Global carving stations market to reach a valuation of US$ 3.38 billion in 2023. Future Market Insights reports say that the market is expected to grow at a 25.2% CAGR from 2023 to 2033, anticipated to be valued at US$ 31.99 billion by the end of 2033.
Software and solutions are essential tools and platforms, which are used to build connectivity between shelf components and the cloud servers and gateways. In-store execution, category analysis and planning, inventory optimization, price, promotion compliance, store monitoring and intelligence, and planogram monitoring are some of the prime instances of carving shelf software and solutions.
Restaurants and hotels have become essential to monitor and keep track of inventory, planogram, pricing, and offers, and content management of the products in real-time thereby has impacted the adoption of carving shelves as well. Carving stations market is segmented into small and midsize enterprises and large enterprises. Large enterprises (or large-scale retail outlets such as supermarkets) are the early adopters and are the most significant contributors to generating revenue for the market.
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Carving shelves technology is new in the market and is undergoing various deployment and implementation tests by retailers as compared to large enterprises, small and midsize or small retail outlets are growing with a steady growth rate; however, it is expected to have a high adoption rate of the smart shelves technology after two or five years.
Carving shelves have the ability to provide real-time inventory insights, check and update customer buying behavior, pricing management, and assist the retailer in optimizing store operations. Large retailers such as Walmart, Kroger, and Walgreens, among others, have already deployed ESLs, sensors, RFID tags, and readers in their outlets in the US, Canada, and European nations.
Key Takeaways from the Market Study
- Sales of the global carving stations market expanded at a CAGR of 24.7% from 2018 to 2022
- Global carving stations market was estimated to be worth US$ 2.7 billion in 2022.
- The Asia Pacific market for global carving stations market is likely to grow share of 24.3%
- The North American market for global carving stations market is likely to expand at 31.6%.
- China market dominated the Asia Pacific carving shelves market, thereby, achieving a market value of $41.5 million.
- Japan market is showcasing a CAGR of 21%.
- India’s market is expected to witness a CAGR of 22.3% during the forecast period.
- Hot carving stations are said to dominate the market region of carving shelves.
- Stainless steel market is expected to increase at a CAGR of 3.2%.
- Hotels are said to dominate the market region of carving stations.
Competitive Landscape
Some of the prominent players in the global market are-
- Hatco Corporation
- Vollrath Company, LLC
- Alto-Shaam, Inc.
- Duke Manufacturing Co., Inc.
- Tomlinson Industries
- Vollrath Company, LLC
- Federal Industries
- Avantco Equipment
- Rosseto Serving Solutions
- Nemco Food Equipment
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Some of the important developments of the key players in the market are:
- In February 2023, Kaneco, one of Ireland’s leading commercial kitchen specialists, will showcase Alto-Shaam’s complete kitchen equipment solutions including its latest innovation in the multi-cook category, Converge Multi-Cook Ovens at CATEX 2023.
- In December 2022, Hatco Corporation debuted its heated glass shelves with a foundation for warming food.
