Retail Cloud Market Size .pdf
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Retail Cloud Market Size, Share, Development,
Growth and Demand Forecast to 2023
The study reveals that the global retail cloud market is likely to grow from $11.114.0 million in
2016 to $40,729.5 million by 2023. Due to increasing adoption of smartphones globally, shift
toward omni-channel experience, and greater demand for compliance and collaboration, the
global retail cloud market is gaining traction As per the findings of research, the retail cloud
solution forms larger part of the global retail cloud market compared to products in this market.
Among various deployment models of retail cloud, public cloud is expected to witness the highest
growth in demand during the forecast period. Small and medium enterprises are the larger user
of retail cloud compared to large enterprises. This trend is further expected to continue in the
coming years. Among various regions, retail cloud market is expected to witness fastest growth
in demand from Asia-Pacific, during the forecast period.
Geographically, North America has been the largest market for retail cloud, whereas the market
in Asia-Pacific is expected to witness highest growth among all regions due to huge potential of
cloud based technology adoption. Due to the strengthening economy of Asia and rapid
improvement in the technology infrastructure, the the adoption of retail cloud solution in the
region is expected to increase. This is also expected to streamline various operational issues
faced by retailers in the region.
Access Report Description: https://www.psmarketresearch.com/market-analysis/retailcloud-market
Professional service is expected to hold larger market during 2017-2023. It includes services that
enable retailers in reducing functional and operational complexities, lowering risk to go-to-market,
and increase return on investment (RoI). Globally, the retail sector is shifting toward cloud
adoption in order to provide better and interactive customer experience. In addition, professional
service also includes project management, training and development, product pre-planning, and
service deployment methodology. the global retail cloud market is projected to reach $40,729.5
million by 2023, growing at a CAGR of 20.5% during 2017 - 2023.
The factors driving the growth of the market include rapid adoption of smartphones globally, need
for compliance and collaboration, and shift toward omni-channel by retailers. With rapid increase
in the adoption of smartphones and tablets, the devices are serving a point of sale (POS)
systems helping in handling the inventory, payment management, and location information.
Further, through smartphones and cloud technology, retailers can capture real time information
to adjust their product and service according to the market conditions and take advantage of new
Globally, with the increase in customer expectation for more variety, convenience, information
and access to the product and service from retailers, the complexity of supply chain is increasing.
This has led to over pressure the retailer to balance the risk of bringing product to the market
more quickly, ensuring proper assessment of the offerings. Retail cloud solution allows retailers
with end-to-end compliance lifecycle management, which help them in capturing the detailed
product information during the raw material sourcing and selection of various suppliers and the
product manufacturing processes.
Omni-channel has become a major requirement for retailers to stay competitive in the present
global market. It allows customers to research on various products and services, compare the
prices, make purchase decisions, and receive the product through multiple channels. Retail cloud
enable efficient and effective omni-channel fulfillment with various tolls for real time visibility into
inventory across all channels, faster time to market the product, cloud based platform to provide
consistence customer experience for multiple brands and predictive intelligence enabling highly
personalized shopping experience.
Internet of things (IoT) in retail is a major opportunity for the growth of the global retail cloud
market. Retail industry is in need for connected solutions to eliminate the host of issues and
associated cost generated from lower productivity, mishandled stocking, empty store shelves and
poor inventory management. Leveraging the advantage of infrastructure equipped with cameras,
sensors, beacons and RFID chips, retailers can tackle such problems and make greater use of
cloud and related technology.
The research states that the global retail cloud market is moderately competitive with players
introducing their product offerings catering to the specific needs of the retailers. Some of the key
players in the global retail cloud market are Cisco Systems Inc., SAP SE, IBM, Microsoft
Corporation, Oracle Corporation, Infor, RetailCloud, and Epicor Software Corporation.
Product launches and enhancements, and strategic partnerships have been the major recent
developments in the retail cloud market. Vendors are differentiating their offering based on the
set of tools providing various retail cloud solution and services according to the retailer need and
overall industry demand.
GLOBAL RETAIL CLOUD MARKET SEGMENTATION
Supply Chain Management
Reporting and Analytics
Software as a Service
Platform as a Service
Infrastructure as a Service
By Deployment Model
By Enterprise Type
Small and Medium Enterprise
Rest of North America
Rest of Europe
Rest of Asia-Pacific
Middle-East & Africa (MEA)
Rest of MEA
Rest of Latin America