The need for applications
which help to maintain customer records of previous transactions and individual
sales count of inventory for future reference purposes is propelling the demand
for retail analytics market, according to a market intelligence report
published by IndustryARC.The report further estimates that the retail
analytics market was valued at $4.56 billion as of 2018. The market will
acquire a noticeable demand from e-commerce websites and will experience growth
with an outstanding compound annual growth rate (CAGR) of 20.97% during the
forecast period of 2019-2025.
The report is titled “Retail
Analytics Market: By Analytics (Predictive, Omni channel, Location, Big Data
and IOT); By Function (Marketing Sales, Risk Management, Supply Chain, Employee
Engagement, Customer Analytics and Finance & Executive Management) -
Forecast (2019-2025).” It includes all the factors which are driving the growth
of the industry and explains about opportunities that exist in the market, along
with showcasing the latest innovative trends.
Global Retail Analytics Market: Demand Analysis
Retail analytics is a process
of providing analytical data on inventory levels, supply chain movement,
customer demand, and sales which are crucial for making marketing and
procurement decisions. These analytics form a reliable base using which stocks
can be purchased, sold and maintained. Since this performance intelligence
process is entirely automated and formulated via machines, it is very reliable
in nature and is now being adopted by every other firm operating both in high stakes
and low stakes market spaces. Thus retail analytics are fulfilling the need for
a methodological approach of customer data maintenance.
Global Retail Analytics Market: Leading Segments
North America led the geographical segment in retail analytics market with 35.32% demand
share in 2018 as the levels of digital penetration all across the country is
very high due to the development which has taken place in the last decade.
Retail analytics are observed to be highly adaptable by firms in the form of
online applications. In North America, there are multiple firms working towards
full-scale adoption of online technology tools to make their work easier in
individual customer identification and per sale ratification.
The number of companies which
are interested in investing in retail analytics market are growing owing to the
increasing number of smart internet applications which are available out in the
open markets now. Also, certain supply chain management tasks such as moving
merchandise is one of the more efficient goals made possible by the use of
retail analytics processes. The growth of retail analytics market is superlative
with the application CAGR of online retail analytics tools evaluated to be 26.37%
during the time period of 2019-2025.
Global Retail Analytics Market: Disruptive Trends
Stock management techniques
used by companies worldwide have already been influenced by global retail
analytics market. There are other trends as well which are at play when it
comes to global retail analytics market such as:
• Growing Internet Penetration
As we have reached the vision
of global village as was defined by Marshall McLuhan already, we can see
internet encompass a wide array of applications to serve different uses. Many
of these applications help even the most basic of end users to perform their
business efficiently thus helping them scale up. By making use of the enormous
data which is localized across servers around the world, retail analytics
market is heading towards considerable growth in the future.
• Increased Use of Data-Intensive Platforms
Data these days has attained enormous
power in human life. From enlightening customers regarding purchase decisions
to helping them differentiate between two choices of commodities, information is
all around us. Due to advancements in technologies such as big data, more
amount of data is now being stored online thus elevating the level of crucial
data access anywhere and anytime. As customers are now very much familiar with
the use of these data-intensive platforms, it comes as a no surprise that
demand for retail analytics tools by the businesses is gaining traction.
• Rapid Adaptation of Social Media
We can now see that everyone
is now active on social media during one time of the day or other. The scale of
adoption of social media has been exponential especially over the past decade.
This is not only helping customers grow wiser about their purchase decisions
but is also permitting businesses to sense its customers better and deliver
better quality goods and services.
Global Retail Analytics Market: Competitive Landscape
Companies working in the
domain of retail analytics and having decent progress are listed as 1010data ,
Angoss Software, BRIDGEi2i, Capillary Technologies, Diaspark, FLIR Systems,
Fujitsu, GainInsights Solutions, Happiest Minds, Information Builders,
IntelliVision, IBM, LoyaltyOne, Manthan Software Services, Microsoft,
MicroStrategy, Oracle, QBurst, Qlik Technologies, RetailNext, SAP, SAS
Institute, Trax, Visual BI Solutions and Zebra Technologies.
Talk to one of our sales representative about the full report by providing your details in the link below:
https://www.industryarc.com/support.php?id=15357
Related Reports:
A. Big Data Analytics In
Retail Market
https://www.industryarc.com/Research/Big-Data-Analytics-In-Retail-Market-Research-502476
B. IoT In Retail Market
https://www.industryarc.com/Report/16316/iot-in-retail-market.html
C. Retail Automation Market
https://www.industryarc.com/Report/15043/retail-automation-market.html
What can you expect from
the report?
The retail analytics market is prepared with the
main agenda to cover the following 20 points:
1. Market Size by
Product Categories & Application
11. Demand Analysis (Revenue & Volume)
2. Market trends &
Relevant Market Data 12. Country level Analysis
3. Manufacturer
Landscape 13. Competitor Analysis
4. Distributor Landscape
14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user
Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market
Landscape Analysis
9. Mergers &
Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked
Questions:
Q. Does IndustryARC
provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize
the report by extracting data from our database of reports and annual
subscription databases. We can provide the following free customization:
1. Increase the level of
data in application or end user industry.
2. Increase the number
of countries in geography chapter.
3. Find out market
shares for other smaller companies or companies which are of interest to you.
4. Company profiles can
be requested based on your interest.
5. Patent analysis,
pricing, product analysis, product benchmarking, value and supply chain
analysis can be requested for a country or end use segment.
Any other custom
requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting
services.
To request for a proposal, provide your details in the below link:
https://www.industryarc.com/reports/request-quote?id=15357
Media Contact:
Mr. Venkat Reddy
Sales Manager
Email 1:
[email protected]
Or Email 2:
[email protected]
Contact Sales:
+1-614-588-8538 (Ext-101)
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.