According to latest report by IMARC Group, titled “Global Retail Analytics Market Growth: Industry Trends, Share, Size, Opportunity and Forecast 2020-2025,” The global retail analytics market grew at a CAGR of around 20% during 2014-2019. Retail analytics provides analytical data on inventory levels, sales, consumer demand, and supply chain movement. It helps organizations in determining customer insights, such as emerging trends and changing preferences, by consolidating data from various segments that require improvements. Retail analytics has emerged as a significantly powerful tools to sustain procurement levels and empower businesses by facilitating a quick and effective decision-making process.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
Due to the recent outbreak of the COVID-19 pandemic, there has been a significant change in consumer preferences, product demand, and the requirement of logistics services. Consequently, retail analytics solutions are widely adopted to calculate risks and form suitable re-opening strategies. Additionally, the proliferation in the e-commerce and retail industries has led to the widespread adoption of cloud-based retail analytics for on-demand computing power to monitor large volumes of data and obtain useful information immediately. Moreover, the advent of big data and predictive analytical models has further augmented the utilization of advanced analytics solutions by retailers. It enables them to predict results through data integration across sensors, apps, social media platforms, and other channels. These technological developments further drive the growth of the retail analytics market.
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Key Market Segmentation:
Breakup by Function:
1. Customer Management
2. In-store Operation
3. Strategy and Planning
4. Supply Chain Management
5. Marketing and Merchandizing
Breakup by Component:
Breakup by Deployment Mode:
Breakup by End User:
1. Small and Medium Enterprises
2. Large Enterprises
Breakup by Region:
1. North America
2. Asia Pacific
4. Latin America
5. Middle East and Africa
Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
The report has also examined the competitive landscape of global retail analytics market. Some of the major players in the market are 1010data Inc. (Advance Publications Inc.), Adobe Inc., Altair Engineering Inc., Flir Systems Inc., Fujitsu Limited, International Business Machines Corporation, Information Builders Inc., Microsoft Corporation, Microstrategy Incorporated, Oracle Corporation, Qlik Technologies Inc. (Thoma Bravo LLC), SAP SE, SAS Institute Inc., Tableau Software LLC (Salesforce.com Inc.) and Tibco Software Inc.
Key highlights of the report:
1. Market Performance
2. Market Outlook
3. Porter’s Five Forces Analysis
4. Market Drivers and Success Factors
5. SWOT Analysis
6. Value Chain
7. Competitive Structure
8. Profiles of Key Players
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