Retail Analytics Market Worth USD 25.67 Bn by 2029 Trends, Revenue, Supply & Demand, Market Share, Drivers, Consumption, Growth Rate, Restraint, Manufacturers

December 07 08:05 2022
Retail Analytics Market Worth USD 25.67 Bn by 2029 Trends, Revenue, Supply & Demand, Market Share, Drivers, Consumption, Growth Rate, Restraint, Manufacturers
Retail Analytics Market
The Retail Analytics Market size was valued at USD 6.15 Bn. in 2021 and the total revenue is expected to grow by 19.5% from 2022 to 2029, reaching nearly 25.67 Bn.

Pune, 6, Dec 2022: Maximize Market research has published a market intelligence and industry analysis report on Retail Analytics Market. The global Retail Analytics Market was valued at USD 6.15 billion in 2021, and is expected to be worth USD 25.67 billion by 2029, growing at a CAGR of 19.5% during the forecast period. 

Retail Analytics Market Scope and Research Methodology

The Maximize Market Research Industry Profiles are based on comprehensive primary and secondary research that has been condensed, assessed, and cross-checked before being presented in a consistent and user-friendly way. 250,000+ industry interviews and consumer surveys are used to compile a review of in-house datasets, which is supplemented by research conducted by industry professionals using very complex modelling and forecasting technology. The internal databases of MMR serve as the foundation for all industry profiles. MMR also maintains extensive in-house databases of news, analyst commentary, business profiles, and macroeconomic and demographic data, which enables MMR’s researchers to present an accurate market picture. Market definitions are developed in such a way that they may be compared across nations. The parameters of each definition are extensively examined at the start of the research process to ensure they fit the demands of both the market and MMR’s clients.

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Retail Analytics Market Overview

Retail analytics is the practise of providing analytical data on inventory levels, sales, consumer demand, and supply chain activity. Combining data from many areas with scope and improvement requirements assists firms in finding customer insights such as new trends and shifting preferences. Retail analytics is one of the most effective strategies for sustaining procurement levels and empowering businesses by delivering a quick and efficient decision-making process. Almost every part of a retail company relies significantly on analytics, from sales and marketing to inventory management and operations.

Retail Analytics Market Dynamics

One of the most significant developments in the retail business is the rising trend of omnichannel retailing. As a result, businesses are shifting away from traditional brick-and-mortar establishments and instead relying on online marketplaces to advertise their products. This trend has been especially visible in the fashion sector.

As a consequence of altering consumer expectations and increased competition among retailers for client loyalty, businesses are using retail analytics solutions that improve the customer experience and keep clients engaged with the firm for a longer amount of time. The increasing usage of customer relationship management (CRM) solutions in the business clearly illustrates the growing relevance of improving client experiences.

Retail Analytics Market Regional Insights

North America dominated the market with highest market share in 2021. The United States is one of the most influential markets since it is a technological early adopter, and significant corporations there invest heavily in various technologies to remain competitive. Many large corporations are investing more money in developing cutting-edge smart shops, which are expected to boost market growth in this region. Amazon, for example, has begun to establish physical Amazon Go food and convenience stores around the United States.

During the forecast period, the Asia Pacific region is expected to increase rapidly. The Asia Pacific market had the second-largest revenue share in 2021 due to a number of factors, including the existence of numerous developed and emerging economies. It provides significant prospects for both technological improvement and retail store growth. China, India, and Japan, in particular, are focused on data management to allow data-driven business choices and improve retail operations.

Retail Analytics Market Segmentation

By Type

  • Software
  • Services
  • Training & Consulting
  • Integration and Deployment
  • Managed Services

By Deployment

  • On-premise
  • Cloud

By Enterprise Size

  • SMEs
  • Large Enterprises

By Application

  • Customer Management
  • Merchandising
  • In-Store Operations
  • Supply Chain
  • Strategy & Planning

Retail Analytics Market Key Competitors: 

  • Microsoft Corporation
  • MicroStrategy Incorporated
  • Oracle Corporation
  • QlikTech International AB.
  • Roamler B.V.
  • Manthan
  • Inc.
  • SAP SE
  • SAS Institute Inc.
  • Teradata Corporation
  • TIBCO Software Inc.
  • TopMission
  • 1010dataInc
  • Adobe Inc
  • Altair Engineering Inc.
  • Bedrock Analytics Corporation
  • BeMyEye Holdings Ltd.
  • Clickworker GmbH
  • Field Agent Inc.

Key questions answered in the Retail Analytics Market are: 

  • What are the technological innovations in retail?
  • What are the factors driving the growth of the Retail Analytics Market? 
  • How COVID-19 affected the growth of the Retail Analytics Market? 
  • What is the growth rate of the Retail Analytics Market during the forecast period? 
  • What are the trends of the Asia-Pacific region in the Retail Analytics Market?
  • Who are the market leaders in Retail Analytics in North America region?
  • Which enterprise size led the Retail Analytics Market in 2021?
  • Who are the key players in the Retail Analytics Market?
  • What are the factors restraining the growth of the Retail Analytics Market? 
  • Which region held the largest market share in Retail Analytics Market? 

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Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Type, Deployment, Enterprise Size, Application and Region 
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Procurement-as-a-Service Market: The Procurement-as-a-Service Market is expected to reach USD 5.30 billion by 2029 at a CAGR of 6.5 percent during the forecast period. The Procurement-as-a-Service Market growth is expected to be driven by adoption of cognitive procurement technologies and growth of end-user industry across the developing economies.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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