Big Data Analytics in Retail Market is Predicted to Expand at a Promising CAGR of 20.1% over the forecast period, till 2029 | Size & Research Report

The Big Data Analytics in Retail Market is expanding at a compound annual growth rate of 20.1% during the forecast period, till 2029.

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The factors driving the growth of Big Data Analytics in Retail Market includes rising penetration of smartphones and internet services, increasing focus by major corporations on enhancing customer's experience, changes in consumer's purchasing patterns and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT) by major companies, rise in the launch of innovative products and commercialization of 5G technology, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, rapid urbanization, rising disposable incomes and growing population growth rates, are further contributing towards the expansion of the Big Data Analytics in Retail Market size.

However, growth of the Big Data Analytics in Retail Market is hindered due to high cost of big data solutions.

The major players operating in the Big Data Analytics in Retail Market are QlikTech International AB, Teradata Corporation, SAP SE, Salesforce.com, Inc., Oracle Corporation, International Business Machines Corporation, Tableau Software LLC, Microsoft Corporation, SAS Institute Inc. and Adobe, Inc. among others.

Based on Application, the Merchandising and Supply Chain Analytics segment is predicted to grow at a faster CAGR during the forecast period

Big data analysis solutions help in tracking and tracing product flow in real-time and aids managing supply chain and product distribution, are some of the factors responsible for the segment's growth.

Based on Business Type, the Small and Medium Enterprises segment is projected to robust CAGR over the forecast period

Big Data solution helps SMEs in forecasting and making decisions with help of market data, increasing number of customer interactions, rise in the volumes of data generated worldwide, are propelling growth of the segment.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

Presence of the leading players such as Oracle Corporation, Salesforce.com, Inc., and Microsoft Corporation, increasing penetration of smartphones across United States and Canada, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

Key Development

In 2019, NPC International (NPC), one of the biggest franchise Pizza Hut and Wendy's, has implemented SAP SuccessFactors solutions across human capital management (HCM) and SAP S/4HANA Cloud for enterprise resource planning (ERP).

Market Segmentation

Segmentation by Application

Merchandising and Supply Chain Analytics
Social Media Analytics
Customer Analytics
Operational Intelligence
Others

Segmentation by Business Type

Small and Medium Enterprises
Large-Scale Organizations

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.