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Big Data Analytics in Retail Market Size to Reach USD 17.85 Billion by 2027 at CAGR 20.4% - Valuates Reports
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Valuates Reports

Mar 24, 2021, 10:30 ET

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BANGALORE, India, March 24, 2021 /PRNewswire/ -- The Big Data Analytics in Retail Market is Segmented by Component (Software and Services), Deployment (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), and Application (Sales & Marketing Analytics, Supply Chain Operations Management, Merchandising Analytics, Customer Analytics, and Others). The report covers global opportunity analysis and industry forecast from 2020 to 2027. It is published on Valuates Reports in the Retail Trade Category.

The global big data analytics in retail market size was valued at USD 4.43 Billion in 2019 and is projected to reach USD 17.85 Billion by 2027, growing at a CAGR of 20.4% from 2020 to 2027.

Major factors driving the growth of big data analytics in retail market size are:

  • Driving decisions based on data in order to generate more value and rise in need to deliver personalized customer experience to increase sales.
  • Companies are spending on big data analytics tools to improve customer facing experiences, employee productivity, operational improvement, product innovation and more. It also improves marketing, price optimization, merchandising, and others.
  • Integration of new technologies such as IoT, AI, and machine learning in big data analytics in retail, and rise in demand for predictive analytics in retail.

View Report Details Before Purchasing: https://reports.valuates.com/market-reports/ALLI-Manu-1H34/big-data-analytics-in

TRENDS INFLUENCING BIG DATA ANALYTICS IN RETAIL MARKET 

An increase in spending on big data analytics tools is expected to drive big-data analytics in retail market size. Big data technologies are being increasingly adopted by retailers around the world in order to make data-driven decisions. Big data applications in the retail industry include consumer analytics, operational analytics, fraud & compliance and others.

Raise in the growth of the e-commerce sector is expected to increase the growth of big data analytics market size. Much of the growth for the e-commerce industry has been triggered by an increase in internet and smartphone penetration. Retailers can improve the performance of their online stores and generate more revenue using big data analytics in retail software. Retailers can improve product landing pages by using website analytics, clickstream data, and heatmap studies to ensure higher engagement and conversion rates.

The growing demand for predictive analytics in retail is expected to fuel the growth of big data analytics in retail market size. Predictive analytics in retail can help retailers extract valuable information from large amounts of data that can be used to provide accurate insights, enhance existing processes, and anticipate future customer buying patterns, among other things. It also aids in the development of a retail sales strategy and boosts the return on marketing investments.

Furthermore, due to COVID-19, the trend of preference for buying from e-commerce platforms over physical stores is accelerating. By using big data analytics in retail, enterprises will be able to analyze business continuity scenarios and formulate relevant business strategies as per the market trend.

Request a Sample Copy of the Report For Growth & Trends Analysis on Big Data Analytics in Retail Market : https://reports.valuates.com/request/sample/ALLI-Manu-1H34/Big_Data_Analytics_in_Retail_Industry

BIG DATA ANALYTICS IN RETAIL MARKET SHARE ANALYSIS

Based on the component, the software segment dominated the overall big data analytics in the retail market share in 2019. This is due to the benefits of big data analytics in retail solutions, which include providing business-critical insights into forecasting future trends based on historical data, customer behaviour insights, pricing analysis, supply chain management, and more.

Based on application, The supply chain operations management segment has the largest big data analytics in retail market share in 2019. However, due to the growing need to gain valuable insights into customer preferences, buying patterns, and behaviour, the customer analytics segment is expected to expand at the fastest rate during the forecast period.

In 2019, Because of high spending on big data analytics tools and early adoption of modern technologies such as IoT, AI, and more in this region, North America held the largest big data analytics in retail market share. Furthermore, the presence of key market vendors in North America is driving the big data analytics in retail market size in this region. However, during the forecast period, Asia-Pacific is expected to exhibit the highest CAGR of 23.5%.

Inquire for Regional Report : https://reports.valuates.com/request/regional/ALLI-Manu-1H34/Big_Data_Analytics_in_Retail_Industry

BIG DATA ANALYTICS IN RETAIL MARKET SEGMENTS

By Component   

  • Software
  • Services

By Deployment    

  • On-premise
  • Cloud

By Enterprise Size   

  • Large Enterprises
  • Small & Medium Enterprises (SMEs)

By Application

  • Sales and marketing analytics
  • Supply chain operations management
  • Merchandising analytics
  • Customer analytics
  • Others

Top Players in the Big Data Analytics in Retail Industry

  • Alteryx Inc.
  • IBM
  • Microsoft
  • Microstrategy Inc.
  • Oracle Corporation
  • Qlik Technologies Inc.
  • RetailNext
  • SAP SE
  • SAS institute
  • Teradata
  • Others

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SIMILAR REPORTS :

-        The Smart Retail market size was USD 14.250 Billion in 2020 and it is expected to reach USD 30.730 Billion by the end of 2026, with a CAGR of 13.7% during the forecast period 2020-2026.

-        The Global Retail Analytics Market size is expected to grow from USD 4,581.96 Million in 2019 to USD 9,372.60 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 12.66%

-        Image Recognition in Retail Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2021 to 2026. The Report contains segmentation By Type (On-Premises, Cloud Based), By Application (Security and Surveillance, Vision Analytics, Marketing and Advertising, Others) and Regional Opportunity Analysis and Industry Forecast.

-        The augmented reality in retail market size is projected to reach USD 4612.7 Million by 2026, from USD 1199 Million in 2019, at a CAGR of 20.0% during the forecast period 2021-2026.

-        The IoT in Retail market size is projected to reach USD 40340 Million by 2026, from USD 20280 Million in 2019, at a CAGR of 10.2% during the forecast period 2021-2026.

-        The Blockchain in Retail market size is projected to reach USD 1644.4 Million by 2027, from USD 123.1 Million in 2020, at a CAGR of 44.5% during 2021-2027.

-        The U.S. retail recon software market size was valued at USD 108.75 Million in 2019, and is projected to reach USD 264.37 Million by 2027, growing at a CAGR of 11.8% from 2020 to 2027

-        The global Artificial Intelligence in Retail market size is projected to reach USD 3853 Million by 2026, from USD 1076.2 Million in 2019, at a CAGR of 19.8% during 2021-2026.

-        In 2019, the global Smart Labels market size was USD 6894.5 Million and it is expected to reach USD 19700 Million by the end of 2026, with a CAGR of 16.0% during 2021-2026.

-        Digital Transformation in Retail Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2021 to 2026. The Report contains segmentation By Type (Mobile, Website), By Application (Consumer Electronics, Media & Entertainment, Apparel, Food & Beverage, Furniture & Home Décor, Beauty and Personal Care) and Regional Opportunity Analysis and Industry Forecast.

-        The global Retail Automation market size is projected to reach USD 16000 Million by 2026, from USD 10190 million in 2019, at a CAGR of 6.2% during 2021-2026.

-        Retail Execution Software Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2021 to 2026. The Report contains segmentation By Type (On-premise, Cloud-based), By Application (Large Enterprises, SMEs) and Regional Opportunity Analysis and Industry Forecast.

-        The electronic shelf label (ESL) market size was valued at USD 624.7 Million in 2018 and is projected to reach USD 2.40 Billion by 2027, growing at a CAGR of 15.9% from 2020 to 2027.

To see the full list of related reports on the Retail industry

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs. 

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains detail research methodology employed to generate the report, Please also reach to our sales team to get the complete list of our data sources

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