ICT & Electronics Smart Shelves Market | Page 2

The global smart shelves market is segmented into type of retail outlet such as
departmental stores, supermarket, discount stores, specialty stores and others
(dollar stores, malls, pharmacy store). Among these segments, supermarket
segment is expected to occupy the top position in the market. Supermarkets are
adopting smart shelves as it aids them in optimization and increases their sale.
Further, factors such as evolving shopper expectations and increasing IT
spending by retailers is anticipated to foster the growth of smart shelves market
during the forecast period.
Global smart shelves market is expected to flourish at a significant CAGR over the
forecast period. Moreover, the global smart shelves market is projected to
generate substantial revenue by the end of 2024. Factors such as rising adoption
of smart shopping by consumers, better operation management are expected to
expand the market of smart shelves.
North America accounted for the largest market share of overall smart shelves
market in 2016. Further, North America is expected to continue its dominance
over the forecast period i.e. 2017-2024. High inclination of consumers towards
offline store shopping is expected to provide significant boost to the smart
shelves market in the region. Asia Pacific is projected to witness noteworthy
growth over the forecast period. This can be attributed to the rising disposable
income coupled with increasing population in the region.
Enhanced Shopping Experience
Factors such as increasing demand from consumer for personalized and efficient
shopping experience is expected to trigger the growth of the smart shelves
market. Further, smart shelves also assist the retailers to understand the
consumer spending patterns. These factors and benefits of smart shelves over
other traditional shelves are anticipated to intensify the growth of the smart
shelves market.
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Increasing Adoption by Retailers
Rising adoption of smart shelves by the retailers is expected to be one of the key
growth drivers for smart shelves market during the forecast period. Advantages
of smart shelves such a high revenue generation, low stock alert, data on
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