The new report by Expert Market Research titled, ‘Global Assortment and Space Optimization (ASO) Market Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the global assortment and space optimization (ASO) market, assessing the market based on its segments like components, deployment, enterprise sizes, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027):20.6%
The global assortment and space optimization (ASO) market is expected to be driven by the need to make effective product assortment decisions, especially under constraints, such as limited shelf space or budgetary limitations. The rising number of SKUs (stock-keeping units), restricted shelf space, varied store features, and supply chain complexities pressurise retailers to perform correct assortment.
Retailers have started adopting a customer-centric, demand-driven assortment optimization strategy, which is one of the key factors responsible for propelling the global market growth. As the assortment drives the inventory decisions, it affects overall cost, further enhancing the demand for space and assortment optimization solutions. Cumulative use of data-driven algorithms by retailers enhances the demand for store assortment planning.
Industry Definition and Major Segments
By optimising item assortment and placement on a planogram, assortment, and space optimization (ASO) is used to determine the best product selection and arrangement in stores. To optimise total performance, assortment, and space optimization (ASO) considers information, such as store space availability, product dimensions, fixture configurations, expected demand and change in demand, top-up schedules, target service levels, merchandising rules, visual guidelines, and category goals.
By component, the market is segmented into:
Based on deployment, the market is classified into:
By enterprise size, the market is divided into:
• Large Enterprises
• Small and Medium Sized Enterprises
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Cloud computing has enabled big data and artificial intelligence (AI) to provide merchants with the opportunity and power to conduct fast assortment and optimization better aligned to customer needs and behaviours, boosting merchants’ chances of making higher profits. Advanced solutions provide more information about consumer behaviour, buying decisions, and market changes. Such solutions are likely to increase market activity.
The increasing need for shelf space optimization entices small and medium-sized retailers to adopt the solution. The ASO system’s ability to increase margins, customer satisfaction and opportunities would boost the market demand. Further, the presence of prominent retailers and market players is expected to propel market growth globally.
Key Market Players
The major players in the market are Kantar Group Limited, Oracle Corporation, Symphony Retail Solutions S.à.r.l, TRAX TECHNOLOGY SOLUTIONS PTE LTD., The Nielsen Company, LLC., and SmartDraw, LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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