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Retail Analytics Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032
Retail Analytics Market
The Business Research Company's Retail Analytics Global Market Report 2023 identifies digitalizing to enhance the customer experience and retail operations as the major driver for the retail analytics market's growth in the forecast period. Digitalization is the process of transforming a business model using digital technologies to create new prospects for value creation and income generation. Regardless of the channel or location, digital transformation gives businesses the chance to connect with contemporary customers and fulfil their expectations for a smooth customer experience.
The global retail analytics market size is expected to grow from $5.51 billion in 2022 to $6.95 billion in 2023 at a compound annual growth rate (CAGR) of 26.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the retail analytics market is expected to grow to $16.60 billion in 2027 at a CAGR of 24.3%.
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Major competitors in the retail analytics market are Microsoft Corporation, 1010data Inc., FLIR Systems Inc., HCL Technologies Limited, IBM Corporation, Oracle Corporation, QlikTech International AB., Adobe Inc., Altair Engineering Inc., Bedrock Analytics Corporation, BeMyEye Holdings Ltd.
A key trend in the retail analytics market includes technological advancement. Major companies operating in the retail analytics market are developing innovative analytics platforms for retailers using advanced technology such as artificial intelligence (AI), internet of things (IoT) devices, augmented and virtual reality, chatbots, and others to sustain their position in the market. For instance, in August 2021, Crossmark, a US-based retail merchandising services provider, launched an accelerator, a cutting-edge data analysis platform for CPG sales and marketing activities. The platform is designed to evolve as new data sources, and machine learning (AI) capabilities are added. The custom platform, created in collaboration with leading technology firms with best-in-class analytics horsepower to deliver intuitive visualization of analytical tasks critical for smarter selling and faster growth.
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https://www.thebusinessresearchcompany.com/report/retail-analytics-global-market-report
The retail analytics market is segmented -
• By Component: Solutions, Services
• By Function: Customer Management, Merchandising, Store Operations, Supply Chain, Strategy And Planning
• By Deployment Model: On-Premise, Cloud
• By End User: Offline, Online
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the retail analytics market.
The Business Research Company's "Global Retail Analytics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Retail Analytics Market Include:
1. Executive Summary
2. Retail Analytics Market Characteristics
3. Retail Analytics Market Trends And Strategies
4. Retail Analytics Market - Macro Economic Scenario
5. Retail Analytics Market Size And Growth
……
26. Africa Retail Analytics Market
27. Retail Analytics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Retail Analytics Market
29. Retail Analytics Market Future Outlook and Potential Analysis
30. Appendix
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