Market Research Report
Global Retail Analytics Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||839597|
Delivery time: 2-3 business days
|Global Retail Analytics Market 2019-2025|
|Published: May 11, 2019||Content info:||
Retail Analytics Market Size, Share & Trends Analysis Report, By Deployment Model (Software and Service), By Application (Merchandising Analysis, Customer Management, Pricing Analysis, Performance Analysis, Inventory Analysis, Yield Analysis, and Supply Chain Management), and Forecast, 2019-2025.
Retail analytics is a process to offer analytical data on consumer demand, inventory level, sales, supply chain movement, and so on. The demand for retail analytics is estimated to grow significantly due to growth in retail sector coupled with rising competition in the retail industry. For instance, total retail sales for the fourth quarter of 2018 were estimated at $1,345.2 billion, a rise of 0.4% from the third quarter of 2018, as per the US Department of Commerce. The US has a well-established distribution channel for all kinds of retail companies. The retail service industry offers an openly competitive environment that results in significant innovations and strong business operations. Hence, the major retailers, such as Walmart, and Kroger is using retail analytics solutions to get real-time and relevant insights into their inventory, business management and customers. Moreover, there are several small, medium and large-scale retailers in the US. With the rising competition in the retail sector, the demand for retail analytics solution is expected to increase significantly for proper inventory management and customer management. The market has a significant opportunity due to the advent of machine learning, and artificial intelligence platforms.
The global retail analytics market is segmented on the basis of the application and deployment model. Based on the deployment model, the market is further classified into cloud based and on-premise. Based on application, the market is further segmented into merchandising analysis, customer management, pricing analysis, performance analysis, inventory analysis, yield analysis, and supply chain management. On the basis of geography, the market is segmented into four major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is anticipated to hold the largest share in 2018, due to the presence of major retailers coupled with growth in retail sales in the US. However, Asia-Pacific is anticipated to witness lucrative growth in the market due to rapid digitalization and growth in the e-commerce industry in the region.
The major players in the market comprise IBM Corp., Oracle Corp. Johnson Controls International PLC, RetailNext, Inc. Microsoft Corp., The Nielsen Company (US), LLC, and so on. The strategies followed by these major companies include merger and acquisitions, product launches and partnership and collaborations. This enables companies to expand market share and gain a competitive advantage globally.
The market study of the global retail analytics market is incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, country level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings the authenticity in our reports.
The report is intended for retail companies and private organizations for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.