The global on-shelf availability solution market is projected to register an impressive expansion at 9.5% CAGR during the forecast period 2017 to 2027, according to a report by Future Market Insights (FMI). Although the market is expected to witness a robust growth, the revenue generated will remain low owing to the presence of less number of companies offering these solutions. FMI’s report estimates the global on-shelf availability solution market to increase from US$ 2,255.7 Mn in 2017 to reach US$ 5,607.7 Mn by 2027-end.
Key Takeaways from FMI’s Report on the Global On-shelf Availability Solution Market
- CPG manufacturers will remain the largest end-users of on-shelf availability solution in the market, followed by retailers. However, sales of on-shelf availability solutions to suppliers are estimated to exhibit the highest CAGR through 2027.
- Although on-premise deployment of on-shelf availability solution remains preferred in the market, the SaaS deployment will register a comparatively higher CAGR through 2027.
- Historical data analysis will continue to be the most lucrative application of on-shelf availability solution, with sales estimated to reach revenues worth US$ 1,867.7 Mn by 2027-end. In addition, sales of on-shelf availability solution in application of response time analysis are estimated to register the fastest expansion at a double-digit CAGR through 2027.
- Software component of on-shelf availability solution is expected to remain sought-after in the market. The software component is anticipated to create an incremental opportunity of US$ 2,546.1 Mn between 2017 and 2027.
- North America will remain the largest market for on-shelf availability solution, followed by Western Europe. Demand for on-shelf availability solution in Middle East & Africa (MEA) will remain sluggish during the forecast period.
Surging Deployment of IoT in Warehouse & Store Management to Propel Growth of the Market in Western Europe
In Western Europe, the on-shelf availability solution market is primarily driven by surging deployment of IoT in store management, and warehouse management. In addition, rapidly growing deployment of IoT by retailers, manufacturers and suppliers in this region is expected to offer inter networking of physical devices, sensors, and codes of products, enabling these objects to gather and exchange data. The demand for solutions which can prevent robbery in retail stores and warehouses is witnessing a rise in Western European countries including Germany and France. On-shelf availability solutions help in detecting any displacements of goods, resulting into reduction of thefts by shoplifters or staff. These factors are expected to drive growth of the market in Western Europe.
In Western Europe, various alternatives such as solutions for supply chain management, and retail management software, help store managers in identifying shelf-availability of products in warehouses and retail stores. This is expected to hinder growth of the market in this region.
Increasing Requirement for Smart Retailing Solution to Drive the Market Growth in North America
In North America, retailers are focusing on implementation of shelf-availability solutions for improvising the ability to offer customer-desired products, avoiding challenges associated with “out-of-stock” situation. The retailers are utilising on-shelf availability solutions to keep track of product details, inventories, and availability of right products. In addition, requirement for smart retailing solution is witnessing a surge on the back of increasing demand for provision of smarter consumer experience, while shopping at retail stores. The aforementioned factors are expected to fuel growth of the market in North America.
Performing analytical operations on the dynamic data, which has been captured by software, is a major challenge faced by on-shelf availability solution market in North America. The available data undergoes constant changes, with products being purchased, ordered, replaced, and delivered. The coordination between retailers and suppliers fails to generate precise data about the required as well as available products, which further incurs challenges in analysis of the dynamic data. These factors will impede growth of the market in North America.
Key market players identified in FMI’s Report Include IBM Corporation, Panasonic Corporation, SAP SE, Impinj, Inc., Mindtree Ltd., Retail Solutions, Inc., Retail Velocity, Market6, Inc., Lokad, Verix, Frontier Field Marketing, NEOGRID, eBest IOT, Enterra Solutions LLC.
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