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VALLEY COTTAGE, New York, August 3, 2017 /PRNewswire/ --
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
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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 utilizing 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.
Preview Analysis on Global On-Shelf Availability Solution Market Segmentation By Component - Software, Services; By Deployment - On-Premise, Cloud; By End-User - CPG Manufacturers, Retailers, Online Retailers (e-Commerce), Suppliers, Warehouses, Others; By Application - Historical Data Analysis, Response Time Analysis, Vendor Pattern Analysis, Potential Risk (Issue) Analysis, Others: http://www.futuremarketinsights.com/reports/on-shelf-availability-solution-market
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.
More from FMI's Cutting-edge Intelligence:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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