Big Data Analytics in Retail Market to grow from market value of USD 2.85 billion in 2017 to USD 9.01 billion by the end of 2023 | Dominant Vendors - SAP SE, ORACLE CORPORATION, ZOHO CORPORATION, IBM CORPORATION, RETAIL NEXT INC., ALTERYX INC., TABLEAU SO

Market Analysis:

Asia-Pacific to Witness Highest Growth Rate
The presence of a robust retail industry setup with rapidly prospering economies, and boasting of the largest consumer base, as compared to the Rest of the World, the market for analytics finds immense potential for deployment in the region.

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Big data analytics has gradually emerged to be the prominent collective phenomenon in the industry, and analytics tools enable key stakeholders to translate hordes of consumer data into actionable insights. More than ever, retailers are now taking advantage of their in-store connected working environment investments to empower distribution associates and even cashiers and other staff with real-time analytics. Moreover, big data analytics provides an additional benefit to retailers, by enabling them to devise and test their strategies before implementation. Even consumers have an advantage of getting product insights, thereby, improving their decision process. The trend is revolutionizing the retail market. Merchandising and supply chain analytics segment may account for a significant share in the market.

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Market Segments:
Big Data Analytics in Retail Market is segmented by:
1. Application: Merchandising & Supply Chain Analytics, Social Media Analytics, Customer Analytics, Operational Intelligence, Others
2. Business Type: Small & Medium Enterprises, Large-scale Organizations
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• May 2017 - SAP SE released u2018SAP Anywhere’, which is a cloud-based, mobile-friendly solution, specifically designed for businesses with less than USD 10 million in sales. It enables small businesses to sell wholesale or retail, B2B or B2C, and integrates with both, Amazon and eBay sales platforms.

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