Global Assortment and Space Optimisation (ASO) Market Report and Forecast 2023-2028

Global Assortment and Space Optimisation (ASO) Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global assortment and space optimisation (ASO) market attained a value of USD 1719 million in 2022. Aided by the increasing adoption of data-driven approaches and growing retail sector, the market is projected to further grow at a CAGR of 12.4% between 2023 and 2028 to reach a value of USD 3455.24 million by 2028.

Assortment and space optimisation (ASO) refers to a data-driven approach to efficiently manage the allocation of products and available retail space. This strategy involves the use of analytical tools and software to determine the ideal product mix, considering factors such as customer preferences, sales data, and market trends. ASO aims to maximise sales and profitability by ensuring that the most relevant and high-demand products are stocked and displayed in the most effective way. The increasing adoption of data-driven approaches in the retail sector is driving the growth of the assortment and space optimisation (ASO) market. This shift towards data-driven strategies has led to a growing demand for ASO solutions that enable retailers to optimise their product offerings and store layouts.

Retailers are adopting ASO solutions to stay competitive and meet the evolving needs of consumers. The growing focus on omnichannel retail strategies is also positively impacting the assortment and space optimisation (ASO) market. ASO solutions enable retailers to synchronise their product assortments and inventory levels across these channels, ensuring a consistent and personalised customer experience. Furthermore, the rising need for efficient inventory management in the retail sector is another factor contributing to the growth of the assortment and space optimisation (ASO) market. Efficient inventory management is crucial for reducing stockouts, overstocks, and shrinkage, which can significantly impact a retailer's profitability. ASO solutions help retailers to optimise their inventory levels by analysing sales data and forecasting demand, enabling them to make informed decisions on replenishment and markdowns.

The increasing adoption of cloud-based ASO solutions is another trend that is expected to drive the growth of the assortment and space optimisation (ASO) market during the forecast period. As more retailers recognise the benefits of cloud-based solutions, the demand for cloud-based ASO software is expected to increase. In addition, the growing emphasis on sustainability and reducing waste in the retail sector is expected to boost the demand for ASO solutions. By optimising product assortments and inventory levels, retailers can minimise overstock situations and reduce the need for markdowns, ultimately decreasing the amount of unsold and discarded products. This not only contributes to a more sustainable retail environment but also leads to cost savings and improved profitability for retailers. These advantages and applications are expected to positively impact the growth of the assortment and space optimisation (ASO) market.

Market Segmentation

The market can be divided on the basis of component, deployment, enterprise size, and region.

Market Division by Component:

• Solutions
• Services

Market Bifurcation by Deployment:

• On-Premises
• Cloud

Market Segregation by Enterprise Size:

• Large Enterprises
• Small and Medium Sized Enterprises

Market Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the assortment and space optimisation (ASO) companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Oracle Corporation,
• Blue Yonder Group, Inc.
• SAP SE
• McKinsey & Company
• Aptos, LLC
• Microsoft Corporation
• IBM Corporation
• Accenture plc
• Nielsen Consumer LLC
• Tata Consultancy Services Limited
• Symphony Retail Solutions
• RELEX Solutions
• Invent Analytics
• Others

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*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.