Retail Analytics Market Share, Size, Revenue, Business Boosting Strategies, Forecast 2030 with CAGR of 21.2%
Growing number of smartphones and increasing use of m-commerce are key factors driving retail analytics market revenue growth
VANCOUVER, BRITISH COLUMBIA, CANADA, November 9, 2022 /EINPresswire.com/ — The global retail analytics market size was USD 5.26 Billion in 2021 and is expected to register a revenue CAGR of 21.2% during the forecast period, according to latest analysis by Emergen Research. Rapid digitalization to enhance customer experience and retail operations is a primary factor driving market revenue growth.
Retail analytics could improve customer engagement and experience by providing services and products they require. Companies use retail analytics to gather huge amount of information from physical assets and storefronts in real-time, utilize sophisticated analytics to generate significant insight and improve choices. The digital revolution is transforming how things are organized, created, and delivered to customers.
Large retail outlets use technology to manage their supply chains, avoid loss, prevent theft, and handle invoicing and payments. Retail analytics are used to get insights into sales, inventories, customers, and other vital factors that are important for decision-making. While huge corporations reap benefits of such technologies, however, the unorganized retail sector suffers with technology’s limited availability, affordability, and adoption of modern technology. While unorganized stores might want to use technology to improve, they are typically constrained by budgetary restrictions. Unorganized businesses are under stress from both contemporary trade outlets and expansion of e-commerce. Legacy system maintenance comes as a heavy hidden cost that prevents innovation and digitalization. Retail enterprises, especially in rural and remote areas, have struggled to expand and modernize because of the high cost of capital and difficulties in securing capital investments, which is expected to restrain market growth.
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Research Report on the retail analytics Market Addresses the Following Key Questions:
Who are the dominant players of the retail analytics market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the retail analytics market?
What are the key growth drivers and restraining factors of the retail analytics market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the retail analytics market and its key segments?
Competitive Landscape:
The Essential Approach to Strengthening the Position of the Company is Continuous Development
The major industry participants are eager to incorporate cutting-edge technologies like blockchain, artificial intelligence, machine learning, cloud computing, and more with the retail analytics solution. The providers hope to provide specialised analytics tools through these developments in order to improve the consumer experience. To establish a dominant market position, the players are introducing a fresh and cutting-edge solution.
Key Companies Profiled in the Report are:
Microsoft, Oracle, IBM, Salesforce, Inc., SAP, Amazon Web Services, Inc., Microstrategy, Google, Capillary Technologies, and Retailnext, Inc.
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Highlights of the TOC:
1. Report Overview
1.1 Research Scope
1.2 Key retail analytics market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
2. Global Growth Trends
2.1 Global retail analytics market size
2.2 Latest retail analytics market trends
2.3 Key growth trends
3. Competitive Landscape
3.1 Global retail analytics market key players
3.2 Global retail analytics size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the retail analytics market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
Emergen Research has segmented the global retail analytics market based on component type, application type, organization size:
Component Type Outlook (Revenue, USD Billion; 2019-2030)
Solution
Services
Application Type Outlook (Revenue, USD Billion; 2019-2030)
Merchandising analysis
Pricing analysis
Customer analytics
Promotional analysis & planning
Yield analysis
Inventory analysis
Others (order management, transportation management, assortment and cluster planning, and real-estate planning)
Organization Size Outlook (Revenue, USD Billion; 2019-2030)
Large enterprises
Small and Medium-sized Enterprises (SMEs)
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Regional Landscape section of the retail analytics report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the retail analytics market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Valuable Market Insights:
The report highlights the latest trends observed in the consumption pattern of each regional segment.
Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global retail analytics market.
The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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