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Comprehensive Retail Analytics Software And Services Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
Retail Analytics Software And Services Market
The retail analytics software and services market has seen rapid growth in recent years. It will grow from $2.08 billion in 2024 to $2.45 billion in 2025, at a CAGR of 18.1%. This growth is driven by the expansion of e-commerce, the explosion of data, the demand for personalized experiences, heightened competition, supply chain optimization, and the rise of omnichannel retailing.
The retail analytics software and services market is expected to grow rapidly, reaching $4.71 billion in 2029, at a CAGR of 17.7%. Growth is attributed to the shift toward cloud-based solutions, the integration of AI and machine learning, the Internet of Things (IoT), augmented reality (AR) and virtual reality (VR), blockchain, and voice commerce. Trends include the adoption of AI, advanced analytics, predictive analytics, hyper-personalization, and unified commerce platforms.
What Is Stimulating Growth in the Retail Analytics Software And Services Market?
The expansion of the retail and e-commerce sectors is set to drive the growth of the retail analytics software and services market. The retail and e-commerce industries include businesses that sell goods and services directly to consumers through physical stores or online platforms. The growth of these sectors is driven by increasing consumer convenience, technological advancements, and seamless online shopping experiences. Retail analytics software and services help businesses optimize operations, enhance customer experiences, and boost sales through data-driven insights. For instance, in February 2024, the United States Census Bureau reported that total e-commerce sales in 2023 amounted to approximately $1,118.7 billion, reflecting a 7.6% increase from 2022. Additionally, total retail sales saw a 2.1% rise compared to the previous year, with e-commerce accounting for 15.4% of total sales in 2023, up from 14.7% in 2022. Hence, the growing retail and e-commerce sectors are fueling the retail analytics software and services market.
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Which Key Market Leaders Are Driving Retail Analytics Software And Services Industry Growth?
Major companies operating in the retail analytics software and services market report are Microsoft Corporation; International Business Machines Corporation; Oracle Corporation; SAP SE; Infosys Limited; Square Inc.; Wipro Limited; Dassault Systèmes SE; Shopify Inc.; The Sage Group plc; Lawson Software Inc.; Epicor Software Corporation; Zoho Corporation Pvt. Ltd.; Manhattan Associates Inc.; Lightspeed POS Inc.; Kinaxis Inc.; Retalix Ltd.; BluJay Solutions LLC; Retail Pro International LLC; Logility Inc.; Fishbowl Inventory LLC; Brightpearl Limited; Wasp Barcode Technologies LLC; Archon Systems Inc.; HighJump Software Inc.; Aldata Solutions; Ordoro Inc
What Are the Emerging Trends in the Retail Analytics Software And Services Industry?
Companies in the retail analytics software and services market are developing cutting-edge solutions, such as smart store analytics, to enhance retail operations. Smart Store Analytics is a data platform that helps retailers implement autonomous shopping technologies efficiently. For instance, in January 2023, AiFi Inc., a US-based software company, partnered with Microsoft Corporation to launch smart store analytics, a tracking system for cashier-less stores. This platform uses AiFi's computer vision algorithms to detect customer interactions with products and automatically process payments. Smart Store Analytics delivers insights into shopping behaviors, foot traffic, and product engagement without relying on facial recognition or biometric data.
What Are the Main Segments in the Retail Analytics Software And Services Market?
The retail analytics software and services market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Application: Merchandising Analysis, Pricing Analysis, Customer Analytics, Promotional Analysis And Planning, Yield Analysis, Inventory Analysis, Other Applications
3) By Distribution Channel: Online, Offline
4) By Organization Size: Large Enterprises, Small And Medium Enterprises
5) By Business Function: Finance, marketing And Sales, Human Resources, Operations
Subsegments:
1) By Solutions: Descriptive Analytics Solutions, Predictive Analytics Solutions, Prescriptive Analytics Solutions, Real-Time Analytics Solutions, Customer Analytics Solutions, Inventory And Supply Chain Analytics Solutions
2) By Services: Consulting Services, Integration And Implementation Services, Support And Maintenance Services, Training And Education Services
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Which Geographic Area Leads the Retail Analytics Software And Services Market?
North America was the largest region in the retail analytics software and services market in 2024. The regions covered in the retail analytics software and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Retail Analytics Software And Services Global Market Report?
- Market Size Analysis: Analyze the Retail Analytics Software And Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Retail Analytics Software And Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Retail Analytics Software And Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Retail Analytics Software And Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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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…
