The latest report by IMARC Group, titled “Retail Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the retail analytics market report. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global retail analytics market size reached US$ 8.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 40.0 Billion by 2032, exhibiting a growth rate (CAGR) of 17.8% during 2024-2032.
Retail Analytics Market Trends:
The global market is majorly driven by the increasing demand for enhanced customer experiences and operational efficiencies. Retailers leverage analytics to glean insights into consumer behavior, optimize inventory management, and personalize marketing strategies. The growing adoption of e-commerce, coupled with the rise of omnichannel retailing, intensifies the demand for data-driven decision-making tools, driving market growth. Additionally, the emergence of advanced technologies like artificial intelligence and machine learning fuels innovation in retail analytics solutions, enabling retailers to gain deeper and more actionable insights from their data.
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Retail Analytics Market Scope and Growth Analysis:
The scope of the retail analytics Market spans various applications, including customer segmentation, demand forecasting, pricing optimization, and supply chain management. Retailers employ analytics to analyze vast volumes of data generated from multiple sources, such as point-of-sale transactions, online interactions, and social media, to drive informed business decisions and gain a competitive edge. Market analysis reveals a robust growth trajectory for the retail analytics market, driven by increasing digitalization, evolving consumer preferences, and the need for retailers to stay agile in a competitive landscape. Retailers increasingly recognize the value of analytics in improving operational efficiency, driving sales growth, and enhancing customer satisfaction.
Moreover, the integration of advanced analytics technologies, such as predictive analytics and prescriptive analytics, enables retailers to anticipate market trends, optimize pricing strategies, and mitigate risks effectively. As retailers continue to invest in analytics solutions to harness the power of their data, the retail analytics market is poised for sustained growth and innovation.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 1010data Inc. (Advance Publications Inc.)
- Adobe Inc.
- Altair Engineering Inc.
- Flir Systems Inc.
- Fujitsu Limited
- International Business Machines Corporation
- Information Builders Inc.
- Microsoft Corporation
- Microstrategy Incorporated
- Oracle Corporation
- Qlik Technologies Inc. (Thoma Bravo LLC)
- SAP SE
- SAS Institute Inc.
- Tableau Software LLC (Salesforce.com Inc.)
- Tibco Software Inc.
Retail Analytics Market Segmentation:
Our report has categorized the market based on region, function, component, deployment mode and end user.
Function Insights:
- Customer Management
- In-store Operation
- Strategy and Planning
- Supply Chain Management
- Marketing and Merchandizing
- Others
Component Insights:
- Software
- Services
Deployment Mode Insights:
- On-premises
- Cloud-based
End User Insights:
- Small and Medium Enterprises
- Large Enterprises
Regional Insights:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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