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Global Big Data Analytics in Retail Market Size, Forecast: By Component: Software, Service; By Deployment: On-Premise, Cloud; By Organisation Size: Large Enterprises, SMES; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Big Data Analytics in Retail Market Outlook
The global big data analytics in retail market size reached USD 8.93 billion in 2023. The market is expected to grow at a CAGR of 21.8% between 2024 and 2032, reaching almost USD 52.94 billion by 2032.
Key Takeaways:
- India ranked second in the 2021 Global Retail Development Index, with its retail sector contributing over 10% to GDP and employing 8% of the workforce.
- Statistics Canada reported Canadian retail sales in 2023 at $794.4 billion, a 2.2% rise from the prior year. This boost in sales aids the growth of global big data analytics in retail market.
- Big Data Analytics transforms retail by providing deep insights into consumer behaviour, preferences, and trends, enhancing customer experiences and marketing strategies.
Big data analytics revolutionizes the retail sector, offering in-depth insights into consumer behaviour, preferences, and trends. Retailers utilize this abundance of data to enhance customer experiences, streamline inventory management, and personalise marketing strategies.
As per the global big data analytics in retail market report, by analysing vast datasets in real-time, companies can make informed decisions, accurately forecast demand, and customize their offerings to nurture customer loyalty. This data-driven approach not only improves sales and profitability but also enables retailers to stay adaptable in a dynamic market, swiftly adapting to changing consumer demands and maintaining a competitive advantage.
As per Statistics Canada, Canadian retail sales for 2023 reached $794.4 billion, marking a 2.2% increase from the previous year. This uptick in sales contributes to the overall expansion of global big data analytics in retail market.
Key Trends and Developments
The expansion of the global big data analytics in retail market is driven by the integration of IoT, optimization of supply chains, predictive maintenance, and ethical data utilization.
February 2024
Circana™, a top consumer behaviour advisor, unveiled Liquid Data Engage™ globally, simplifying retail challenges by integrating market, category, loyalty, and supply chain data for growth.
January 2024
Microsoft introduced GenAI and industry-specific features in data fabric, including GenAI Copilots, to enhance retail personalization and support frontline workers.
November 2023
Industry leaders observed that technologies such as generative AI, machine learning, and big data analytics transformed India's e-commerce and retail, enhancing consumer experiences.
March 2023
KPMG aimed to provide retail clients with a competitive edge with Dash, a digital tool merging business data and AI for improved decisions.
IoT Integration
The use of IoT devices in stores provides instant insights into customer behaviour, foot traffic, and product interactions. This helps retailers enhance store layouts, placements, and customer experiences, thereby fuelling the expansion of the global big data analytics market in retail market.
Supply Chain Optimization
The global big data analytics in retail market growth is driven by the utilization of big data analytics improves inventory management, driving supply chain efficiency, cost reduction, and stockout minimization via predictive analytics and demand forecasting.
Predictive Maintenance
By implementing big data analytics for equipment monitoring and maintenance scheduling, retail businesses minimize downtime, enhance operational efficiency, and ensure uninterrupted customer service, thereby contributing to the global retail big data analytics market growth.
Ethical Data Use
Retailers give top priority to data privacy and security, following regulations and adopting transparent data practices to establish customer trust. This safeguards sensitive information while leveraging the potential of big data for business expansion.
Global Big Data Analytics in Retail Market Trends
As per the global big data analytics in retail market report, retailers are frequently employing AI algorithms to examine customer data, providing customized shopping experiences via personalized recommendations and focused marketing. Analysing customer sentiments enables retailers to tailor marketing, product creation, and customer service to evolving preferences.
Swift data processing enables retailers to promptly react to customer behaviour, refining pricing, promotions, and inventory in real-time.
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Market Segmentation
Global Big Data Analytics in Retail Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
- Software
- Service
Market Breakup by Deployment
- On-Premises
- Cloud
Market Breakup by Organisation Size
- Large Enterprises
- SMES
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
The global big data analytics in retail market is experiencing growth due to the adoption of cloud-based solutions which offer scalability to meet changing data requirements
Cloud-based solutions offer cost efficiency via pay-as-you-go models, accessible data for collaboration and quick decision-making, rapid tool deployment for adapting to trends, and advanced analytics without in-house development.
On-premises solutions ensure data control for compliance, customized analytics, fast processing for real-time insights, and compliance with data sovereignty laws through geographic restrictions.
Based on organisation size, global big data analytics in retail market share is led by large enterprises
For large retailers, big data analytics facilitates personalized customer experiences, streamlined inventory management, and operational efficiency, resulting in enhanced productivity and cost reduction.
For SMEs, big data analytics provides customer insights for tailored products, cost-effective marketing strategies, optimized inventory management, and improved customer service, fostering customer engagement and loyalty.
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Competitive Landscape
Market players are enhancing global big data analytics in retail market by providing a variety of technology services.
Cisco Systems Inc., established in 1984 and headquartered in San Jose, California, stands at the forefront of the global networking technology industry. It delivers networking, security, collaboration, and cloud services to organizations on a global scale.
Adobe Inc., founded in 1982 and located in San Jose, California, is widely recognized for its innovative creative and digital experience software such as Photoshop, Illustrator, and Acrobat. Adobe's solutions empower creativity, facilitate marketing efforts, and streamline document management.
IBM Corporation, with its origins dating back to 1911 and its headquarters in Armonk, New York, has been a trailblazer in computing technologies. IBM offers an array of technology services spanning from mainframes and servers to cutting-edge cloud computing and artificial intelligence solutions.
Oracle Corporation, established in 1977 and headquartered in Redwood City, California, leads the way in database software and enterprise cloud solutions globally. Oracle provides a comprehensive suite of applications, platforms, and tools to businesses of all sizes.
Other key players in the global big data analytics in retail market are SAP SE, Teradata Corporation, Wipro Limited, Sisense Ltd., QlikTech International AB, and Zoho Corporation Pvt. Ltd., among others.
Global Big Data Analytics in Retail Market Analysis by Region
Based on geography, the global big data analytics in retail market share is led by North America. Rapid digitalization and the increasing volume of data generated in the retail industry are fuelling the adoption of big data analytics, leading to market growth. Insights derived from retail big data analytics are increasingly utilized in marketing campaigns, a significant trend boosting the market.
In the Asia Pacific region, the rising adoption of big data analytics to analyse consumer behaviour in the online retail sector is propelling market growth. Retailers use big data analytics solutions to monitor consumer purchases and behaviour, providing tailored recommendations, thus driving market expansion.
As per the National Investment, Promotion, and Facilitation Agency, India secured the second position in the Global Retail Development Index (GRDI) for 2021. The retail industry contributes more than 10% to India's GDP and employs approximately 8% of its workforce, totalling over 35 million people. Projections suggest the sector will generate 25 million new jobs by 2030.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment |
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| Breakup by Organisation Size |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Big Data Analytics in Retail Market Analysis
8.1 Key Industry Highlights
8.2 Global Big Data Analytics in Retail Historical Market (2018-2023)
8.3 Global Big Data Analytics in Retail Market Forecast (2024-2032)
8.4 Global Big Data Analytics in Retail Market by Component
8.4.1 Software
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Service
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Big Data Analytics in Retail Market by Deployment
8.5.1 On-Premise
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Cloud
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Big Data Analytics in Retail Market by Organisation Size
8.6.1 Large Enterprises
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 SMES
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Big Data Analytics in Retail Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Big Data Analytics in Retail Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Big Data Analytics in Retail Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Big Data Analytics in Retail Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Big Data Analytics in Retail Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Big Data Analytics in Retail Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Cisco Systems Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Adobe Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 IBM Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Oracle Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 SAP SE
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Teradata Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Wipro Limited
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Sisense Ltd
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 QlikTech International AB
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Zoho Corporation Pvt. Ltd.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Big Data Analytics in Retail Market: Key Industry Highlights, 2018 and 2032
2. Global Big Data Analytics in Retail Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Big Data Analytics in Retail Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Big Data Analytics in Retail Historical Market: Breakup by Deployment (USD Billion), 2018-2023
5. Global Big Data Analytics in Retail Market Forecast: Breakup by Deployment (USD Billion), 2024-2032
6. Global Big Data Analytics in Retail Historical Market: Breakup by Organization Size (USD Billion), 2018-2023
7. Global Big Data Analytics in Retail Market Forecast: Breakup by Organization Size (USD Billion), 2024-2032
8. Global Big Data Analytics in Retail Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Big Data Analytics in Retail Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Big Data Analytics in Retail Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Big Data Analytics in Retail Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Big Data Analytics in Retail Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Big Data Analytics in Retail Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Big Data Analytics in Retail Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Big Data Analytics in Retail Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Big Data Analytics in Retail Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Big Data Analytics in Retail Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Big Data Analytics in Retail Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Big Data Analytics in Retail Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Big Data Analytics in Retail Market Structure
Key Questions Answered in the Report
The market was valued at USD 8.93 billion in 2023.
The market is projected to grow at a CAGR of 21.8% between 2024 and 2032.
The revenue generated from big data analytics in retail market is expected to reach USD 52.94 billion in 2032.
The expansion of big data analytics in retail market is driven by the integration of IoT, optimization of supply chains, predictive maintenance, and ethical data utilization.
Big data analytics in retail market is categorised according to its component, which includes software and service.
The major players in the market are Cisco Systems Inc., Adobe Inc., IBM Corporation, Oracle Corporation, SAP SE, Teradata Corporation, Wipro Limited, Sisense Ltd., QlikTech International AB, and Zoho Corporation Pvt. Ltd., among others.
Based on the deployment, big data analytics in retail market is divided into on-premises and cloud.
The major areas include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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