The retail analytics market is poised to observe lucrative growth due to burgeoning proliferation of big data and cloud in the retail sector

Ocean View, DE -- (SBWire) -- 06/15/2020 --Retail Analytics Market is Booming Worldwide with Key Players: Adobe Systems, Inc., FLIR Systems, Inc., HCL Technologies, IBM, Microsoft, Oracle, Salesforce.com, Tableau Software, Teradata
Global Retail Analytics Market Analysis to 2026
Retail Analytics Market, Retail Analytics, Retail Analytics Industry
The retail analytics market is poised to observe lucrative growth due to burgeoning proliferation of big data and cloud in the retail sector
The retail analytics market is poised to observe lucrative growth due to burgeoning proliferation of big data and cloud in the retail sector. Nowadays, large brands and retailers are actively employing retail analytics to understand their consumer's buying patterns and for deriving meaningful data insights. In a bid to offer accurate analytics, developers are incorporating latest technological advancements in these solutions to help businesses effectively identify and target potential customers.

This could massively benefit prominent retailers as they leverage big data to streamline their merchandising strategies. Additionally, factors like rapid adoption of online shopping and e-commerce platforms for purchasing mundane items and escalating demand for data-intensive solutions could sway retailers to implement retail analytics solutions into their businesses.

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The Major Key Players in the retail analytics market are as follows: 1010Data, Adobe Systems, Inc., Angoss Software, Bedrock Analytics Corporation, FLIR Systems, Inc., HCL Technologies, IBM Corporation, Information Builders, Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, Qlik Technologies, Inc., Salesforce.com, Inc., SAP SE, SAS Institute, Tableau Software, Teradata Corporation, and TIBCO Software, Inc.

Cloud computing has emerged out as a need of the hour across various industrial sectors with retail being the one. Retailers have been finding it difficult to gather customer insights and outcomes from the information obtained through conventional business intelligence tools. Probably, this has enabled the retailers to opt for cloud based technologies owing to their high storage, scalability, and economic subscription. Cloud solutions in the retail analytics offer agility to businesses and the ability to enhance collaboration and communication with the partner and clients.

As per estimates, the retail analytics market cloud segment, in 2019, procured an overall market share of 35 per cent and is likely to grow at a rate of 20 per cent over 2020-2026.

Artificial Intelligence has picked up pace, lately, across various regions. Europe, in this regard, is estimated to observe a CAGR of 20 per cent through 2026 perhaps attributing to robust digitalization, shifting consumer preferences, growing retail shrinkage, expanding investments in AI retail, and inconsistency in supply chain. Retailers across the region, possess a top level of technological vigilance and are progressively embracing new analytical tools to develop their business capabilities on a large scale.

Surging investments in retail AI coupled with rapid digitalization is fueling the deployment of retail analytic solutions in Europe. Forecasters claim that Europe retail analytics market could monitor more than 20% CAGR by 2026. Factors like evolving customer preferences, inconsistency in supply chains, and increasing retail shrinkage could supplement regional business growth over the forecasted timeframe.

Besides, European retailers are also harnessing latest technological innovation and are often open to exploring new analytical tools to strengthen their business abilities. Citing an instance, back in August 2018, Symphony Retail AI joined forces with Globus, a German hypermarket retailer, to improve its user's online ordering experience. This, in turn, allowed the firm to curb the product delivery time and enhance its multichannel logistics processes.

Surging investments in retail AI coupled with rapid digitalization is fueling the deployment of retail analytic solutions in Europe. Forecasters claim that Europe retail analytics market could monitor more than 20% CAGR by 2026. Factors like evolving customer preferences, inconsistency in supply chains, and increasing retail shrinkage could supplement regional business growth over the forecasted timeframe.

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Besides, European retailers are also harnessing latest technological innovation and are often open to exploring new analytical tools to strengthen their business abilities. Citing an instance, back in August 2018, Symphony Retail AI joined forces with Globus, a German hypermarket retailer, to improve its user's online ordering experience. This, in turn, allowed the firm to curb the product delivery time and enhance its multichannel logistics processes.

Some Points From Table Of Content: -
Chapter 4. Retail Analytics Market, By Function
4.1. Key trends, Retail Analytics Market by function
4.2. Customer management
4.2.1. Market estimates and forecast, 2015 – 2026
4.3. Merchandizing
4.3.1. Market estimates and forecast, 2015 – 2026
4.4. Store operations
4.4.1. Market estimates and forecast, 2015 – 2026
4.5. Supply chain
4.5.1. Market estimates and forecast, 2015 – 2026
4.6. Strategy & planning
4.6.1. Market estimates and forecast, 2015 – 2026

Chapter 5. Retail Analytics Market, By Solution
5.1. Key trends, Retail Analytics Market by solution
5.2. Software
5.2.1. Market estimates and forecast, 2015 – 2026
5.3. Service
5.3.1. Market estimates and forecast, 2015 – 2026
5.3.2. Training & consulting
5.3.2.1. Market estimates and forecast, 2015 – 2026
5.3.3. Integration & deployment
5.3.3.1. Market estimates and forecast, 2015 – 2026
5.3.4. Managed services
5.3.4.1. Market estimates and forecast, 2015 – 2026

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/retail-analytics-market

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