On-Shelf Availability Solutions Market by Component (Software, Service), Application (Historical Data Analysis, Response Time Analysis, Vendor Pattern Analysis, Potential Risk Analysis), Deployment (On-premises and SaaS)
Sales of on-shelf availability solutions are anticipated to reach US$ 3.7 billion. The market is anticipated to grow at an 8.4% CAGR between 2022 and 2028 due to the increasing implementation of radio frequency identification (RFID) technology and Internet of Things (IoT) based sensors for supply chain management. In 2028, the market is expected to generate US$6.02 billion. Collaborations between retailers, suppliers, and technology companies will flourish, which will continue to support market product advancements and accelerate market expansion.
According to a Future Market Insights (FMI) survey, 10% of the world’s retail automation market is made up of sales of on-shelf availability solutions.
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Competition Landscape
Leading players operating in the global on-shelf availability solutions market are focusing on research and development to diversify their product portfolios. In addition to this, players are investing in mergers, acquisitions, collaborations and partnerships to gain a competitive edge in the market. For instance:
Key Companies Profiled
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On-shelf Availability Solutions Market Outlook 2013-2021 in Comparison to 2022-2028 Growth Forecast
Demand for on-shelf availability solutions is expected to increase at 8.4% CAGR over the forecast period, in comparison to 8.9% CAGR registered between 2013 and 2021.
On-shelf availability solutions effectively reduce out-of-stock situations by identifying issues and resolving them to improve inventory management and the overall profit margins. These benefits are propelling their adoption in the retail sector, thereby boosting the market.
Increasing technological advancements in the retail sector, growing collaborations between retailers and supplies, and increasing focus on business asset management and automation are identified as chief factors fueling the growth of the market.
How Will the Retail Sector’s Technological Developments Affect the Market for On-Shelf Availability Solutions?
The retail industry is undergoing a digital change that is changing how customers purchase both in-person and online. As a result of the restrictions put in place in 2020 to stop the spread of COVID-19 and the requirement that people remain indoors during a prolonged period of lockdown, e-commerce sales have increased dramatically. Manufacturers have been prompted by this to improve their online and in-store visibility.
For businesses to be competitive, they must be able to anticipate and capitalise on consumer trends. This element is enhancing the use of technology in the retail industry, which is projected to increase demand for on-shelf availability products in the coming years.
On-shelf Availability Solutions Market by Category
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Application:
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About Future Market Insights, Inc. Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Aw
Jan 30, 2023
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