The global retail analytics market size is anticipated to expand at a substantial CAGR during the forecast period, 2021 – 2028. Growth of the market is attributed to digitalization, increasing online shopping, rising use of big data, social media, and proliferation of smartphones.
The practice of delivering comprehensive data on inventory trends, supply chain flow, customer appetite, sales, and other factors that are critical for marketing and procurement decisions is known as retail analytics. The demand and supply data mining can be used to manage procurement levels to make marketing decisions. Retail analytics provides comprehensive consumer feedback and insights into the organization's business procedures.. Retail analytics is expected to help traditional brick-and-mortar stores to optimize and forecast, manage and control the inventory, and cluster preparation.
The report on the global retail analytics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Retail Analytics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Services (Professional, Support, and Maintenance), Deployment (On-demand, Cloud, and On-premise) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Adobe Systems, Oracle, IBM, SAS Institute, and SAP AG |
Maintenance segment to expand at a high CAGR
Based on services, the global retail analytics market is divided into professional, support, and maintenance. The maintenance segment is expected to account for a key share of the market, in terms of revenue, by 2028, as it maintenance ensures a safe and agile retail cloud to handle all retail functions.
Cloud segment is projected to constitute a key market share
On the basis of on deployment, the market is divided into on-demand, cloud, and on-premise. The cloud segment is expected to account for a key share of the market in the coming years due to its enhanced capacity for data storage and processing. Cloud-based retail analytics solutions provide retailers with on-demand computing capability to manage enormous data volumes and give meaningful insights in a timely manner.
North America holds a significant share of the global market
In terms of regions, the global retail analytics market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounts for a key share of the market due to rapid deployment of retail analytics solutions for advanced systems and availability of high working capital at the disposal of many retailers in the area; however, the market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period.
Segments Covered in the Report
The global Retail Analytics market has been segmented on the basis of
Services
Deployment
Regions
Key Players
Key players in the market include Adobe Systems, Oracle, IBM, SAS Institute, and SAP AG. These key players have technologies that include a wide range of business functions, including merchandising, marketing, consumer analytics, supply chain management, and retail analytics, as well as strategy and planning.
Segments Covered in the Report
The global Retail Analytics market has been segmented on the basis of
Services
Deployment
Regions
Key Players
Key players in the market include Adobe Systems, Oracle, IBM, SAS Institute, and SAP AG. These key players have technologies that include a wide range of business functions, including merchandising, marketing, consumer analytics, supply chain management, and retail analytics, as well as strategy and planning.
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