Retail Analytics Market worth USD 5.1 Billion USD by 2020
Browse 71 market data tables and 49 figures spread through 113 pages and in-depth TOC on “Retail Analytics Market - Global Forecast and Analysis to 2020”
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The retail analytics market size is estimated to grow from USD 2.2 Billion in 2015 to USD 5.1 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 18.9% from 2015 to 2020. Retail analytics solutions help retailers gain useful insights that can help them in making decisions from offers to the on-to-consumers to displaying the right product at right place at the shelf. These analytical solutions collect data from several data sources, integrate it, and further present it in a structured format, which enhances the data visibility and analytical capabilities. The retail analytics market is expected to gain traction in the next five years due to growth in digital data.
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Merchandising and in-store analytics solutions are expected to gain maximum traction during the forecast period
The retail industry has evolved significantly in the recent years, in terms of infrastructure, utility, and technological advancements. Demand for the use of high-end technologies, such as the big data analytics has increased mainly to provide better customer experience. Furthermore, prevalent surge in in-store analytics solutions and services is driving the growth of the retail analytics market. In-store analytics solutions are becoming an innate part of today’s digital marketing and operational strategies as they help in analyzing numerous areas of business such as marketing, operations, merchandising, fraud detection, and loss prevention.
Increasing demand for customized retail analytics solutions is stimulating the growth in the emerging economies of APAC and MEA. North America is expected to have the largest market share, however MEA will grow with the highest CAGR from 2015 to 2020, closely followed by APAC. The major vendors in the retail analytics market include IBM, Oracle, SAP, SAS, Microsoft, Tableau, Angoss, Information Builders, Adobe, and Qlik.
Key vendors in the retail analytics ecosystem were identified and studied individually, to understand the solution/ software offerings and features, business models, pricing models, and their respective customer base. This data was collated and further scrutinized based upon individual company’s revenues, contributions from various regions/ countries, industries, and business segments.
The scope of the report covers detailed information regarding the major factors influencing the growth of the retail analytics market such as drivers, restraints, challenges and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers and acquisitions, partnerships, agreements, collaborations, and recent developments associated with the retail analytics market.
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