Big Data Analytics in Retail Market Expected to Reach $17.85 Billion by 2027, Driven by Increased Adoption of Data-Driven Strategies

Increase in spending on big data analytics tools, surge in need to deliver personalized customer experience to increase sales, and rise in growth of the e-commerce sector drive the growth of the global big data analytics in retail market. However, issues in collecting and collating the data from disparate systems and challenges in capturing customer data restrain the growth to some extent. On the other hand, integration of new technologies such as IoT, AI and machine learning in big data analytics in retail and growing demand of predictive analytics in retail would create new opportunities in the coming years.

☛ Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/2786

COVID-19 scenario-

► During COVID-19 the demand for big data analytics in retail has been accelerated owing to the increasing trend of e-commerce platforms. In addition, the change in the buying behavior of the customers has further enhanced demand.

► On the other hand, the optimization of business continuity has increased the adoption of big data analytics in retail, during the lockdown.

Based on component, the software segment contributed to the largest market share in 2019, holding more than two-thirds of the global big data analytics in retail market, and is expected to continue to dominate in terms of revenue throughout the forecast period. The increase in need to improve personalization at a transformational scale by allowing retail companies to enhance customer experience and growing requirements to provide more customized recommendations to the customers drive the growth of the segment. However, the services segment is estimated to maintain the highest CAGR of 23.1% from 2020 to 2027. This is owing to its adoption to ensure effective functioning of software and platforms throughout the big data analysis process.

☛ For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/2786

Based on deployment, the on-premise segment accounted for around two-third of the global big data analytics in retail market in 2019, and is expected to continue its lead position throughout the forecast period. The use of on-premise data analytics in retail to ensure data security majorly drives the growth of the segment. However, the cloud segment would register the highest CAGR of 23.2% during the forecast period. Increase in adoption of big data analytics in retail has been witnessed for manufacturing of high-precision components. Less investment needs on hardware infrastructure, flexible plans from vendors according to enterprise usage, and greater scalability augment the growth of the segment.

Based on region, North America attributed to nearly two-fifths of the global big data analytics in retail market in 2019, and is expected to maintain its dominant share by 2027. Adoption of AI integrated big data analytics in retail software by the service providers, continuous advancements in technology, and presence of major number of big data analytics in retail vendors drive the market growth in this province. On the other hand, the Asia-Pacific region is estimated to portray the fastest CAGR of 23.5% from 2020 to 2027. The adoption of cloud-enabled big data analytics in retail software, increase in popularity of fast internet connectivity, ever growing smartphone penetration, and rising popularity of e-commerce companies are the major factor propel the growth in this region.

☛ Buy Now & Get Exclusive Discount On This Report: https://www.alliedmarketresearch.com/request-sample/big-data-analytics-in-retail-market/purchase-options

☛ Access the full summary at: https://www.alliedmarketresearch.com/big-data-analytics-in-retail-market

Leading market players-

► Qlik Technologies Inc.

► RetailNext

► SAP SE

► SAS institute

► Teradata

► Alteryx Inc.

► IBM

► Microsoft

► Microstrategy Inc.

► Oracle Corporation

☛ Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/2786

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

This release was published on openPR.