Press release
Retail Analytics Market 2021 Reach Valued At $ 18.33 billion And Grow At A 17.7% CAGR Forecast To 2028 |With Top Companies: Microsoft Corporation, HCL Technologies Limited, FLIR Systems, Inc., IBM Corporation, Oracle Corporation.....
Retail Analytics Market 2021-2028New study report " Retail Analytics Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview-
The global retail analytics market size was USD 5.20 billion in 2020. The market is projected to grow from USD 5.84 billion in 2021 to USD 18.33 billion in 2028 at a CAGR of 17.7% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Retail Analytics Market, 2021-2028.”
According to our analysts, the increasing need to augment income generation, sales performance, classify consumer inclinations, and market trends are expected to fuel the market growth. The retail solutions improved with artificial intelligence (AI) can deliver smart perceptions, which can further augment the sales coupled with client experience.
For example, in May 2021, Walmart employed the RetailAI resolution in order to amplify the self-service shopping experience and by dropping its functioning charge. This is estimated to reinforce the retail analytics market growth during the forecast period.
Top Key Players in this market are:
Microsoft Corporation (Washington, United States)
HCL Technologies Limited (Uttar Pradesh, India)
FLIR Systems, Inc. (Oregon, United States)
IBM Corporation (New York, United States)
Oracle Corporation (Texas, United States)
SAP SE (Walldorf, Germany)
QlikTech International A.B. (Pennsylvania, United States)
Fractal Analytics Inc. (New York, United States)
Wipro Limited (Bangalore, India)
Nielsen Consumer LLC (Illinois, United States)
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Competitive Landscape-
Continuous Developments is the Key Strategy to Strengthen Company’s Position
The key players in the market are keen on integrating advanced technologies such as artificial intelligence, machine learning, cloud computing, blockchain, and more with the retail analytics solution. Through these advances, the vendors are aiming to offer dedicated analytics tools to upsurge the customer experience. The players are launching a new and innovative solution to build the dominant market position.
Segmentation-
Based on type, the retail analytics market is divided into software and services. On the basis of deployment type, the market is separated into on-premises and cloud. Based on the retail store type, the market is further classified into hypermarkets & supermarkets and retail chains. In terms of region, this market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
On the basis of functionality, the market is finally segregated into customer management, supply chain management, merchandising, strategy & planning, and in-store operations. Customer management is anticipated to attain the majority of the segment share during the mentioned timeframe. The shifting consumer demand is the crucial aspect resulting in enhanced trades and income.
Regional Insights-
North America to Dominate Backed by Usage of E-commerce Services by Companies
North America is projected to arise as a leading region in the global market during the forecast period. The prompt implementation of e-commerce services by various establishments across the region is expected to steer the market growth.
Asia Pacific is likely to observe outstanding growth in the market. The increasing online shopping and customer association is fuelling the acceptance of analytical gears in China, India, Singapore, Japan, and other Asian nations.
Europe is projected to attain substantial growth during the forecast period. The retailers from top countries such as Germany, France, Italy, and Spain are expected to propel the demand for retail analytics.
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Report Coverage-
The report provides an exhaustive study of the market segments and a comprehensive analysis of the market. A profound evaluation of the current market trends as well as the future opportunities are presented in the report. Additionally, it shares a thorough analysis of the regional insights and how they shape the market growth. The COVID-19 impacts have been added to the report to assist investors and business owners in understanding the threats in a professional manner. The report focuses on the key players and their remarkable strategies to stay in the top position in the market.
Table of Content:
Introduction
Key Takeaways
Market Dynamics
Competition Landscape
Global Retail Analytics Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Annexure / Appendix
Continue….
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Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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