PUNE, India, November 6, 2015 /PRNewswire/ --
According to a new market research report, "Retail Analytics Market by Business Function (Marketing and Customer Analytics, Merchandizing and In-Store Analytics, Supply Chain Analytics, Strategy and Planning), by Type, by Solutions and by Services - Global Forecast and Analysis to 2020", published by MarketsandMarkets, The Retail Analytics Market size is estimated to grow from USD 2.2 Billion in 2015 to USD 5.1 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 18.9% from 2015 to 2020.
Browse 66 market data Tables and 48 Figures spread through 139 Pages and in-depth TOC on "Retail Analytics Market"
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The market report defines and segments the global Retail Analytics Market on the basis of business function, solutions, services, deployment types, and regions along with providing an in-depth analysis and market size estimations.
The supply chain analytics is expected to contribute the largest market share whereas, merchandising and in-store analytics will play a key role in changing the retail analytics landscape during the forecast period. The report also covers the total Retail Analytics Market by geographic regions.
Merchandising and in-store analytics solutions are expected to gain maximum traction during the forecast period
The retail industry has evolved significantly in the recent years, in terms of infrastructure, utility, and technological advancements. Demand for the use of high-end technologies, such as the big data analytics has increased mainly to provide better customer experience. Furthermore, prevalent surge in in-store analytics solutions and services is driving the growth of the Retail Analytics Market. In-store analytics solutions are becoming an innate part of today's digital marketing and operational strategies as they help in analysing numerous areas of business such as marketing, operations, merchandising, fraud detection, and loss prevention.
Increasing demand for customized retail analytics solutions is stimulating the growth in the emerging economies of APAC and MEA. North America is expected to have the largest market share; however MEA will grow with the highest CAGR from 2015 to 2020, closely followed by APAC. The major vendors in the Retail Analytics Market include IBM, Oracle, SAP, SAS, Microsoft, Tableau, Angoss, Information Builders, Adobe, and Qlik.
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Key vendors in the retail analytics ecosystem were identified and studied individually, to understand the solution/ software offerings and features, business models, pricing models, and their respective customer base. This data was collated and further scrutinized based upon individual company's revenues, contributions from various regions/ countries, industries, and business segments.
The scope of the report covers detailed information regarding the major factors influencing the growth of the Retail Analytics Market such as drivers, restraints, challenges and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers and acquisitions, partnerships, agreements, collaborations, and recent developments associated with the Retail Analytics Market
The Retail Analytics Market size is estimated to grow from USD 2.2 Billion in 2015 to USD 5.1 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 18.9% from 2015 to 2020. Retail analytics solutions help retailers gain useful insights that can help them in making decisions from offers to the on-to-consumers to displaying the right product at right place at the shelf. These analytical solutions collect data from several data sources, integrate it, and further present it in a structured format, which enhances the data visibility and analytical capabilities. The Retail Analytics Market is expected to gain traction in the next five years due to growth in digital data.
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