The on-shelf availability solution market in the United States is projected to grow at a CAGR of 7.0% through 2034. This growth is driven by the increasing importance of customer experience as a key differentiator in the competitive retail market. These solutions help reduce out-of-stock situations, minimize wait times, and ensure products are readily available, enhancing the customer experience.
NEWARK, DE / ACCESSWIRE / July 24, 2024 / The global on-shelf availability solution market will reach a valuation of USD 4.8 billion in 2024, owing to increasing focus on customer personalization. The trend is set to create new opportunities for the market, leading to a projected CAGR of 9.1% between 2024 and 2034, and reaching a total valuation of USD 11.6 billion by 2034.
Predictive analytics and demand forecasting capabilities are becoming integral components of on shelf availability solutions, enabling retailers to anticipate customer demand, optimize stocking levels, and prevent stockouts before they occur. Predictive analytics, by processing the historical data, market trends, and external factors, empower retailers to make proactive inventory management decisions and stay ahead of the competition.
Mobile commerce and scan and go technologies enable shoppers to bypass traditional checkout lines and make purchases directly from the sales floor. The on shelf availability solutions that integrate with mobile apps and scan and go platforms can provide real time inventory visibility. The trend enables retailers to manage on shelf availability more effectively and ensure seamless shopping experiences for mobile customers.
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Retailers are increasingly investing in analytics and business intelligence solutions to gain deeper insights into consumer behavior, market trends, and operational performance. The solutions that integrate with retail analytics platforms enable retailers to derive actionable insights from shelf availability data and optimize their merchandising strategies accordingly.
Autonomous retail technologies, such as cashier less stores and robotic inventory management systems, are reshaping the retail landscape. The solutions that integrate with autonomous retail platforms enable retailers to automate inventory tracking and replenishment processes, reducing labor costs and improving operational efficiency. Micro fulfilment centers are emerging as a cost effective solution for fulfilling online orders quickly and efficiently.
Key Takeaways from the Market Study
Global on-shelf availability solution market was valued at USD 4 billion in 2023.
From 2019 to 2023, the market demand expanded at a CAGR of 8.4%.
The market in China to expand at a CAGR of 11.2% through 2034.
By component, the software segment to account for a share of 75.1% in 2024.
The market in the United States will expand at a CAGR of 7.0% through 2034.
In terms of end user, the CPG manufacturer segment to account for a share of 29.6% in 2024.
"The solutions that support operations by providing real time inventory visibility and optimizing order fulfilment processes can help retailers meet the growing demand for e-commerce and omnichannel fulfilment services," Says Sudip Saha Managing Director and Co-Founder at Future Market Insights.
Competitive Landscape
Prominent players in the on-shelf availability solution market are International Business Machines Corporation, Panasonic Corporation, SAP SE, Impinj, Inc., Mindtree Ltd., Retail Solutions Inc., Retail Velocity, Market6, Inc., Lokad, Verix, Frontier Field Marketing, NEOGRID, eBest IOT, and Enterra Solutions LLC, among others.
Company Portfolio
Impinj Inc. specializes in RFID technology solutions for retail and offers the on shelf availability solutions that enable retailers to track inventory levels, monitor product movements, and prevent stockouts. Their solutions leverage RFID tags and readers to provide real time visibility into item level data, empowering retailers to optimize merchandising strategies and drive sales.
Mindtree Ltd., headquartered in India, provides comprehensive on-shelf availability solutions for retail businesses. Their portfolio includes advanced analytics, machine learning algorithms, and IoT enabled technologies to optimize inventory management, reduce out of stock situations, and enhance shelf visibility.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global on-shelf availability solution market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the on-shelf availability solution market, the market is segmented on the basis of component (software, service), application (historical data analysis, response time analysis, vendor pattern analysis, potential risk analysis), deployment type (on-premises, SaaS), and end user (CPG manufacturers, retailers, online retailers, suppliers, warehouses), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa).
About the Technology Division at Future Market Insights
The technology team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Authored By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting' at the ET Inspiring Leaders Awards 2022.
Have a Look at the Related Reports of the Technology Domain:
Sales of on-shelf availability solution in Japan are estimated to rise at a 7.9% CAGR through 2034. The overall demand for on-shelf availability solution in Japan is likely to surge considerably, crossing a valuation of USD 313.1 million in 2024.
The utilization of on-shelf availability solution in Korea is estimated to display a promising CAGR of 8.3% through 2034. The sales of on-shelf availability solution in Korea are expected to jump from USD 179.8 million in 2024 to USD 397.6 million by 2034.
The on-shelf availability solution industry in Western Europe is projected to experience a CAGR of 7.8%, reaching a valuation of USD 1,020.9 million in 2024 and is expected to further increase to USD 2,155.6 million by 2034.
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