The global on-shelf availability solutions market was valued at US$ 2,447.6 Mn in 2018; it is estimated to grow at a CAGR of 10.7% to reach US$ 6,019.7 Mn by 2027.
With the increasing competition in the retail industry, ensuring high on-shelf availability has become vital for retailers. Out-of-stock is a significant issue in retailing, which results in lost sales as well as decreasing customer loyalty. The root causes resulting in out-of-stock comprises inventory inaccuracy, unforeseen high demand, restock frequency, and inefficient shelf monitoring. Generally, identification and measurement of the out-of-stock situation are performed through limited visual shelf audits. However, with the advent of advanced technologies, automated methods such as on-shelf availability solutions are noticing huge adoption in the retail industry.
The North American region led the on-shelf availability solutions market in 2018 and is projected to lose its dominance to Europe over the forecast period 2019-2027. The North America on-shelf availability solutions market is propelled by the vast presence of retail stores and significant development in the retail sector. This region is a home for most of the world’s largest retailers. Mexico and Canada, each of them, have their own largest retail chains, and both the countries have retail companies that conduct business operations throughout the world. The retail industry is responsible for nearly two-thirds of the US GDP. Some of the largest US retail chains include Walmart, CVS Health, Amazon, Walgreens Boots Alliance, Costco, The Kroger Co., Albertsons Companies, and Target, among others.
On-Shelf Availability Solutions Market - Geographic Breakdown, 2018
The report segments the global on-shelf availability solutions market as follows:
Global On-Shelf Availability Solutions Market - By Deployment
Global On-Shelf Availability Solutions Market - By Component
Global On-Shelf Availability Solutions Market - By End User
Global On-Shelf Availability Solutions Market - By Geography
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