Cloud Retail Market Reach USD 216.2 Billion by 2032, Growing at 18.3% CAGR

According to a new report published by Allied Market Research, titled, "Cloud Retail Market Reach USD 216.2 Billion by 2032, Growing at 18.3% CAGR". The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The cloud retail market was valued at $40.8 billion in 2022, and is estimated to reach $216.2 billion by 2032, growing at a CAGR of 18.3% from 2023 to 2032.

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Cloud retail refers to the part of the retail industry that involves cloud computing technologies and services that adopt and use them to enhance aspects of retail operations. Cloud retail allows retailers to leverage the benefits of cloud-based solutions to improve efficiency, scalability, data management, customer experience, and overall business agility.

Multi-cloud deployments have become prevalent in retail as businesses seek the benefits of using multiple cloud service companies. The retail industry has particular needs, along with the need for flexible, robust, and stable IT infrastructure to guide brick-and-mortar operations online. Multi-cloud environments permit vendors to optimize their IT infrastructure to fulfil their unique needs and reduce the hazard of downtime, information loss, and safety breaches.

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The cloud retail market is segmented on the basis of solution, deployment model, enterprise size, service model, and region. On the basis of solution, the market is categorized into supply chain management, customer management, workforce management, reporting and analytics, data security, and others. On the basis of deployment model, the market is divided into public cloud, private cloud, and hybrid cloud. On the basis enterprise size, the market is bifurcated into large enterprises and small and medium-sized enterprises. On the basis of service model, it is divided into software as a service (SaaS), platform as service (PaaS), and infrastructure as a service (IaaS). On the basis of region, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of service model, the software as a service (SaaS) segment attained the highest cloud retail market size in 2022, because SaaS providers handle software updates, maintenance, and security patches, relieving retailers of the burden of managing these tasks. This ensures that retailers always have access to the latest features and enhancements without any downtime or disruption.

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By Region, North America attained the highest cloud retail market share in 2022. This is mainly due to the adoption of cloud-based solutions in the retail industry, in developed countries such as the U.S. and Canada. Furthermore, in the U.S. there is increasing investment for new technology and mobile technology. Moreover, growth of e-commerce industry in U.S is led by Amazon, which is anticipated to play major role in the adoption of cloud solutions.

Key players profiled in industry include Amazon Web Services, Inc., SAP SE, Oracle Corporation, Fujitsu, Google LLC, Microsoft Corporation, Cisco Systems, Inc., EPICOR SOFTWARE CORPORATION, IBM Corporation, Infor Inc.. Market players have adopted various strategies, such as product launches, collaboration & partnership, joint ventures, and acquisition to expand their foothold in the industry.

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Key Findings of the Study

● By type, the software as a service (SaaS) segment accounted for the largest cloud computing services market share in 2022.
● Based on enterprise size, the large enterprise segment accounted for the largest cloud computing services market share in 2022.
● Depending on end-use, the BFSI sector accounted for the largest cloud computing services market share in 2022.
● Region wise, North America generated the highest revenue in 2022.

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