NEW YORK, Sept. 26, 2023 /PRNewswire/ -- The Retail Analytics Market size is projected to increase by USD 11.81 billon, accelerating at a CAGR of 21.15%, during the forecast period. A key driver of growth in the retail analytics market is the escalating volume and intricacy of data generated within the retail sector. This data originates from various sources such as online and offline transactions, customer interactions, supply chains, and social media. Retailers harness this data to gain a competitive advantage through analytics-driven insights. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Request sample report here
Retail Analytics Market 2023 – 2027: Challenge
A significant obstacle to the growth of the retail analytics market is the privacy and security concerns of customers. Many retailers gather extensive data on consumers to enhance their operations and improve customer experiences. However, these retail establishments must also adhere to data protection regulations. The sensitive customer data collected by retailers is vulnerable to data breaches and cyberattacks, which can lead to financial losses, damage to their reputation, and legal consequences.
Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now
Retail Analytics Market 2023 – 2027: Segmentation
The retail analytics market is segmented by Application (In-store operation, Customer management, Supply chain management, Marketing and merchandizing, and Others), Component (Software and Services), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
During the forecast period, there will be substantial growth in the in-store operation segment. This segment primarily revolves around the utilization of data analytics to enhance various facets of traditional brick-and-mortar retail operations. Within this segment, numerous activities within physical stores aim to enhance customer experiences, boost operational efficiency, and ultimately contribute to overall business prosperity.
View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Retail Analytics Market 2023 – 2027: Region
North America is expected to contribute significantly, accounting for 30% of global market growth during the forecast period. This is largely driven by the region's well-developed retail industry, which includes both physical and online retailers. The presence of this industry fuels the demand for advanced retail analytics solutions to enhance operations and customer experiences, owing to the substantial data generated by high consumer engagement and online shopping habits in the region.
Retail Analytics Market 2023 – 2027: Key companies
- Accenture Plc
- Alphabet Inc.
- Amazon.com Inc.
- Capillary Technologies
- Cisco Systems Inc.
- Domo Inc.
- Fujitsu Ltd.
- HCL Technologies Ltd.
- International Business Machines Corp.
- Manthan Software Services Pvt. Ltd.
- Microsoft Corp.
- MicroStrategy Inc.
- NCR Corp.
- Oracle Corp.
- Salesforce Inc.
- SAP SE
- SAS Institute Inc.
- Symphony Innovation, LLC
- Thoma Bravo LP
- TIBCO Software Inc.
FAQS
- How do the major trends impact the market?
- How big is the North America market?
- How do the key drivers and challenges impact the market?
Related Reports:
Analytics As A Service (AaaS) Market: The Analytics As A Service (AaaS) Market size is estimated to grow at a CAGR of 23.03% between 2022 and 2027. The market size is forecast to increase by USD 34,112.91 million.
Security Analytics Market: The Security Analytics Market size is estimated to grow at a CAGR of 10.15% between 2022 and 2027. The market size is forecast to increase by USD 6,512.26 million.
Table of Contents:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Sizes
- Five Forces Analysis
- Market Segmentation by Application
- Market Segmentation by Component
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, & Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
![](https://rt.prnewswire.com/rt.gif?NewsItemId=CG19059&Transmission_Id=202309261735PR_NEWS_USPR_____CG19059&DateId=20230926)
Share this article