Carving Stations Market Poised for Exponential Growth, projected to Reach US$ 31.99 Billion with a CAGR of 25.2% between 2023 and 2033, Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / May 30, 2023 / In 2023, the global carving stations market will be worth US$ 3.38 billion. According to reports from Future Market Insights, the market is predicted to grow at a 25.2% CAGR from 2023 to 2033 and will be worth US$ 31.99 billion at that time.

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, offers, and content management of the products in real-time thereby has impacted the adoption of carving shelves as well. The 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:

• Sales of the global carving stations market expanded at a CAGR of 24.7% from 2018 to 2022.
• The 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's market dominated the Asia Pacific carving shelves market, thereby, achieving a market value of US$ 41.5 million.
• Japan's 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.
• The stainless steel market is expected to increase at a CAGR of 3.2%.
• Hotels are said to dominate the market region of carving stations.

"Increased Use of Technologies like the Internet of Things (IoT) and Radio Frequency Identification (RFID) in Retail is one of the primary drivers of the global demand trends of the carving stations market," - says an analyst at Future Market Insights (FM).

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Competitive Landscape:

Some of the prominent players 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

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.

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global carving stations market providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the carving stations market is segmented based on major By Product (Hot carving stations, Cold carving stations), By Material ( Stainless Steel, Plastic), By End-use (Hotels, restaurants, catering companies), and by Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa)

Key Segmentation:

By Product Type:

• Hot Carving Stations
• Cold Carving Stations

By Material:

• Stainless Steel
• Plastic

By End-User:

• Restaurants
• Hotels
• Catering Companies

By Region:

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

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Table of Content (ToC):

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.2. Scenario Forecast

3.3. Opportunity Map Analysis

3.4. Product Life Cycle Analysis

3.5. Supply Chain Analysis

3.6. Investment Feasibility Matrix

3.7. Value Chain Analysis

3.8. PESTLE and Porter's Analysis

3.9. Regulatory Landscape

3.10. Regional Parent Market Outlook

3.11. Production and Consumption Statistics

3.12. Import and Export Statistics

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022

4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type

5.1. Introduction / Key Findings

5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2018 to 2022

5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2023 to 2033

5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022

5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material

6.1. Introduction / Key Findings

6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Material, 2018 to 2022

6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Material, 2023 to 2033

6.4. Y-o-Y Growth Trend Analysis By Material, 2018 to 2022

6.5. Absolute $ Opportunity Analysis By Material, 2023 to 2033

Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-17296

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SOURCE: Future Market Insights, Inc.