Retail analytics Market 2018 Driving Factors, Industry Analysis, Investment Feasibility and Trends

Retail analytics is the process of providing analytical data for supply chain management, merchandise intelligence, inventory management, cyber security, supply & demand processing, customer engagement, sales data modelling, and others. It helps in the process of decision-making, as it provides customer insights and scope for product marketing.

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Increasing adoption of new technologies is one of the major factors driving growth of the market

Rising adoption of new technologies such as big data, internet of things (IoT), and real-time analytics by various organizations to enhance business outcomes is driving growth of the retail analytics market.
Retail analytics collects data from big data, machine learning, and artificial intelligence and business process, thereby delivering accurate information to solve business issues. Retail analytics provides customer insights from the real data, which helps the retailers to understand customer behavior and develop a customer centric product.

Rising number of unstructured data is a major factor driving growth of retail analytics market.
Rising number of unstructured data is driving growth of the retail analytics market, owing to the increasing number of organizations and rising demand for structured data. For instance, according to the International Data Group, unstructured data is growing at the rate of around 62 percent per year and around 93 percent of all data is expected to be unstructured by 2022.
Global Retail Analytics Market: Regional Insights

North America is expected to hold a dominant position in the market over the forecasted period, owing to rising e-commerce sector. For instance, according to the U.S. Commerce Department analysis, in 2016, the sales from e-commerce was 41.6% and it increased up to 49.4% in 2017. Digitalization, rising disposable income, and rising adoption of IOT are some of the factors responsible for increasing the sales of the e-commerce sector.

Global Retail Analytics Market: Competitive Landscape

The key players operating in the global retail analytics market include IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Adobe Systems Incorporated, SAS Institute Inc., HCL Technologies Ltd., Cisco Systems Inc., MicroStrategy, Inc., and Tableau Software, Inc.

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Global Retail Analytics Market: Taxonomy

On the basis of component type, the global retail analytics market is segmented into:

• Software
• Services

On the basis of deployment model, the global retail analytics market is segmented into:

• On-Premises
• On-Demand

On the basis of application, the global retail analytics market is segmented into:

• Merchandising Analysis
• Customer Analysis
• Performance Analysis
• Inventory Analysis
• Others

On the basis of end user, the global retail analytics market is segmented into:

• Online
• Offline

On the basis of region, the global retail analytics market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa

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