Retail Analytics Market : Eminent Players – 1010data, Inc., Adobe Inc., ANGOSS Software Corporation, Bedrock Analytics Corporation, FLIR Systems, Inc., HCL Technologies Limited, IBM Corporation, Information Builders, Inc., Microsoft Corporation, MicroSt

How will constant technological advancements supplement retail analytics market trends?

The retail analytics market is poised to observe lucrative growth due to burgeoning proliferation of big data and cloud in the retail sector. Nowadays, large brands and retailers are actively employing retail analytics to understand their consumer’s buying patterns and for deriving meaningful data insights. In a bid to offer accurate analytics, developers are incorporating latest technological advancements in these solutions to help businesses effectively identify and target potential customers.

This could massively benefit prominent retailers as they leverage big data to streamline their merchandising strategies. Additionally, factors like rapid adoption of online shopping and e-commerce platforms for purchasing mundane items and escalating demand for data-intensive solutions could sway retailers to implement retail analytics solutions into their businesses.

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Meanwhile, the rapidly changing consumer shopping habits and rampant growth of organized retail sectors could also boost the demand for retail analytics. As a result of these growth prospects, Global Market Insights, Inc., estimates that the retail analytics market size could exceed USD 20 billion by the year 2026.

How will customer management service benefit retail analytics market outlook?

Effective customer management plays a vital role in enhancing a retailer’s consumer base. Increasing focus towards customer profiling to attain better ad targeting and customer loyalty could foster the growth of customer management services in retail analytics market, helping record a compound annual growth rate of more than 20% by 2026.

Customer management solutions allow retailers to obtain actionable insights from consumer data while helping them to accordingly design new strategies to strengthen their customer base through customized & highly relevant offers. Taking March 2018 for instance, Nokia unveiled a new AI-based customer management analytics platform
that supported experience in index functionality.

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This helped retailers to address their customer’s grievances and issues through real-time query resolution and automated recommendations.

Why is Europe emerging as an ideal business landscape for retail analytics industry growth?

Surging investments in retail AI coupled with rapid digitalization is fueling the deployment of retail analytic solutions in Europe. Forecasters claim that Europe retail analytics market could monitor more than 20% CAGR by 2026. Factors like evolving customer preferences, inconsistency in supply chains, and increasing retail shrinkage could supplement regional business growth over the forecasted timeframe.

Besides, European retailers are also harnessing latest technological innovation and are often open to exploring new analytical tools to strengthen their business abilities. Citing an instance, back in August 2018, Symphony Retail AI joined forces with Globus, a German hypermarket retailer, to improve its user’s online ordering experience. This, in turn, allowed the firm to curb the product delivery time and enhance its multichannel logistics processes.

Which growth strategies are retail analytics firms commonly adopting?

In a bid to ascertain significant market share, retail analytics companies are heavily adopting various growth strategies like new product launches. Companies are planning to venture into new alliances to supplement their long-standing partner networks.

As a matter of fact, vendors are also planning to penetrate new untapped markets in emerging economies to enhance their global presence. Recently, in January 2020, the U.S. based digital merchandising and retail analytics firm, First Insights Inc., diversified its technology platform by introducing the Voice of Customer Analytics.

Report Content

Chapter 1. Methodology & Scope

1.1. Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope

1.1.5. Definitions

1.1.6. Methodology & forecast parameters

1.2. Data Sources

1.2.1. Secondary

1.2.1.1. Paid sources

1.2.1.2. Public sources

1.2.2. Primary

Chapter 2. Executive Summary

2.1. Retail analytics industry 360º synopsis, 2015 - 2026

2.2. Business trends

2.3. Regional trends

2.4. Function trends

2.5. Solution trends

2.6. Enterprise size trends

2.7. Deployment model trends

Chapter 3. Retail Analytics Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 – 2026

3.3. Industry ecosystem analysis

3.3.1. Vendor matrix

3.4. Technology & innovation landscape

3.4.1. Advanced Analytics

3.4.2. Transactional

3.4.3. Collaborative

3.4.4. Trade Promotion Optimization (TPO)

3.4.5. Optimization & collaboration

3.4.6. Single photon technology

3.5. Retail industry outlook

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.5.4. Latin America

3.5.5. Middle East & Africa

3.6. Regulatory landscape

3.6.1. Standards on Privacy and Web Analytics (Canada)

3.6.2. Health Insurance Portability and Accountability Act (HIPAA) of 1996 (U.S.)

3.6.3. General Data Protection Regulation (EU)

3.6.4. Exception of Text & Data Mining (TDM) in Copyright in Digital Single Market (DSM Draft Directive - EU)

3.6.5. Information Security Technology- Personal Information Security Specification GB/T 35273-2017 (China)

3.6.6. The General Data Protection Law (Brazil)

3.7. Industry impact forces

3.7.1. Growth drivers

3.7.1.1. Growing e-commerce industry in China and India

3.7.1.2. Increasing penetration of big data in the retail industry in the U.S.

3.7.1.3. Growing proliferation of smartphones in Asia Pacific

3.7.1.4. Increasing competition among retailers and increasing need for differentiation in North America

3.7.1.5. New generation of highly informed and demanding customers in Europe

3.7.1.6. Growing need for analytics maturity in Asia Pacific

3.7.1.7. Growing adoption of e-commerce in Latin America

3.7.1.8. Expanding retail sector in Middle East & AfricaIndustry pitfalls & challenges

3.7.2. Industry pitfall & challenges

3.7.2.1. Lack of technical expertise

3.7.2.2. Data privacy concerns

3.8. Growth potential analysis

3.9. Porter’s analysis

3.10. Competitive Landscape, 2019

3.10.1. Strategy dashboard

3.11. PESTEL analysis

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.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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