Retail Cloud Market growing demand 2017-2025 : Microsoft Corporation, Oracle Corporation, Infor, Inc., Cisco Systems, Inc., Epicor Software Corporation

Global Retail Could Market: Snapshot

Retail cloud is a multi-billion dollar market nowadays, thanks to the swift uptake of cloud-based solutions by savvy retailers of almost all sizes, worldwide. Cloud technology such as software as a service (SaaS) helps them to modernize their operations, provide better services to customers, and most importantly are cost effective as it does not require building customized programs for various processes.

Increasing preference for smartphones, rising popularity of omni-channel retail, and ease of use is said to catalyzing growth in the global market for retail cloud. With cloud technology, retailers can adjust to several conditions and attain real-time information. Data tracking has never been so easy, thanks to the advent of cloud in retail processes.

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At the forefront of driving demand in the global market for retail cloud are the SMEs. This is because cloud services accord them high degree of efficiency, ease of use, and most importantly, flexibility. With smartphones and tablets functioning as PoS systems these days, which are increasingly inching towards cloud, the global retail cloud market is expected to surge. Handling payments, inventory, and location information are some other functions cloud systems perform. All these benefits have helped the market flourish.

North America is a key region in the global market for retail cloud on account of being an early adopter of latest cutting-edge technologies. A copious number of astute retailers in the region, trying to increase customer engagement with personalization of their in-store experience, are also serving to boost the market. Asia Pacific is another lucrative market that is being powered by the fast expanding major economies of India and China that are home to a copious number of retailers resorting to cloud-based services.

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Global Retail Cloud Market: Overview

As the retail industry constantly strives to meet the ever-expanding needs of consumers, the global retail cloud market will undergo substantial expansion over the next few years. The towering popularity of social networking, the rapid expansion of e-commerce, and ongoing technological advancements are dictating changing consumer demands. Cloud computing enables retailers to keep pace with the transformations in the market scenarios, by providing accuracy, agility, and cost-efficient solutions. Therefore, the adoption of cloud services in retail have become crucial in the survival of several retailers.

Global Retail Cloud Market: Key Trends

Greater popularity of smartphones, increasing preference for omni-channel experience, and ease of use are the primary driving forces of the global retail cloud market. With cloud technology, retailers can adjust to several conditions and attain real-time information. Data tracking has never been so easy, thanks to the advent of cloud in retail processes.

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SMEs have been adopting cloud services to a considerable extent, as these services offer high efficiency, ease of use, and flexibility. As smartphones and tablets are now operating as PoS systems, which are gradually moving towards cloud, the global retail cloud market is expected to surge. Handling payments, inventory, and location information are some other functions cloud systems perform. All these advantages have stoked the growth of the market.

On the other hand, the market might face a major bottleneck due to data privacy and data security concerns. However, the rising demand from SMEs is expected to aid market expansion.

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