A recent report published by
Infinium Global Research on the retail analytics market provides an in-depth
analysis of segments and sub-segments in the global as well as regional retail
analytics market. The study also highlights the impact of drivers, restraints,
and macro indicators on the global and regional retail analytics market over
the short term as well as long term. The report is a comprehensive presentation
of trends, forecast and dollar values of the global retail analytics market.
According to the report, the global retail analytics market is projected to
grow at a CAGR of 19.2% over the forecast period of 2019-2025.
Retail analytics allows retailers
to make smarter decisions and it helps to manage business more effectively and
efficiently. It helps to understand crucial data for business regarding
inventory, sales, supply chain activities, and more. The analytics on demand
and supply data is used for maintaining the procurement level and taking
The rapid development of
technologies such as artificial intelligence, machine learning, and augmented
reality is a major factor driving the growth of the retail analytics market.
Machine learning collects data from customers and helps retailers to check and
monitor the prices of competitors. IKEA launched a new augmented reality
application that allows users to test IKES’a products in real-time with Apple
iOS 11’s ARKit technology. The Internet is a key pillar of the modern
information society. The global internet penetration rate is 57% which
contributes to the growth of the retail analytics market. The rising use of
social media worldwide augments the market’s growth. In 2018, around 2.65
billion people were using social media globally. The proliferation of
smartphones and the digital revolution are reasons for the rising demand of the
retail analytics market. The increasing use of retail analytics for enhanced
profitability, the surge in the rate of return with minimum investment, and
optimized customer relationships are likely to augment the market growth. In
addition, changing consumer behavior with rising preference for personalized
and tailored shopping supplements the growth of the retail analytics market. On
the other side, the lack of skilled professionals in retail analytics hampers
the growth of the retail analytics market. Moreover, the growing advancement of
cloud-based analytics creates several opportunities for the market.
North America is anticipated to
have a dominant share in the global retail analytics market due to the growing
adoption of e-commerce services and an increasing number of retail chains.
Europe is expected to grow in the global retail analytics market with a healthy
CAGR over the forecast period. The presence of large players in Europe
stimulates the growth of the retail analytics market in Europe. On the other
hand, Asia-Pacific region has the fastest growth in this market owing to the
growing smartphone adoption and infrastructure development. Four of the top
seven markets globally related to smartphone adoption are in the Asia-Pacific
region which are Singapore, South Korea, Macao, and Australia.
The report on the global retail
analytics market covers segments such as component, deployment model, and
application. On the basis of component, the sub-markets include software, and
services. On the basis of the deployment model, the sub-markets include on-premises,
and on-demand. On the basis of application, the sub-markets include customer
management, merchandising analysis, pricing analysis, inventory analysis,
performance analysis, and other applications.
The report provides profiles of
the companies in the market such as Microsoft Corporation, Oracle Corporation,
SAS Institute, Inc., International Business Machines Corporation, SAP SE,
Fujitsu Ltd., Qlik Technologies Inc., Angoss Software Corporation,
MicroStrategy Inc., Information Builders Inc., and other companies.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of retail analytics market. Moreover, the study highlights current
market trends and provides forecast from 2019-2025. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.