DUBLIN--(BUSINESS WIRE)--The "Retail Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global retail analytics market reached a value of US$ 6.1 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 18.2 Billion by 2027, exhibiting a CAGR of 19.98% during 2021-2027.
Companies Mentioned
- 1010data Inc. (Advance Publications Inc.)
- Adobe Inc.
- Altair Engineering Inc.
- Flir Systems Inc.
- Fujitsu Limited
- International Business Machines Corporation
- Information Builders Inc.
- Microsoft Corporation
- Microstrategy Incorporated
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Retail analytics is the process of providing analytical data on inventory levels, sales, consumer demand and supply chain movement. It helps companies to identify customer insights, such as emerging trends and changing preferences, by combining data from different areas with scope and need for improvement. Retail analytics has emerged as one of the most powerful tools to maintain procurement levels and empower businesses by enabling a quick and effective decision-making process.
As the coronavirus disease (COVID-19) pandemic continues to spread around the world, there has been a significant impact on consumer behavior, product demand and the availability of logistics services. Consequently, store owners are adopting retail analytics solutions to assess risks and create suitable re-opening strategies.
For instance, Tango, a US-based Integrated Workspace Management System firm, is enabling retailers to analyze how exposed their stores have been to the coronavirus during the lockdown using its retail location-visualization tool. Apart from this, with the growing e-commerce and retail industries, cloud-based retail analytics solutions are widely being deployed as they offer retailers the on-demand computing power to handle large volumes of data and deliver useful insights within a short timeframe.
Besides this, the emergence of big data and predictive analytical models has allowed merchants to predict future outcomes through data integration across apps, sensors, social media platforms and other channels. The leading companies in the retail industry are opting for advanced analytics solutions, which is positively impacting the market growth. For instance, Gap Inc., a global fashion retailer, has deployed the Retail Merchandising Foundation Cloud Service (RMFCS) offered by Oracle Corporation to simplify its store operations and increase customer satisfaction.
Key Questions Answered in This Report:
- How has the global retail analytics market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global retail analytics market?
- What are the key regional markets?
- What is the breakup of the market based on the function?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global retail analytics market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Retail Analytics Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Function
7 Market Breakup by Component
8 Market Breakup by Deployment Mode
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/d81xpo
