Smart shelves are automated inventory tracking system used in retail stores. RFID technology is the mechanism behind its working – RFID tags, RFID readers and antennas. They use weight sensors to calculate the amount of inventory placed upon the shelf. Smart shelves are usually available in multiple sizes.
Using smart shelf helps the retailers in various ways. It provides real-time stock information, helps in inventory management, effective product information and enhances customer services. Moreover, it helps in reducing manual labor and saving costs. Customers can eventually connect their smartphones to the smart shelves to generate a record of their purchase history via an application, that has to be installed on the smartphone. Moreover, a purchase list can be jotted down on the application and the smart shelves will help them to track the product in the market.
RFID (Radio Frequency Identification) technology, used in smart shelves, is a tracking system that helps to locate, identify, track and communicate customers with the item placed on it, uses radio frequency to function. Growth in demand for AI-powered dynamic pricing solutions, optimizing functions of retail stores using AI-driven shelf monitoring software and cashier-less stores is creating a boost for the global market of smart shelves. Retail is the future of shopping domain and including AI will surely help in meteoric rise of the market. With the growing awareness among consumers, this market will surely transform into a multi-billion dollar marketplace.
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Top 6 smart shelves using weight sensors for tracking
Verified Market Research experts predicted that this market will continue to grow from 2022 to 2029. Look at Global Smart Shelves’ Market Report to examine the elliptically growing market. In the sample report, all details associated with leading players are listed – business strategies and future projects.
This will help in getting quick peek into the future of smart shelves’ market. With higher capital influx, many new entrants are planning to join bandwagon. Not only this, many big league companies are acquiring small brands to expand their market share at a rapid rate.
Pricer is a Sweden company that was established in 1991. It leads globally to provide in-store digital shelf-edge solutions, to enhance store performance for the retailer and shopping experience of the customer. It has its headquarters in Sweden. This company is the only firm that provides electronic shelf label with a reliable and scalable optical wireless communication system.
Trax Retail is a Sinaporean country, founded in 2010. It is a technology company with headquarters in Singapore. It is one of the youngest members on this list. CVDM Solutions SAS is its well-known subsidiaries. They offer solutions for in-store execution for store operations and category management. They work to enhance shoppers’ experience and monitor and analyze insights, increase sales and simplify the retail store operations.
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Avery Dennison is a packaging and labelling company, based in United States. This multinational company was founded in 1935 by R. Stanton Avery in Los Angeles. They specialize in manufacturing and distribution of pressure-sensitive adhesive materials, apparel branding labels and tags, RFID inlays, and specialty medical products. Paxar Corporation, Fasson Roll North America are its well-known subsidiaries.
Samsung Electronics is an electronics company. It is a South Korean firm founded in 1969 by Lee Byung chul. It is one of the biggest electronic conglomerates operating across globe. Samsung group is the parent organization of the firm and Samsung Electronics service, Harman International are its esteemed subsidiaries. They develop technology to create a better global society and is recognized for its technological advancements.
E Ink Corporation
E Ink Corporation is a Taiwanese company, also known as E ink. It is a subsidiary of E Ink Holdings (EIH). They manufacture and distribute electrophoretic displays. It was founded in 1992 and has its headquarters in Hsinchu, Taiwan. YFY is its parent organization and E Ink Corporation, HYDIS Technologies CO.,LTD are a few well-known subsidiaries of the firm. They are globally known for developing color Epaper for sustainable digital reading.
Honeywell is an American public company founded in 1906 by Mark C. Honeywell. It is a multinational conglomerate company that primarily operates in the fields of aerospace, building technologies, performance materials and safety productivity solutions.
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