Global Retail Analytics Market 2017-2018 & 2023
DUBLIN, May 22, 2018 /PRNewswire/ --
The "Global Retail Analytics Market - By Function, Mode of Deployment, Solution, Services, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2017-2023)" report has been added to ResearchAndMarkets.com's offering.
The market for the analytics in retail has been growing at a big rate considering the demand for companies to provide apt products to their customers. The global market was USD 3.1 billion in 2017 and is estimated to reach USD 9.50 billion by 2023 at a CAGR of 20.50% during the forecasted period. The rising need to develop competitive products and reduce operational and production costs are major factors influencing the growth of this market.
The use of analytics in the retail market helps the companies and the sellers target specific customers based on their interests and providing appropriate products and advertisements depending on their needs. Use of analytics to check the demand for a product and the popularity has been growing trend amongst the product selling companies these days. In this highly competitive market, companies need to maximize engagement with their customers and understand and target their specific needs. Thus analytics helps companies' prove customers with products that they are more likely to demand and buy.
Growth by Region:
North America led the market with a share of more than 50% in 2017. The CAGR for the America region is expected to be slightly more than 20% which is higher than the overall CAGR of the market. In India, the growth of ecommerce industry size and the use of smart phones to buy these goods have made the market a huge part in the global scenario. Adoption and increase of Information Technology field in regions like Japan, China and India has driven this market to new heights in this region.
Drivers Vs. Constraints:
The need for appropriate costumer targeting and reducing costs is giving this market huge demand. Companies want to target customers based on their products and provide customers with the products which they would be more interested in. The large companies thus have a larger selling rate compared to seller ones as due to analytics they can provide more appropriate products to their customers and hence no customers can go empty handed.
However, on the other hand, one of the major constraints is the requirement of huge investment. Analytics are expensive to set up as they need expensive software's and skilled professionals to go through the data. Also data is not available easily and data collection requires more investment costs.
Industry Structure and Updates:
Retail Analytics market is growing at a massive rate with many companies doing research on the technology and various startups also emerging in the field. Competition on the basis of efficiency and costs are the basis of difference amongst these. New professional degrees in analytics have been introduced to train people specifically for these fields.
Key Topics Covered:
Research Methodology
Executive Summary
Market Overview
- Definition
- Industry Value Chain Analysis
- Porter's 5 Forces
- Regulations
Market Dynamics
- Introduction
- Drivers
- Constraints
- Trends
Global Retail Analytics Market Segmentation, Forecasts and Trends
By Function
- Consumer Management
- Supply Chain Management
- Merchandising
- In-store operations
- Strategy & planning
By Mode of Deployment
- On-premise
- Cloud-based
By Solution
- Data management software
- Analytical tools
- Mobile applications
- Reporting and visualization tools
By Services
- Managed service
- Professional service
By Region
- North America
- U.S.
- Canada
Europe
- UK
- France
- Germany
- Italy
- Others
Asia-Pacific
- India
- China
- Japan
- Australia
- Others
- Latin America
- Brazil
- Argentina
- Mexico
- Others
Middle East and Africa
- South Africa
- UAE
- Saudi Arabia
- Egypt
- Others
Company Market Share Analysis
Company Profiles
- Brickstream Corp
- 1010Data
- Teradata
- Tableau Software, Inc.
- Adobe Systems Incorporated
- SAS Institute
- Angoss Software
- Bedrock Analytics Corporation
- Salesforce.com, Inc
- TARGIT A/S
- Oracle Corporation
- SAP
- Microsoft Corporation
- Zoho Corporation
- Fuzzy Logix
- ZAP Business Intelligence
- Qlik Technologies, Inc.
- IBM
- HCL
- Microstrategy Incorporated
- Information Builders
- Others
Industry Structure
- Industry M&As, Consolidations
- Investment Opportunities
Global Retail Analytics Market - Road Ahead
For more information about this report visit https://www.researchandmarkets.com/research/l6d994/global_retail?w=5
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