Assortment and Space Optimization (ASO) Market

Market Overview:

The global assortment and space optimization (ASO) market size reached US$ 1.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2032, exhibiting a growth rate (CAGR) of 10.86% during 2024-2032. The rapid proliferation of stock-keeping units (SKUs), the widespread utilization of ASO in the e-commerce industry, and the introduction of cloud-based ASO represent some of the key factors driving the market.

Assortment and space optimization (ASO) refers to solutions and services aimed at determining the optimal selection and arrangement of products in a store. It uses information, such as available space, product dimensions, fixture configuration, replenishment schedule, expected demand, merchandising rules, and visual guidelines, to create virtual planograms and provide finalized assortment. ASO is widely used in retail stores, manufacturing units, e-commerce, and supermarkets to optimize shelves, pegboards, freezer chests, and various fixture types. It improves store features, increases sales, enhances the aesthetic appeal, promotes impulsive buying, and maximizes profit. ASO also enhances customer satisfaction, improves management efficiency, augments store performance, eliminate out-of-stock issues, saves time in store planning, reduces capital expenditure, and minimizes missed sale opportunities.

Assortment and Space Optimization (ASO) Market Trends:

The rapid proliferation of stock-keeping units (SKUs) across the globe is one of the primary factors driving the market growth. ASO is widely used by retail stores, brands, convenience stores, and businesses to manage and maintain SKUs efficiently, as it aids in optimizing shelf space, improving product rotations, reducing assortment efforts, allowing macro-level space planning, providing better store coverage, and enhancing product visibility. In addition to this, an increasing number of retailers are adopting a consumer-centric and demand-driven assortment optimization strategy that reduces overall costs, improves profit margin, provides a better return on investment (RoI), and augments retailer’s confidence, which, in turn, is acting as another growth-inducing factor. Furthermore, the widespread utilization of ASO in the e-commerce industry to reduce the cost of inventory and logistics, improve customer retention, optimize digital shelves, manage new product launches, maximize revenue, and monitor product guidelines to prevent misrepresentation is positively influencing the market growth. Additionally, the introduction of cloud-based ASO that offers real-time data with space-aware analytics, streamlines workflow and allows manufacturers to access performance data remotely and understand the effectiveness of assortment plans before execution is providing an impetus to the market growth. Apart from this, the incorporation of artificial intelligence (AI) and machine learning (ML)-based algorithms to develop targeted assortments, match store’s product selection with consumer preference, prevent stockouts, minimize markdowns, and aid users in better decision-making is propelling the market growth. Other factors, including rising space restrictions, extensive research and development (R&D) of innovative ASO solutions, and increasing investment by owners in store modernization, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global assortment and space optimization (ASO) market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on component, deployment mode, and enterprise size.

Component Insights:

• Solutions
• Services
   

The report has provided a detailed breakup and analysis of the assortment and space optimization (ASO) market based on the component. This includes solutions and services.

Deployment Mode Insights:

• On-premises
• Cloud-based
   

A detailed breakup and analysis of the assortment and space optimization (ASO) market based on the deployment mode has also been provided in the report. This includes on-premises and cloud-based. According to the report, cloud-based accounted for the largest market share.

Enterprise Size Insights:

• Large Enterprises
• Small and Medium-sized Enterprises
   

A detailed breakup and analysis of the assortment and space optimization (ASO) market based on the enterprise size has also been provided in the report. This includes large enterprises and small and medium-sized enterprises. According to the report, large enterprises accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for assortment and space optimization (ASO). Some of the factors driving the North America assortment and space optimization (ASO) market included the increasing number of retail stores, rising consumer expenditure capacities, and rapid proliferation of stock-keeping units (SKUs).

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global assortment and space optimization (ASO) market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Accenture plc, Aptos LLC, Blue Yonder Group Inc. (Panasonic Holdings Corporation), Invent Analytics, McKinsey & Company, Nielsen Consumer LLC, Oracle Corporation, RELEX Solutions, SymphonyAI, TATA Consultancy Services Limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global assortment and space optimization (ASO) market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global assortment and space optimization (ASO) market?
• What is the impact of each driver, restraint, and opportunity on the global assortment and space optimization (ASO) market?
• What are the key regional markets?
• Which countries represent the most attractive assortment and space optimization (ASO) market?
• What is the breakup of the market based on the component?
• Which is the most attractive component in the assortment and space optimization (ASO) market?
• What is the breakup of the market based on the deployment mode?
• Which is the most attractive deployment mode in the assortment and space optimization (ASO) market?
• What is the breakup of the market based on enterprise size?
• Which is the most attractive enterprise size in the assortment and space optimization (ASO) market?
• What is the competitive structure of the global assortment and space optimization (ASO) market?
• Who are the key players/companies in the global assortment and space optimization (ASO) market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the assortment and space optimization (ASO) market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global assortment and space optimization (ASO) market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the assortment and space optimization (ASO) industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.