On-Shelf Availability Solution Market Report

The digital revolution in the retail sector is changing the way people purchase in physical locations as well as their online purchasing experience. As a result, growth in E-commerce sales has made the availability of products more important. This has motivated manufacturers to optimize their in-store and online presence. Understanding how to identify and capitalize on consumer trends is critical for companies to remain competitive. This factor is improving technological intervention in the retail business, which is expected to promote sales of on-shelf availability solutions throughout the forecast period. To improve consumer experiences both online and in-store, retailers are investing in technologies such as machine learning, virtual and augmented reality (VR/AR), and artificial intelligence (AI).

For example, in 2023, Axis Communications contributed to the retail success through a collaboration with UK retail company Nisa and software developer Shelfie, resulting in a powerful business intelligence solution to transform replenishment. Shelfie partnered with Axis Communications to create a retail system that integrates network cameras with advanced AI and analytics capabilities with intelligent cloud-based software. Axis cameras capture video pictures of store shelves, which are then sent to the cloud, where a powerful machine learning and image processing algorithm examines data on product placement and availability. When a replenishment demand is identified, a real-time alert is sent to a dashboard or mobile app notifying workers of the need to re-order specified items. This approach offered unparalleled potential benefits for Nisa by assisting in unlocking camera-driven insights to revolutionize retail.

Growing instances of supply chain disruption are expected to drive the market for on-shelf availability solutions for inventory management applications, as such solutions provide end users with automatic inventory monitoring via technologies such as sensors, cameras, and radio-frequency identification (RFID). This allows organizations to correctly account for existing inventory and estimate when reorders are needed to avoid out-of-stock problems. Furthermore, the precise data given by such systems provides end-user companies more time to switch suppliers in the event of supply chain interruptions, minimizing the likelihood of out-of-stock situations. Furthermore, on-shelf availability solutions allow suppliers and retailers to more efficiently manage and account for safety stock. Safety stock management is a proactive approach to inventory management in which a small amount of inventory is kept on hand at all times. This inventory serves as a buffer to compensate for a rise in demand or supply shortfalls. On-shelf availability solutions enable real-time visibility, which greatly reduces the time required for decision-making processes.

• AI-driven inventory tracking for real-time stock monitoring.
• Integration of IoT devices for seamless inventory management.
• Predictive analytics for proactive stock replenishment and demand forecasting.
• RFID technology adoption for efficient shelf replenishment.

Major market players are concentrating their efforts on research and development in order to provide products that meet the expectations of customers. In order to achieve a competitive advantage in the global market, they also pursue other market strategies such as technological advancements, mergers, and acquisitions.   In July 2021, BeMyEye, a retail technology provider, introduced real-time image recognition for store audits which is the latest edition of their arsenal of CPG tools. This announcement was an update to the ever-popular Compass app, which is currently utilized by over 100 consumer brands globally. It is intended to increase the speed, efficiency, and actionability of field teams. This new innovation means to cut review times by up to 70% and provide precise store insights to agents in under 20 seconds.

Later, the tenth generation of Retail Velocity's VELOCITY platform and the introduction of VELOCITY Essential were announced by Retail Velocity, an industry leader in consumer demand and supply data management, reporting, and analytics in April 2022. VELOCITY Pro 10 makes it easier for consumer brands to quickly access and use unified, accurate data for strategic decision-making. Furthermore, Symphony RetailAI, an AI-powered supply chain management solutions specialist for FMCG retailers, announced the acquisition of ReTech Labs, a global leader in providing SaaS of real-time capture and recognition technology in October 2021. With the help of ReTech’s solutions, management of on-shelf availability and elimination of stock-related issues is possible. It also enables assurance of compliance in the execution of pricing and promotions.

One of the major obstacles in the on-shelf availability solution market is the lack of planning and management. This can be attributed to the poor communication between the manufacturers and retailers. Moreover, since retailers estimate the demand for the products and place orders in advance, inaccuracy in the estimation may lead to inadequate supply which is anticipated to hamper the market growth.  Additionally, out-of-stock challenges are frequently caused by in-store execution and replenishment failures where a product is stocked. More than half of these situations are the result of defects in retail practices rather than issues with upstream operations at a distribution center or headquarters. This necessitates close collaboration between manufacturers and retailers in both their interests. Furthermore, a reduction in consumer footfall into retail stores and an overall drop in sales through retail outlets in some regions is expected to be a significant factor threatening development potential throughout the projection period. Besides this, issues such as unauthorized data access, working in a dynamic environment, and high cost of installation are impeding the growth of the global on-shelf availability solutions market.

Panasonic Corporation, Mindtree Ltd., Retail Velocity, International Business Machines Corporation, SAP SE, Impinj, Inc., Retail Solutions Inc., Market6, Inc., Lokad, Verix, NEOGRID, eBest IOT, Enterra Solutions LLC, Frontier Field Marketing are some of the prominent market players operating in the global on-shelf availability solution market.

North America is anticipated to experience significant growth in the on-shelf availability solution market over the forecast period. This growth can be attributed to the vast retail sector and the presence of international and regional brands in countries like the USA. In addition to this, the increasing demand for supply chain management and solutions to prevent overstocking is also anticipated to encourage market expansion. Moreover, the presence of prominent market players including Procter & Gamble (P&G), Loreal, 3M, and Danone are anticipated to propel the market development over the forecast period. These companies provide consumer goods within the North American region and overseas which necessitates the demand for these solutions thus driving the market expansion. Furthermore, the Asia-Pacific region is anticipated to be the rapidly expanding market for on-shelf availability solutions over the forecast period owing to the increasing adoption of new digital infrastructure such as 5G networks in rising economies such as China and India. Furthermore, significant expansion in Al Research and Development in China is a key driver leading to market growth.

The report provides a detailed overview of the on-shelf availability solution market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the on-shelf availability solution market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the on-shelf availability solution market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the on-shelf availability solution market. Some key countries and regions included in the on-shelf availability solution market report are as follows:

• On-shelf availability solution market detailed segments and segment-wise market breakdown
• On-shelf availability solution market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in the on-shelf availability solution industry)
• Current, historical, and forthcoming 10 years market valuation in terms of on-shelf availability solution market size (US$ Mn), share (%), Y-o-Y growth rate, CAGR (%) analysis
• On-shelf availability solution market demand analysis
• On-shelf availability solution market regional insights with the region-wise market breakdown
• Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
• Latest developments and innovations in the on-shelf availability solution market
• Regulatory landscape by key regions and key countries
• On-shelf availability solution market sales and distribution strategies
• A comprehensive overview of the parent market
• A detailed viewpoint on on-shelf availability solution market forecast by countries
• Mergers and acquisitions in the on-shelf availability solution market
• Essential information to enhance market position
• Robust research methodology