Posted 3/14/2024, 8:00:00 PM
Smart Shelves Market Set for Rapid Growth to 2033, Driven by Retail Tech Trends
- Smart Shelves market projected to grow from $3.5B in 2023 to $30B in 2033, exhibiting a 24% CAGR
- Europe emerged as largest market, accounting for 57% of total; APAC to see highest growth rate
- Software and solutions segment dominated with 41% market share
- Inventory management was largest application segment with 46% share in 2023
- Growth drivers include rising use of IoT and RFID in retail, retailers building customer rapport; challenges include security concerns and customer shift to online stores