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Retail Analytics Market to hit $13bn by 2024:
Global Market Insights Inc.
Retail Analytics industry analysis is covered in this latest research report that aims to
help those taking daily business decisions by providing market trends information,
competitive landscape scenario, forecasts and more.
Retail Analytics Market size is set to exceed USD 13 billion by 2024; according to a
new research report by Global Market Insights, Inc.
The retail analytics market is expected to grow at a significant rate, owing to the
emerging e-commerce trend across the retail sector. The new generation of highly
informed and demanding customers are encouraging the retailers to adopt
technologies that will satisfy the evolving demands. The inclination of retailers to
implement technologically advanced and intelligent solutions to attract new
customers, retain old customers, and improve profit margins is expected to drive the
retail analytics market growth.
Growth in demand for easy-to-use and easy-to-decipher solutions are compelling
companies to implement modern technologies such as machine learning in the
analytics software. The trend of extraction of consumer data from e-commerce
portals and social networking websites to gather insights is expected to bode well for
the retail analytics market, owing to the increasing internet penetration.
Lack of privacy of customer data is expected to challenge the retail analytics market
growth over the forecast timeline. Increasing use of data from social media platforms
to map customer habits and shopping behaviors are expected to remain a major
area of concern. High initial costs of implementing the software will further hamper
the adoption in the retail sector. However, emerging startups that provide specialized
solutions at lower prices are expected to expand market to small retailers.
Growing demand for customized products and constantly changing consumer
requirements is expected to drive the supply chain analytics software demand. Lack
of inventory space has compelled retailers gather insights from the supply chain data
to optimize operations and reduce costs. Reporting and visualization tools are
anticipated to witness increase in demand, owing to the growing need to analyze
data in an easy-to-read format in lesser time. Smart visual insights and
implementation artificial intelligent dramatically reduces the time to insight and arrive
at decision. Companies are inclined towards developing such tools that make data
access and visualization easy contributing towards the retail analytics market growth.
The demand for on-premise solutions is expected to gain momentum from the small
and unorganized retailers which is expected to drive the retail analytics market.
These solutions are ideal for the organization with limited customer foot-fall and
limited geographical presence. Increasing competition among the solution providers
has compelled them to introduce customized on-premise solutions that cater to
specific demands of the retailers.
U.S. Retail Analytics Market Size, By Function, 2016 & 2024 ($Mn)
Browse key industry insights spread across 180 pages with 133 market data tables &
26 figures & charts from the report, “Retail Analytics Market Size By Function
(Customer Management, Merchandising, In-Store Operations, Supply Chain,
Strategy & Planning), By Solution (Software [Data Management Software,
Analytical Tools, Mobile Application, Reporting & Visualization], Services
[Managed Service, Professional Service]), By Deployment Mode (Cloud-based,
On-Premise), Industry Analysis Report, Regional Outlook (U.S., Canada, UK,
Germany, France, Italy, Russia, China, India, Japan, Australia, Brazil, Mexico,
UAE, Saudi Arabia, South Africa), Growth Potential, Price Trends, Competitive
Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
The Asia Pacific retail analytics market is expected to witness significant growth
during the forecast timeframe, owing to the expansion of organized retail sector. In
India, the exponential increase of e-commerce industry size and smartphones to buy
consumer goods has prompted the need for data-driven business intelligence
solutions. This has attracted big players such as HCL and IBM, in addition to the
emergence of regional players including Manthan Systems, BRIDGEi2i Analytics
Solutions, and Fractal Analytics.
Some of the prominent vendors in the retail analytics market include Adobe
Systems, SAP SA, SAS Institute, Teradata, 1010Data, Salesforce.com, Inc., IBM,
etc. Companies continuously invest in development of technologically advanced and
differentiated products to retain their position in the market. For instance, in April
2017, 1010Data, Inc. announced the launch of upgraded software development kits.
The new SDKs are designed to support applications across enterprises.
Segmentation of Retail analytics Market:
Retail analytics market research report includes in-depth coverage of the industry
with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the
Retail analytics market by function
Strategy & planning
Retail analytics market by solution
o Data management software
o Analytical tools
o Mobile applications
o Reporting & visualization
Retail analytics market by deployment mode
The above information has been provided on a regional and country basis for the
o Saudi Arabia
o South Africa
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for
key industries such as chemicals, advanced materials, technology, renewable
energy and biotechnology.
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Global Market Insights, Inc.
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