Press release
Retail Analytics Market Key Players by 2024: Angoss, Adobe, IBM, SAP SA, Qlik, SAS Institute, and Tableau Software
Global Market Insights, Inc.
Retail Analytics Market size was over USD 3 billion in 2016 and is predicted to grow at around 19% CAGR from 2017 to 2024. One of the latest trends proliferating retail analytics market is that of multiple operational channels. Or, as the experts say so – omni-channels. The technique has brought about a modest amount of consolidation in retail analytics industry, surreptitiously eliminating supply chain chaos and location glitches. While global markets have been attempting to emulate high-grade technology and big data analytics, the retail sector has quietly been engaging with omni-channels to entice more customers, keep them continually engaged, draw data from a stream of sources, and bring about extensive social engagement to trigger a better understanding among consumers regarding the distribution chain.
This initiative fosters the deployment of efficient analytics, which will ultimately usher in a new dawn for retail analytics market. The extensive reach of the retail business, in conjunction with the steadfastly developing e-commerce sector, is also certain to act as a catalyst to Retail Analytics Market, which, as per experts, is forecast to cross a valuation of USD 13 billion by 2024.
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Top Key Players:-
The industry vendors include Angoss Software, Adobe Systems, IBM Corporation, SAP SA, Qlik Technologies, Inc., SAS Institute, and Tableau Software, etc. The industry is characterized by a high degree of competition. The companies adopt strategies such as mergers & acquisitions and new product launches to expand their client base.
Regional Segmentations: -
The U.S. retail analytics market is expected to witness high demand, on account of the rising e-commerce penetration in the region. According to the National Retail Federation, the ecommerce sector in the U.S. is expected to grow at a rate of 8% to 12% in 2017. Furthermore, high adoption rate of advanced technologies and growing need to provide a differentiated customer experience is expected to drive the regional growth.
Changing shopping habits of the customers and growth of organized retail is expected to escalate growth in the Asia Pacific retail analytics market. The exponential growth in the demand for smartphones and flourishing e-commerce sector has attracted many global players such as Amazon & eBay and regional players such as Alibaba, Rakuten, Baidu, and Flipkart. This is expected to increase the demand for mobile-based application tools in the region. Accumulation of big data on large scale is expected to spike the APAC retail analytics market growth.
Major Companies Include in Retail Analytics Market in terms of Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis
1. 1010Data
2. Adobe Systems Incorporated
3. Angoss Software
4. Bedrock Analytics Corporation
5. Brickstream Corp
6. HCL
7. IBM
8. Information Builders
9. Microsoft Corporation
10. Microstrategy Incorporated
11. Oracle Corporation
12. Qlik Technologies, Inc.
13. Salesforce.com, Inc.
14. SAP
15. SAS Institute
16. Tableau Software, Inc.
17. Teradata
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An inherent shift of dynamics has been observed in the deployment of predictive analytics lately. This type of analytics basically entails guesswork regarding consumer behavior and choices and has proved to be fairly successful in retail analytics industry, in the initial years of inception. With the passage of time however, the need for a more efficient, practiced methodology arose in retail analytics market, which resulted in the genesis of an explanatory business model. This type of analytics gives an extended explanation of data – inventory requirement, store requirements, consumer demand, and product trends -in other words, this type of analytics identifies trends that may have a sizable impact, which is a godsend in retail analytics market.
What can be deduced from this transformative trend is that the retail sector has been on the lookout for novel technologies to forge a connection with consumers. In order to be a part of this ever-changing spectrum, it is essential for retailers to bring about a change in their outlook to create value. This modified school of thought is certain to usher in a unique speculation of sorts for retail analytics market giants, who have been bending over backwards to codify a new set of advanced solutions for the retail sector. Inadvertently, it is expected that their efforts will bear fruit, and retail analytics market will establish new frontiers of growth in the years ahead.
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.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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