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Global Assortment and Space Optimization (ASO) Market: By Component: Solutions, Services; By Deployment: On-Premises, Cloud; By Enterprise Size: Large Enterprises, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: Swot Analysis; Competitive Landscape; Industry Events and Developments
Global Assortment and Space Optimization (ASO) Market Outlook
The global assortment and space optimization (ASO) market is expected to grow at a CAGR of 20.6% during the period 2022-2027. The 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. North America, Europe and Asia are expected to be key markets.
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Global Market Likely to be Driven by Need to Optimally Arrange Products in the Right Quantities in Stores to Maximize Profit and Customer Satisfaction
Assortment and space optimization (ASO) is employed to identify optimal selection and arrangement of products in stores by optimizing item assortment and placement on a planogram. Assortment and space optimization (ASO) considers information related to space availability in stores, dimensions of product, configurations of fixtures, expected demand and change in demand, top up schedules, target service levels, merchandising rules, visual guidelines, and category goals to optimize total performance.
Optimization of retail space and item assortment in that space has been a key area of concern for manufacturers and retailers. From the point of view of the retailer, shelf space is a crucial asset; assortment variety raises inventory cost, further, assortment is important to demand generation and shopper satisfaction. For the manufacturer, assortment selection and category space allocation are likewise important. It would not be possible for manufacturers to make sufficient profits if their products are not effectively displayed on shelves of stores. Given today’s competitive and dynamic business environment, space and assortment have assumed much significance. With time and increasing retail competition, assortment and space optimization has become more complex. Leading players such as Walgreens, Safeway, Walmart, and 7-Eleven are being forced to consider recommending and building assortments for thousands of sites. The growing significance of assortment and space optimization (ASO) is expected to boost the global assortment and space optimization (ASO) market.
Increasing Number of SKUs, Decreasing Spaces Warrant Effective Assortment and Space Optimization
Rising number of SKUs (stock keeping units), restricted shelf space, varied store features, and supply chain complexities pressurize retailers to perform correct assortment. Assortment has developed beyond just simple performance metrics like overall sales or rotation numbers. Today, big data and advanced analytics have made possible extensive analysis of consumer behaviour at the flick of a button. Obtaining value through assortment optimization assumes all the more significance considering an increasingly complex and space-constrained retail environment; maintaining optimal product assortment in stores is vital to retailers’ commercial activity. Effective assortment leads to higher sales and gross margins, more efficient operations, and a robust customer base.
While bigger brands are continually innovating and raising the number of their SKUs, smaller brands are also quickly increasing the number of SKUs. Private-label products are also growing significantly in terms of share and number. Shelf space is getting limited with increasing number of products and opening of new stores in restricted spaces. Decisions regarding the items that should be listed or removed from the assortment are compounded with increasing complexities of supply chain, despite increase in the number of SKUs.
Managing assortment is important even in e-commerce, where there is virtually infinite shelf space; assortment must be managed to hold customers’ attention and control logistics and inventory cost.
Retail stores vary in size and format. Factors including traffic connectivity and surrounding social and economic factors affect the performance of SKUs and product categories. Assortment must thus be optimized to specifics of every site; macrospace allocation (space to be dedicated to a particular category in each store) and localization (determining the optimal SKU mix for every store) are important elements to this end. In light of the above, it may be concluded that assortment and space optimization (ASO) would gain more importance, and that the global assortment and space optimization (ASO) market would grow during the forecast period.
Advancements in Cloud Computing, Big Data and AI Expected to Contribute to Market Growth
Growth in cloud computing has enabled big data and artificial intelligence (AI) to offer merchants the chance and the capability to timely carry out assortment and optimization better aligned to customer needs and behaviours, increasing merchants’ chances of earning better profits. Advanced solutions offer deeper insights into consumer behaviour, purchase decisions, and changes in the market. Such solutions are likely to stimulate the market.
Market Segmentation
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By component, the market is segmented into:
- Solutions
- Services
By deployment, the market is classified into:
- On-Premises
- Cloud
By enterprise size, the market is divided into:
- Large Enterprises
- Small and Medium Sized Enterprises
By region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Industry Players in the Global Assortment and Space Optimization (ASO) Market
The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Kantar Group Limited
- Oracle Corporation
- Symphony Retail Solutions S.à.r.l
- TRAX TECHNOLOGY SOLUTIONS PTE LTD.
- The Nielsen Company, LLC.
- SmartDraw, LLC
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2021 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment |
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| Breakup by Enterprise Size |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Assortment and Space Optimization (ASO) Market Analysis
8.1 Key Industry Highlights
8.2 Global Assortment and Space Optimization (ASO) Historical Market (2017-2021)
8.3 Global Assortment and Space Optimization (ASO) Market Forecast (2022-2027)
8.4 Global Assortment and Space Optimization (ASO) Market by Component
8.4.1 Solutions
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Services
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.5 Global Assortment and Space Optimization (ASO) Market by Deployment
8.5.1 On-Premises
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Cloud
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.6 Global Assortment and Space Optimization (ASO) Market by Enterprise Size
8.6.1 Large Enterprises
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Small and Medium Sized Enterprises
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.7 Global Assortment and Space Optimization (ASO) Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Kantar Group Limited
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Oracle Corporation
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Symphony Retail Solutions S.à.r.l
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 TRAX TECHNOLOGY SOLUTIONS PTE LTD.
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 The Nielsen Company, LLC.
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 SmartDraw, LLC
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 Others
12 Industry Events and Developments
List of Figures and Tables
1. Global Assortment and Space Optimization (ASO) Market: Key Industry Highlights, 2017 and 2027
2. Global Assortment and Space Optimization (ASO) Historical Market: Breakup by Component (USD Million), 2017-2021
3. Global Assortment and Space Optimization (ASO) Market Forecast: Breakup by Component (USD Million), 2022-2027
4. Global Assortment and Space Optimization (ASO) Historical Market: Breakup by Deployment (USD Million), 2017-2021
5. Global Assortment and Space Optimization (ASO) Market Forecast: Breakup by Deployment (USD Million), 2022-2027
6. Global Assortment and Space Optimization (ASO) Historical Market: Breakup by Enterprises Size (USD Million), 2017-2021
7. Global Assortment and Space Optimization (ASO) Market Forecast: Breakup by Enterprises Size (USD Million), 2022-2027
8. Global Assortment and Space Optimization (ASO) Historical Market: Breakup by Region (USD Million), 2017-2021
9. Global Assortment and Space Optimization (ASO) Market Forecast: Breakup by Region (USD Million), 2022-2027
10. North America Assortment and Space Optimization (ASO) Historical Market: Breakup by Country (USD Million), 2017-2021
11. North America Assortment and Space Optimization (ASO) Market Forecast: Breakup by Country (USD Million), 2022-2027
12. Europe Assortment and Space Optimization (ASO) Historical Market: Breakup by Country (USD Million), 2017-2021
13. Europe Assortment and Space Optimization (ASO) Market Forecast: Breakup by Country (USD Million), 2022-2027
14. Asia Pacific Assortment and Space Optimization (ASO) Historical Market: Breakup by Country (USD Million), 2017-2021
15. Asia Pacific Assortment and Space Optimization (ASO) Market Forecast: Breakup by Country (USD Million), 2022-2027
16. Latin America Assortment and Space Optimization (ASO) Historical Market: Breakup by Country (USD Million), 2017-2021
17. Latin America Assortment and Space Optimization (ASO) Market Forecast: Breakup by Country (USD Million), 2022-2027
18. Middle East and Africa Assortment and Space Optimization (ASO) Historical Market: Breakup by Country (USD Million), 2017-2021
19. Middle East and Africa Assortment and Space Optimization (ASO) Market Forecast: Breakup by Country (USD Million), 2022-2027
20. Global Assortment and Space Optimization (ASO) Market Structure
Key Questions Answered in the Report
The global assortment and space optimization (ASO) market is projected to grow at a CAGR of 20.6% between 2022 and 2027.
The major drivers of the market include the growth in cloud computing, increasing demand for customer centric approach, increasing need for self-shape optimization, and customer satisfaction.
The need to make effective product assortment decisions and rising number of SKUs (stock keeping units) are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different components are solutions and services.
Based on deployment, the market is classified into on-premises and cloud.
The various enterprise size includes large enterprises and small and medium sized enterprises.
The major players in the industry 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.
Analyst Review
The global assortment and space optimization (ASO) market was driven by the need to make effective product assortment decisions in the historical period. Aided by the growth in cloud computing and rising number of SKUs (stock keeping units), the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 20.6%.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The different components are solutions and services. Based on deployment, the market is classified into on-premises and cloud. The various enterprise size includes large enterprises and small and medium sized enterprises. The major regional markets for assortment and space optimization (ASO) are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry 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.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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