The utilization of on-shelf availability solution in Korea is estimated to display a promising CAGR of 8.3% through 2034. The sales of on-shelf availability solution in Korea are expected to jump from USD 179.8 million in 2024 to USD 397.6 million by 2034.
In recent years, digital innovations in eCommerce have transformed the face of the retail sector as well as customer expectations. To match the present expectation of an optimum shopping experience, retailers are adopting technological solutions like on-shelf availability (OSA) solutions to digitize their physical stores. Several players are presenting on-shelf availability solution integrated with artificial intelligence (AI) and image recognition (IR) to maximize store efficiency.
OSA solutions are increasingly being deployed by leading retailers in Korea. The chief reason behind OSA usage is to boost sales by diagnosing and fixing shelf and supply issues. By preventing out-of-stock incidents, retailers can sustain their customers and long-term sales.
Key providers of on-shelf availability solution in Korea are driven by the surging execution of new digital infrastructure like 5G networks. Cases of supply chain disruptions are also boosting the application of OSA solutions and software. These solutions empower end-users with automatic inventory monitoring by deploying technologies like cameras, sensors, and RFID. End-users also employ precise data to allow them to switch suppliers if supply chain disruptions are predicted.
Increasing investments in AI research and development are also expected to result in the advancement of OSA solutions. Forecasting future dynamics, retailer businesses are starting to prepare their employees for AI adoption.
| Attributes | Details |
|---|---|
| Industry size of On-shelf Availability Solution in Korea in 2024 | USD 179.8 million |
| Expected Industry Size of On-shelf Availability Solution in Korea by 2034 | USD 397.6 million |
| Forecast CAGR between 2024 to 2034 | 8.3% |
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| Leading Component | Software |
|---|---|
| Value Share % (2024) | 55.60% |
The software segment, as per estimations by our analysts, is anticipated to account for a value share of 55.60% in 2024. A key factor advancing the growth of this segment is the ongoing development of connective technology, which is based on on-shelf availability solution.
The increasing use of OSA software by store owners to implement corrective strategies is inducing the segment’s growth. Apart from this, the software helps predict upcoming inventory conditions like new product execution, distribution voids, and store compliance.
| Leading Application | Potential Risk Analysis |
|---|---|
| Value Share % (2024) | 32.20% |
The potential risk analysis segment is projected to account for a share of 32.20% in 2024. OSA solutions are significantly employed by retailers to mitigate potential risks that may impact sales and profitability. The requirement for potential risk analysis is increasing to avoid situations like missed sales, out-of-stock products, and customer dissatisfaction.
Potential risk analysis is crucial during promotional periods. By using OSA solutions, retailers can make the most of sales opportunities by proactively replenishing stocked-out items. Furthermore, OSA data can help assess the performance of new product launches or identify any availability issues. Accordingly, brands can modify their marketing or promotion plans. Overall, by employing OSA solutions, end-users are elevating their operational efficiency, customer satisfaction, and boosting sales.
Key players are focusing on research and development to lead in product innovations. Companies are expanding their portfolios to include OSA solutions like data analytics, real-time inventory tracking, predictive remodeling, etc. Additionally, they can be seen partnering with other players to develop advanced versions of on-shelf availability solution. Competitors are also using their resources to upgrade their existing solutions to align well with today's challenging demands. Apart from this, players are focusing on acquisitions, mergers, and expansion strategies to drive growth.
Profiles of Leading Players of On-shelf Availability Solution in Korea
| Company Name | Company Particulars |
|---|---|
| Panasonic Corporation | Panasonic provides an extensive range of technology solutions. The on-shelf availability solution offered by the company are empowered by technologies like AI, RFID, and IR, to deliver real-time insights about product availability. These solutions help with category management and diminished revenue losses. |
| IBM Corporation | IBM Corporation is leading provider of various technological solutions, such as on-shelf availability solution. These solutions are integrated with various latest technologies like RFID, artificial intelligence, and image recognition. In the past, company partnered with SAP to co-create solutions for consumer and retail packaged goods. The company is also investing in the development of retail transformation tools. |
| Impinj, Inc | The company provides on-shelf availability solution that utilize RFID tags to locate the products and present real-time data on product availability. The wide-area RFID system completely automates inventory process by eliminating the requirement for hand-held readers. Retailers are planning to deploy OSA solutions across Korea. |
| Retail Solutions, Inc. | The company provides on-shelf availability solution that combine image recognition, RFID, and sensor technology to offer real-time data on product availability. These solutions are utilized by various retailers across Korea, including supermarkets, convenience stores, and department stores. These solutions help manage retail sales across product portfolio by maximizing on-shelf availability and increasing sales. |
| Mindtree Ltd. | The company offers digital transformation and technological services. The company provides OSA solutions, that help recapture money lost in sales and improve shopper satisfaction and retention. |
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| Attribute | Details |
|---|---|
| Estimated Industry Size of On-shelf Availability Solution in Korea in 2024 | USD 179.8 million |
| Projected Industry Size by 2034 | USD 397.6 million |
| Anticipated CAGR between 2024 to 2034 | 8.3% CAGR |
| Historical Analysis of Demand for On-shelf Availability Solution in Korea | 2019 to 2023 |
| Demand Forecast for On-shelf Availability Solution in Korea | 2024 to 2034 |
| By Component | Software, Service |
| By Application | Historical Data Analysis, Response Time Analysis, Vendor Pattern Analysis, Potential Risk Analysis |
| By Deployment Type | On-premises, SaaS |
| By End User | CPG Manufacturers, Retailers, Online Retailers, Suppliers, Warehouses |
| Report Coverage | Industry Size, Industry Trends, Analysis of Key Factors Influencing On-shelf Availability Solution Deployment in Korea, Insights on Korea Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Companies Profiled for On-shelf Availability Solution in Korea | IBM Corporation; Panasonic Corporation; Impinj, Inc.; Verix; Mindtree Ltd.; eBest IOT; Retail Solutions, Inc.; Frontier Field Marketing; Lokad; Others |
The anticipated CAGR through 2034 is 8.3%.
Demand for on-shelf availability solution in Korea is expected to be USD 397.6 million by 2034.
Research and development is expected to be a default strategy for players.
Software component is a highly deployed on-shelf availability solution.
Potential risk analysis is a significant application segment for on-shelf availability solution.
| Market Estimated Size in 2024 | USD 4.8 billion |
|---|---|
| Projected Market Value in 2034 | USD 11.6 billion |
| Value-based CAGR (2024 to 2034) | 9.1% |
| Expected Base Year Value (2024) | USD 2,191.2 million |
|---|---|
| Anticipated Forecast Value (2034) | USD 7,516.8 million |
| Estimated CAGR (2024 to 2034) | 13.1% |
| Market CAGR (2023 to 2033) | 9.7% |
|---|---|
| Market Size (2023) | USD 18,845.3 million |
| Market Size (2033) | USD 18,845.3 million |
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On-shelf Availability Solution Industry Analysis in Korea
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