to enhance its supply chain offerings for its retail customers.

In May 2022, Avery Dennison Corporation announced two major investments for expanding its manufacturing capacity and improving factory efficiency in Europe to meet the growing demand for its label and packaging materials, with an investment of EUR 45 million (USD 48.21 million)

Components Covered:
• Hardware
• Software & Solutions
• Professional Services
• Other Components

Organization Sizes Covered:
• Large Enterprises
• Small & Medium-Sized Enterprises (SMEs)
• Other Organization Sizes

Applications Covered:
• Planogram Management
• Inventory Management
• Pricing Management
• Content Management
• Supply Chain Management
• Other Applications

End Users Covered:
• Departmental Stores
• Supermarkets
• Specialty Stores
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Smart Shelves Market, By Component
5.1 Introduction
5.2 Hardware
5.2.1 Cameras
5.2.2 IoT Sensors
5.2.3 Radio Frequency Identification (RDFI) Tags & Readers
5.2.4 Digital Displays
5.2.5 Electronic Shelf Labels
5.3 Software & Solutions
5.4 Professional Services
5.4.1 Integration & Deployment
5.4.2 Consulting
5.4.3 Support & Maintenance
5.5 Other Components

6 Global Smart Shelves Market, By Organization Size
6.1 Introduction
6.2 Large Enterprises
6.3 Small & Medium-Sized Enterprises (SMEs)
6.4 Other Organization Sizes

7 Global Smart Shelves Market, By Application
7.1 Introduction
7.2 Planogram Management
7.3 Inventory Management
7.4 Pricing Management
7.5 Content Management
7.6 Supply Chain Management
7.7 Other Applications

8 Global Smart Shelves Market, By End User
8.1 Introduction
8.2 Departmental Stores
8.3 Supermarkets
8.4 Specialty Stores
8.5 Other End Users

9 Global Smart Shelves Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 Avery Dennison Corporation
11.2 AWM Smart Shelf
11.3 E Ink Holdings Inc.
11.4 Happiest Minds Technologies Limited
11.5 Honeywell International Inc.
11.6 Huawei Technologies Co., Ltd.
11.7 Intel Corporation
11.8 Lenovo PCCW Solutions Limited
11.9 Minew
11.10 NXP Semiconductors NV
11.11 PCCW Solutions
11.12 Pricer
11.13 Samsung Electronics Co. Ltd
11.14 SES-Imagotag
11.15 Solum
11.16 Trax Technology Solutions

List of Tables
1 Global Smart Shelves Market Outlook, By Region (2021-2030) ($MN)
2 Global Smart Shelves Market Outlook, By Component (2021-2030) ($MN)
3 Global Smart Shelves Market Outlook, By Hardware (2021-2030) ($MN)
4 Global Smart Shelves Market Outlook, By Cameras (2021-2030) ($MN)
5 Global Smart Shelves Market Outlook, By IoT Sensors (2021-2030) ($MN)
6 Global Smart Shelves Market Outlook, By Radio Frequency Identification (RDFI) Tags & Readers (2021-2030) ($MN)
7 Global Smart Shelves Market Outlook, By Digital Displays (2021-2030) ($MN)
8 Global Smart Shelves Market Outlook, By Electronic Shelf Labels (2021-2030) ($MN)
9 Global Smart Shelves Market Outlook, By Software & Solutions (2021-2030) ($MN)
10 Global Smart Shelves Market Outlook, By Professional Services (2021-2030) ($MN)
11 Global Smart Shelves Market Outlook, By Integration & Deployment (2021-2030) ($MN)
12 Global Smart Shelves Market Outlook, By Consulting (2021-2030) ($MN)
13 Global Smart Shelves Market Outlook, By Support & Maintenance (2021-2030) ($MN)
14 Global Smart Shelves Market Outlook, By Other Components (2021-2030) ($MN)
15 Global Smart Shelves Market Outlook, By Organization Size (2021-2030) ($MN)
16 Global Smart Shelves Market Outlook, By Large Enterprises (2021-2030) ($MN)
17 Global Smart Shelves Market Outlook, By Small & Medium-Sized Enterprises (SMEs) (2021-2030) ($MN)
18 Global Smart Shelves Market Outlook, By Other Organization Sizes (2021-2030) ($MN)
19 Global Smart Shelves Market Outlook, By Application (2021-2030) ($MN)
20 Global Smart Shelves Market Outlook, By Planogram Management (2021-2030) ($MN)
21 Global Smart Shelves Market Outlook, By Inventory Management (2021-2030) ($MN)
22 Global Smart Shelves Market Outlook, By Pricing Management (2021-2030) ($MN)
23 Global Smart Shelves Market Outlook, By Content Management (2021-2030) ($MN)
24 Global Smart Shelves Market Outlook, By Supply Chain Management (2021-2030) ($MN)
25 Global Smart Shelves Market Outlook, By Other Applications (2021-2030) ($MN)
26 Global Smart Shelves Market Outlook, By End User (2021-2030) ($MN)
27 Global Smart Shelves Market Outlook, By Departmental Stores (2021-2030) ($MN)
28 Global Smart Shelves Market Outlook, By Supermarkets (2021-2030) ($MN)
29 Global Smart Shelves Market Outlook, By Specialty Stores (2021-2030) ($MN)
30 Global Smart Shelves Market Outlook, By Other End Users (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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