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Retail Analytics Market - Fast-Moving Trends to Watch | Major Key Companies: - Adobe, HCL Technologies, IBM, Information Builders, Microsoft, MicroStrategy, Oracle, Qlik, Salesforce, SAP, SAS, Tableau Software, Teradata
Retail Analytics Market
Product penetration is augmented further by the advancements in big data analytics, which help businesses decipher enterprise big data and gain deeper insights into customer buying habits. Furthermore, the platform's ability to identify and target potential customers, analyze big data and create lucrative merchandising strategies, among others will add impetus to retail analytics market growth in the years ahead.
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The major manufacturers covered in this report: -
1. Adobe
2. HCL Technologies
3. IBM
4. Information Builders
5. Microsoft
6. MicroStrategy
7. Oracle
8. Qlik
9. Salesforce
10. SAP
11. SAS
12. Tableau Software
13. Teradata
Paradigm shift in consumer shopping behaviors alongside the proliferation of organized retail are expected to augment retail analytics market outlook considerably. In fact, the customer management segment is anticipated to depict an appreciable CAGR of over 20% through 2026. This growth is largely attributable to the intensifying focus on customer profiling by retailers to enhanced ad targeting and customer loyalty.
Based on deployment model, retail analytics market is segmented into on-premise and cloud. The cloud segment is set to exhibit a commendable growth rate of more than 30% through 2026, as a result of extensive integration of cloud solutions in retail operations. Cloud technologies possess high computing and storage power as well as scalability at economical costs, which is likely to drive retail analytics market growth over the projected timeline.
With regards to the solution spectrum, global retail analytics market is categorized into services and software. Of these, the services segment is poised to register a growth rate of over 25% CAGR through 2026. The integration & deployment subsegment is expected to witness significant growth over the estimated timeframe, owing to instances of retailers outsourcing operations related to data analytics to specialist service providers.
On the regional front, Europe retail analytics industry share is expected to record growth at a rate of over 20% through 2026, due to evolving customer preferences, supply chain inconsistencies, surging retail AI investments, etc. European retailers are extremely technologically savvy and show great propensity towards adopting novel analytical tools in order to expand their business outlook.
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To illustrate, Symphony Retail AI and German hypermarket chain Globus joined hands in August 2018, to improve their customers' online shopping experience. This alliance provided support to Globus's efforts to enhance its multichannel logistics process, in turn cutting down on product delivery times.
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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.
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