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Retail Analytics Market 2024-2033: Production Analysis, Growth Strategy, Industry Insights And Major Players | Microsoft Corporation, HCL Technologies Limited, IBM Corporation, 1010data Inc., FLIR Systems Inc.
Retail Analytics Market
The Business Research Company presents an extensive market research report on the Retail Analytics Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The retail analytics market size has grown exponentially in recent years. It will grow from $6.99 billion in 2023 to $8.84 billion in 2024 at a compound annual growth rate (CAGR) of 26.4%. The growth in the historic period can be attributed to competition in the retail sector, focus on customer experience, adoption of loyalty programs, emergence of big data analytics, growth of e-commerce, demand for personalization..
The retail analytics market size is expected to see exponential growth in the next few years. It will grow to $20.29 billion in 2028 at a compound annual growth rate (CAGR) of 23.1%. The growth in the forecast period can be attributed to enhanced fraud detection, expansion of omnichannel strategies, real-time analytics, demand for sustainability analytics, privacy and compliance concerns, international expansion of retail chains.. Major trends in the forecast period include focus on customer experience analytics, omnichannel analytics for seamless integration, real-time analytics for instant decision-making, visual and image analytics, cloud-based analytics solutions, customer segmentation and targeted marketing, collaboration with analytics service providers..
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Key Market Players:
Major companies operating in the retail analytics market report are Microsoft Corporation, HCL Technologies Limited, IBM Corporation, 1010data Inc., FLIR Systems Inc., Radius Networks Inc., Manthan Software Services Pvt. Ltd., Wipro Limited, Capgemini SE, TIBCO Software Inc., Adobe Inc., Cisco Systems Inc., Amazon.com Inc., Teradata Corporation, MicroStrategy Incorporated, Tableau Software LLC, FICO, Fiserv, Inc., Verisk Analytics Inc., Nielsen Holdings plc, Experian plc, Mastercard Incorporated, Visa Inc., PayPal Holdings Inc., Square Inc., Shopify Inc., Facebook Inc., Dor Technologies Inc., True Fit Corporation, Orbital Insight Inc., Cuebiq Inc., Rubikloud Technologies Inc.
Market Drivers:
Digitalizing to enhance the customer experience and retail operations is expected to propel the retail analytics market. 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. For instance, in 2021, according to a survey conducted by BDO USA LLP, a US-based provider of assurance, tax, and financial advisory services, customer experience remained retail's top digital priority with 35% of members prioritizing improving customer experience, 30% on optimizing business processes and driving operational efficiencies across the supply chain, 15% on consolidating or upgrading legacy IT infrastructure, 11% on implementing change management for digital adoption in the workplace, and 9% on adopting a new business or revenue model. Therefore, digitalizing to enhance customer experience and retail operations is driving the growth of the retail analytics market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/retail-analytics-global-market-report
The retail analytics market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Function: Customer Management, Merchandising, Store Operations, Supply Chain, Strategy And Planning
3) By Deployment Model: On-Premise, Cloud
4) By End User: Offline, Online
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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Learning Objective
• To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the global Analytics as a service Market.
• To provide insights about factors affecting the market growth.
• To Analyze the Analytics as a service Market based on various factors- porters five force analysis, mega trend analysis, macroeconomic indicators etc.
• To provide historical and forecast revenue of the…
