Retail Camera On Shelf Availability Market - Forecast(2024 - 2030)

Retail Camera On Shelf Availability Market Overview

The Retail Camera On Shelf Availability Market size is estimated to reach $235.51 million by 2027, growing at a CAGR of 7.49% during the forecast period 2022-2027. The growth is attributed to the factors such as growing number of retailers and CPG manufacturers across the globe coupled with rising adoption of cameras in supermarkets. Cameras on Shelf availability aid retailers in shelf monitoring and radio frequency identification applications across the store area. It acts as a supreme inventory managements system across various store types which is aimed to upgrade restock frequency and meet the growing supply demand in retail industry. In retail stores and marketplaces, AI-driven shelf cameras are becoming popular for inventory management and out-of-stock restocking, resulting in increased in-store sales, increased staff productivity, and improved customer experience which tend to be major driving factor for the Retail Camera On Shelf Availability Market during the forecast period.

Report Coverage

The “Retail Camera On Shelf Availability Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis”, by IndustryARC, covers an in-depth analysis of the following segments in the Retail Camera On Shelf Availability Market.

By Technology: Fixed Camera, Mobile Applications and Others.
By Application: Equipment Condition Monitoring, Product Identification, Detection of Misplaced Products, Planogram Compliance Verification, Inventory Management and Others.
By Store Type: Departmental Stores, Super Markets, Hyper Markets, Warehouse Stores, Distribution Centers, Convenience Stores and Others.
By Geography: North America (U.S, Canada, Mexico), Europe (U.K, Germany, France, Italy, Spain, Netherlands, Russia Others), APAC (China, Japan India, South Korea, Australia, Singapore, Others), South America (Brazil, Argentina, Chile, Colombia, Others), RoW (Middle East, Africa)

Key Takeaways

• Rising on-shelf availability issues in the retail sector is analyzed to significantly drive the growth of Retail Camera On Shelf Availability Market during the forecast period 2022-2027.
• Based on technology, fixed cameras segment dominated the global Retail Camera On Shelf Availability Market in 2021, attributed to increasing trend across departmental stores to improve the shopping experience by deployment of fixed cameras for on-shelf customer availability applications.
• Retail Camera On Shelf Availability Market in Hyper Market store areas is expected to grow at the highest rate during the forecast period 2022-2027, owing to the most common problem in hyper market to identifying the empty shelves, on-shelf availability, and future sales which promotes the demand of retail cameras in this store area.
• Asia-Pacific region is analyzed to grow at the highest rate in the Retail Camera On Shelf Availability Market across the globe during the forecast period 2022-2027, owing to the growing adoption of online retail channels and high e-commerce penetration in this region.

 Global Retail Camera On Shelf Availability Market Value Share, by Region, 2021 (%)

Retail Camera On Shelf Availability Market Segment Analysis- By Technology

Retail Camera On Shelf Availability Market with Fixed Cameras technology held the largest share of 58.45% in 2021, and is analyzed to witness a significant growth during the forecast period 2022-2027. With the advancements in technology, companies are expanding their partnership and deploying shelf cameras in more stores. For instance, In November 2020, the Canadian subsidiary of discount giant Walmart is expanding its cooperation with retail automation technology provider Focal Systems Inc. to deploy shelf cameras throughout stores to detect out-of-stocks, low inventory, and planogram compliance, which is set to boost the growth of Fixed Cameras technology in the Retail Camera On Shelf Availability Market overtime. Moreover, departmental stores are striving for more ways to improve the shopping experience for the customers by using technologies to improve on-shelf customer availability so that customers can find what they are looking for, each time they choose to shop in-store with the regular stores which tend to contribute significantly for the growth of fixed cameras technology in the Retail Camera On Shelf Availability Market during the forecast period.

Retail Camera On Shelf Availability Market Segment Analysis- By Store Type

Retail Camera On Shelf Availability Market in Hyper Markets is expected to grow at the fastest rate with a CAGR of 8.41% between 2022 and 2027. Rising problems in hyper markets of identifying the empty shelves, on-shelf availability, and future sales tend to be major driving factor for the growing demand of Retail Camera On Shelf Availability in Hyper market during the forecast period. In hypermarkets, shelf inspection cameras help to detect the fill level of shelves, and with the help of this technology, it becomes easy to fill up the shelves on time before the goods have been completely sold out and sales areas are not used. The detected fill level is additionally available to create statistics and reports about the circulation of goods. Moreover, hypermarkets are now using on-shelf availability with synthetic computer vision as it uses mobile applications with a digital recreation of every single stock keeping unit on a hypermarket store’s shelves which is analyzed to contribute significantly in growth of Retail Camera On Shelf Availability Market in Hyper Markets during the forecast period.

Retail Camera On Shelf Availability Market Segment Analysis- By Geography

Retail Camera On Shelf Availability Market in Asia Pacific region is analyzed to grow at the fastest rate, with a CAGR of 8.07% during the forecast period 2022-2027, majorly driven by the growing adoption of online retail channels and high e-commerce penetration in this region. After the initial stages of the COVID-19 epidemic, demand in Asia-Pacific grew as buyers became more interested in making purchases through online channels. As a result, a growing number of small-scale manufacturers are turning to online retail platforms to boost their sales. For instance, in December 2020, Trax collaborated with local robotics company Ecovacs to launch all new Retail Watch retail monitoring and intelligence product in China. Furthermore, the emergence of foreign retail brands in India is likely to benefit the market's growth during the forecast period.

Retail Camera On Shelf Availability Market Drivers

Increasing number of retailers and CPG manufacturers is enhancing the camera on-shelf availability usage, further driving the growth of Retail Camera On Shelf Availability Market:

Increasing number of retailers and CPG manufacturers across the globe is analyzed to bring significant growth in the usage of camera on-shelf availability which tends to be major driving factor for the Retail Camera On Shelf Availability Market growth during the forecast period. 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. For instance, in October 2021, ReTech Labs, a global SaaS provider of real-time capture and recognition technology, has been 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, contributing significantly towards the growth of Retail Camera On Shelf Availability Market.

Rising adoption of cameras in supermarkets is propelling the Retail Camera On Shelf Availability industry expansion:

Supermarket employees across the world spend countless hours making sure that shelves are stocked with enough cereal, toilet paper, and toothpaste for customers. At best, it can take workers half their shift to notice that the inventory is low. However, they also fail to notice out-of-stock products for days, resulting in thousands of dollars in lost sales. To overcome this, leading supermarkets companies are installing cameras to capture and analyze in real-time what is happening on shelves and ensure an optimized OSA through live alerts and constant monitoring of SKU. This tend to be bring significant growth in the Retail Camera On Shelf Availability Market across the globe during the forecast period. For instance, Trax company installed customized camera modules on supermarket store shelves to keep tabs on products and also augmenting these shelf cameras with ceiling-mounted cameras for monitoring fresh sections of stores. These developments are analyzed to propel the growth of Retail Camera On Shelf Availability Market during the forecast period.

Retail Camera On Shelf Availability Market Challenges

Lack of awareness about technologies and limited developments by manufacturers is hindering the market growth

Development of On-shelf availability is a complicated process which is affected by many interdependent factors including suppliers, retailers, warehouses, and stores. Ensuring good on-shelf availability is an industry-wide issue affecting all retailers and manufacturers. On-shelf availability challenges are not new to the retail industry as the retailers are failing in better analytics in solving the problem owing to the lack of awareness about technologies and lack of collaboration. On-shelf availability is a multi-dimensional issue whose root causes are difficult to identify and even harder to solve. Moreover, the challenge of improving on-shelf availability of stock in the departmental stores and supermarkets while also minimizing end-to-end costs, often involves a complicated balance of trade-offs, which is one of the major factors hampering the growth of the Retail Camera On Shelf Availability Market.

Retail Camera On Shelf Availability Industry Outlook

Product launches, acquisitions and R&D activities are key strategies adopted by players in the Retail Camera On Shelf Availability Market Report. The top 10 companies in the Retail Camera On Shelf Availability Market are:

1. Atlas Technology Group
2. Retail Velocity
3. Verix, Inc.
4. SAP SE
5. Retail Solutions, Inc.
6. IBM Corporation
7. Mindtree Ltd.
8. Shelfie Pyt Ltd.
9. Enterra Solutions LLC
10. Bemyeye Holdings Ltd.

Recent Developments

• In March 2021, Roamler, a European technology company specialising in crowd-supported solutions for field marketing entered into a partnership with Trax, a leading global provider of computer vision solutions and analytics for retail to provide consumer packaged goods (CPG) companies in Europe with a store auditing service that combines the power of computer vision and the gig economy.
• In October 2020, Retail Solutions, Inc. (RSi), the premier provider of supply chain solutions for CPG manufacturers and retailers was acquired by IRI, a global leader in innovative solutions and services for consumer, CPG, retail, and media organisations. The acquisition aimed to add RSi's solutions to the industry-leading IRI Liquid Data technology platform to provide clients with the industry's most comprehensive supply chain solution as well as the industry's largest repository of de-identified and anonymous consumer data assets, resulting in long-term increased value and impact.
• In January 2020, Retail Solutions, Inc. (RSi) announced the launch of OSA End-to-End, a proven On-Shelf Availability (OSA) solution that helps CPG producers achieve a 10-fold ROI while boosting sales. Furthermore, OSA End-to-End enables CPGs and retailers to increase in-store productivity while lowering costs.

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