Rising on-shelf Availability Issues in the Retail Sector Across the Globe Coupled With Increasing Adoption of Cameras in Supermarkets Anticipated to Boost the Retail Camera on Shelf Availability Market During the Forecast Period 2022-2027

Retail Camera On Shelf Availability Market is forecasted to reach $235.51 Million by 2027, growing at CAGR 7.49% during the forecast period 2022-2027. On-shelf availability indicates the number of products available for purchase at a given place and time. In the retail industry, 'On Shelf Availability' shows how to evaluate and analyse the impact of out-of-stocks. Cameras on Shelf availability aids retailers in detecting and displaying the quantity of stock on shelves, such as in supermarkets.  Increasing technical advancements in the retail sector, growing partnerships between retailers and suppliers, and increasing focus on business asset management and automation further fuel the Retail Camera On Shelf Availability Market during the forecast period. For instance, Salty Snacks and Pet Food has incurred a loss of $444m and $764m respectively. Retailers and manufacturers have long known that when it comes to being able to find items on the shelf is traditionally the most challenging time of the year across the entire store. This significant losses among the leading retailers are analyzed to propel the demand of Retail Cameras On Shelf Availability during the forecast period, further enhancing its market growth.

Moreover, increasing number of retailers and CPG manufacturers across the is fueling the camera on-shelf availability usage which tend to promote the growth of Retail Camera On Shelf Availability Market during the forecast period. Many small and mid-sized consumer-packages goods (CPG) manufacturers and retailers’ business operations are dependent on initial sales and the foundation of their entire business growth and global distribution aspirations. The demand for on-shelf availability solutions for gathering insights from product innovation research, category research, and market simulation is being driven by CPG producers. IoT technologies are being used by CPG firms to streamline the manufacturing process as well as give better customer experiences through goods or collaborations with other brands that offer IoT products. For instance, in October 2021, ReTech Labs, a global SaaS provider of real-time capture and recognition technology was acquired by Symphony RetailAI, a specialist in powered supply chain management solutions for FMCG retailers to efficiently manage on-shelf availability, alleviate stock-related concerns, and maintain pricing and promotion compliance. These developments tend to contribute significantly in the growth of Retail Camera On Shelf Availability Market during the forecast period.

Europe Retail Camera On Shelf Availability Market held significant market share of 29.89% in 2020. The market for camera on-shelf availability solutions is expanding in this region owing to increased collaboration between suppliers and retailers. For instance, SES-imagotag established strategic cooperation with Hornbach, a renowned German DIY and home improvement chain, in 2021. The major goal of this partnership will be to help retailers adopt Captana, SES-cutting-edge imagotag’s camera-based shelf monitoring, product recognition, and out-of-shelf detection solution. Hornbach will benefit from Captana’s computer vision, artificial intelligence, and machine learning features, which will provide best-in-class optical product recognition. Moreover, growing awareness of modern technologies such as AI and big data analytics, as well as the widespread use of multichannel or omnichannel retailing strategies to give customers a better end-user experience in this region are contributing significantly towards the market expansion. For instance, in 2021, SES-imagotag, the global leader in smart labels and IoT solutions for physical retail announced its cooperation with Monoprix, the French pioneer in downtown retail and a long-time partner of the Group to improve customer happiness through better camera on-shelf product availability and optimized inventory management. These developments tend to boost the growth of Retail Camera On Shelf Availability industry in European Market.

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Retail Camera On Shelf Availability Market Growth Drivers:

Increase in the number of retailers and CPG manufacturers is enhancing the camera on-shelf availability usage, further driving its market growth

According to a new analysis from the Consumer Brands Association in 2020, sales of consumer-packaged products from toilet paper to canned soup have increased 9.4% to $1.53 trillion in 2020. Consumer packaged goods (CPG) is one of the fastest-growing businesses using online marketing and advanced technologies. The CPG producers are seeking the "Perfect Shelf," which gives the exact product a consumer wants in the appropriate shop, in the right quantities, at the right time, and at the right price, in partnership with their trade partners. Moreover, the market's growth in the CPG and Retail industry is aided by the continued expansion of the e-commerce industry, as well as the increasing implementation of retail automation software in warehouses and other storage facilities which tend to be a major driving parameter for the growth of Retail Camera On Shelf Availability Market during the forecast period.

The Major Players in this Market Include