Steady Expansion Forecast for Retail Intelligence Software Market, Projected to Reach $17.57 Billion by 2029

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What Will the Retail Intelligence Software Industry Market Size Be by 2025?
The market size for retail intelligence software has experienced swift expansion over the past few years. The projection is that it will rise from $8.31 billion in 2024 to $9.77 billion in 2025, emphasizing a compound annual growth rate (CAGR) of 17.5%. Factors responsible for the growth in the historical phase include a surge in e-commerce activities, the exponential volume of big data, the growing consumer appeal for personalization, an increase in mobile technology adoption, and heightened competitive pressure.

What's the Long-Term Growth Forecast for the Retail Intelligence Software Market Size Through 2029?
The market for retail intelligence software is poised for significant expansion in the coming years, expected to reach a value of $17.57 billion in 2029, with an annual growth rate of 15.8%. This upward trend during the forecast period is due to several factors such as the surge in the usage of artificial intelligence, an increasingly prevailing need for real-time data processing, the growing significance of omnichannel approaches, the widespread impact of social commerce, and heightened attention to customer privacy. The forecast period will also see prominent trends including AI incorporation, IoT device integration, blockchain usage, product innovation, and tech-progress.

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What Are the Key Growth Drivers Fueling the Retail Intelligence Software Market Expansion?
The growth of the retail intelligence software market is anticipated to be fueled by the rising e-commerce activity. This refers to transactions of goods and services conducted over the internet or other electronic platforms. The adoption of e-commerce is increasing due to several elements such as growing internet access, changes in consumer preferences towards online purchasing, convenience, and improvements in logistics and payment systems. Retail intelligence software supports e-commerce activity by collecting, examining, and interpreting data regarding customer behavior, sales performance, inventory handling, pricing tactics, and market movements. For example, in February 2024, the total retail e-commerce sales in the U.S. hit $1,831.4 billion in the last quarter of 2023, according to the United States Census Bureau, a governmental agency in the U.S. This indicated a 0.4% rise compared to the third quarter of 2023. As a result, the escalation in e-commerce activity is contributing to the expansion of the retail intelligence software market.

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What Are the Key Trends Driving Retail Intelligence Software Market Growth?
Leading businesses in the retail intelligence software market are leveraging advanced solutions incorporating IoT technology, including Bluetooth Low Energy (BLE) retail IoT protocols, to maintain their competitive advantage. The BLE-based retail IoT protocol signifies a standardized communication model tailor-made for IoT devices deployed in retail spaces. For example, in December 2023, VusionGroup--a retail technology firm from France--unveiled VusionOX, an innovative BLE-based protocol intended to expedite the digital transformation of brick-and-mortar commerce. This state-of-the-art connectivity solution effortlessly syncs retail IoT devices with products and consumers, fostering a cohesive retail atmosphere. The integration of VusionOX and VusionCloud facilitates precise geolocation, custom in-store navigation, and guided fulfilment, fostering meaningful shopper engagement. Furthermore, it supports constant over-the-air feature deployment and boosts battery lifespan, aiding sustainability initiatives.

How Is the Retail Intelligence Software Market Segmented?
The retail intelligence softwaremarket covered in this report is segmented -

1) By Type: Cloud Based, On Premises
2) By Sales Channel: Online, Offline
3) By Application: Large Enterprises, Small And Medium-Sized Enterprises
4) By End User: Grocery Stores, Convenience Stores, Apparel And Footwear, Mass Merchant, Specialty Retailers, E-Commerce, Other End Users

Subsegments:
1) By Cloud-Based:Public Cloud, Private Cloud, Hybrid Cloud
2) By On-Premises:Managed Services, Self-Hosted

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Which Companies Are Leading the Charge in Retail Intelligence Software Market Innovation?
Major companies operating in the retail intelligence software market report are Supplypike LLC; Rakuten Group; SPS Commerce Inc.; Numerator; Kinaxis Inc.; Quotient Technology Inc.; Trax Retail LTD; AFS Technologies Inc.; ThoughtSpot Inc.; Sensormatic Solutions; Wiser Solutions Inc.; Retail Solutions Inc.; Mi9 Retail; DataWeave; Upstream Commerce; ShopperTrak; Premise Data Corporation; TC Group Solutions; Dor Technologies; Intelligence Node; Springboard; Glew.io; Stackline; Omnilytics; Streetspotr GmbH

Which Regions Are Leading the Global Retail Intelligence Software Market in Revenue?
North America was the largest region in the retail intelligence software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail intelligence software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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