03-14-2019 08:59 PM CET - IT, New Media & Software

Growth at CAGR of 20.61% in the Retail Cloud Market over the forecast period of (2018-2023)| Major Players- CISCO SYSTEMS, INC., ORACLE CORPORATION, SAP SE, INTERNATIONAL BUSINESS MACHINES CORPORATION, MICROSOFT CORPORATION, and FUJITSU LIMITED, amongst o

Press release from: Market Prognosis

Market Analysis:

Asia-Pacific to Register the Fastest Growth
The growing trend toward cloud-based solutions has also been giving rise to the growth of the retail cloud market in the region. The various factors contributing to this growth are, the increasing adoption of digital business strategies, organizations shift toward cloud-based solutions and services and preference of enterprises to personalize the in-store experiences of consumers to provide them a better and more interactive shopping experience.

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The retail industry is undergoing tremendous change, and the business environment has become a truly multi-channel world. The increased volume of data that needs to be processed, to make crucial decisions, especially in deducing and utilizing the marketing and merchandising analytics has prompted the demand of cloud in the retail market. Increasing adoption of smartphones and shift toward omni-channel experience are a few factors driving the retail cloud market, while the high cost of deployment is hindering the market growth. Software as a Service (SaaS) computing model is serving as one of the attractive cloud solutions for the companies looking to meet their diverse logistic needs and overcome economic challenges.

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Market Segments:
Global Retail Cloud Market is segmented by:
1. Type of Solution: Supply Chain Management, Workforce Management, Customer Management, Reporting & Analytics, Data Security, Omni-channel, Marketing & Merchandising, Others
2. Type of Model: Infrastructure as a Service, Platform as a Service, Software as a Service
3. Type of Deployment: Public Cloud, Private Cloud, Hybrid Cloud
4. Size of Organization: Small & Medium Enterprises (SMEs), Large Enterprises
5. Geography : North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
•October 2017- SAP SE updated EIM portfolio to help customers better manage and use their data for digital transformation, cloud, Big Data, the IoT, and data protection and privacy.
•July 2017 - Infor expanded ERP into the Extended Supply Chain. Infor is now able to connect the core applications of an enterprise with its logistics, supplier, and finance networks, increasing network-wide visibility, collaboration, efficiency, and responsiveness, making an enterprise more agile and competitive.

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