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Retail Analytics Market

Global Retail Analytics Market Size, Share, Trends, Forecast: By Component: Solution, Service; By Deployment Type: On Premises, Cloud; By Function: Customer Management, Others; By Organization Size; By Application; By End Use; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Retail Analytics Market Outlook

The global retail analytics market reached a value of about USD 10.68 billion in 2023. The industry is further expected to grow at a CAGR of about 23.7% in the forecast period of 2024-2032 to reach a value of around USD 72.70 billion by 2032.

 

Global Retail Analytics Market

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Growth of the Merchandising Analysis Segment to Bolster the Retail Analytics Industry Expansion

Based on application, the merchandising analysis segment holds a significant share in the global market. This can be attributed to the growing adoption of innovative and advanced technologies by the companies in the retail sector to leverage consumer insights and store huge data volumes. Meanwhile, the inventory analysis segment is anticipated to grow significantly in the forecast period owing to the proliferating need to enhance business processes to keep track of stocked goods as well as of surplus inventory.

 

North America to Significantly Boost the Retail Analytics Industry Growth

The North American region accounts for a major share in the industry owing to the large investments made by huge enterprises to deploy advanced technologies and gain a competitive edge in the market. The early adoption of analytical and cloud-based solutions by large enterprises across the region has significantly contributed to the industry growth. Meanwhile, the Asia Pacific region is predicted to witness a robust growth over the forecast period. The countries like China, India, and Japan are predicted to grow considerably in the market due to the ample opportunities for the retail industry growth in these regions and the rapid technological developments.

 

Retail Analytics: Market Segmentation

Retail analytics is the intelligence solution that focuses on providing analytical modelling on various crucial processes in the retail industry. It aids in the decision-making process of the retailers by providing consumer insights and scope of product marketing and procurement. The increase in the number of social media users enables retailers to understand the demographic data and design their promotional and market growth strategies.

 

Global Retail Analytics Market By Function

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Based on component, the market is bifurcated into:

  • Solution
  • Service

By deployment type, the industry can be divided into:

  • On Premises
  • Cloud

By function, the market comprises of:

  • Customer Management
  • Supply Chain Management
  • In-Store Operation
  • Marketing and Merchandising
  • Others

By organisation size, it is segmented into:

  • Small and Medium Enterprises
  • Large Enterprises

By application, it is categorised as:

  • Merchandising Analysis
  • Pricing Analysis
  • Customer Analytics
  • Promotional Analysis and Planning
  • Yield Analysis
  • Inventory Analysis
  • Others

Based on end use, market can be segmented into:

  • Offline 
  • Online

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Retail Analytics Market By Region

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Growing Internet Penetration to Aid the Growth of the Retail Analytics Industry

The growing penetration of internet and the increasing adoption of cloud-based services are driving the retail analytics industry. Moreover, the technological advancements like artificial intelligence and machine learning have also augmented the industry's growth. The rising demand for dashboards for data visualisation and increase in data generation has also propelled the market growth. Other factors like the rapid urbanisation and escalating disposable incomes are also aiding market growth. However, lack of awareness and high cost of analytics may hamper the retail analytics industry growth.

Over the forecast period, factors like the increasing number of social media users and acquisitions and product launches are slated to fuel the market growth.

 

Key Industry Players in the Global Retail Analytics Market

The report gives a detailed analysis of the following key players in the global retail analytics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • IBM Corp
  • SAP SE
  • Oracle Corp
  • SAS Institute Inc.
  • Microsoft Corporation
  • Flir Systems, Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

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:

  • Component
  • Deployment Type
  • Function
  • Organization Size
  • Application
  • End Use
  • Region
Breakup by Component
  • Solution
  • Service
Breakup by Deployment Type
  • On Premises
  • Cloud
Breakup by Function
  • Customer Management
  • In-Store Operation 
  • Others
Breakup by Organization Size
  • Small and Medium Enterprises
  • Large Enterprises
Breakup by Application
  • Merchandising Analysis
  • Pricing Analysis
  • Customer Analytics
  • Promotional Analysis and Planning
  • Yield Analysis
  • Others
Breakup by End Use
  • Offline
  • Online
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • IBM Corp
  • SAP SE
  • Oracle Corp
  • SAS Institute Inc.
  • Microsoft Corporation
  • Flir Systems, Inc.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*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    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Retail Analytics Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Retail Analytics Historical Market (2018-2023) 
    8.3    Global Retail Analytics Market Forecast (2024-2032)
    8.4    Global Retail Analytics Market by Component
        8.4.1    Solution
            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 Retail Analytics Market by Deployment Type
        8.5.1    On Premises
            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 Retail Analytics Market by Function
        8.6.1    Customer Management
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Supply Chain Management
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    In-Store Operation
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Marketing and Merchandizing
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Others
    8.7    Global Retail Analytics Market by Organization Size
        8.7.1    Small and Medium Enterprises
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Large Enterprises
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
    8.8    Global Retail Analytics Market by Application
        8.8.1    Merchandising Analysis
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Pricing Analysis
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Customer Analytics
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Promotional Analysis and Planning
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Yield Analysis
            8.8.5.1    Historical Trend (2018-2023)
            8.8.5.2    Forecast Trend (2024-2032)
        8.8.6    Inventory Analysis
            8.8.6.1    Historical Trend (2018-2023)
            8.8.6.2    Forecast Trend (2024-2032)
        8.8.7    Others
    8.9    Global Retail Analytics Market by End Use
        8.9.1    Offline
            8.9.1.1    Historical Trend (2018-2023)
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Online
            8.9.2.1    Historical Trend (2018-2023)
            8.9.2.2    Forecast Trend (2024-2032)    
    8.10    Global Retail Analytics Market by Region
        8.10.1    North America
            8.10.1.1    Historical Trend (2018-2023) 
            8.10.1.2    Forecast Trend (2024-2032)
        8.10.2    Europe
            8.10.2.1    Historical Trend (2018-2023) 
            8.10.2.2    Forecast Trend (2024-2032)
        8.10.3    Asia Pacific
            8.10.3.1    Historical Trend (2018-2023)
            8.10.3.2    Forecast Trend (2024-2032)
        8.10.4    Latin America
            8.10.4.1    Historical Trend (2018-2023) 
            8.10.4.2    Forecast Trend (2024-2032)
        8.10.5    Middle East and Africa
            8.10.5.1    Historical Trend (2018-2023) 
            8.10.5.2    Forecast Trend (2024-2032)
9    North America Retail Analytics 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 Retail Analytics 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 Retail Analytics 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 Retail Analytics 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 Retail Analytics 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    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    IBM Corp
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    SAP SE
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Oracle Corp
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    SAS Institute Inc.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Microsoft Corporation
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Flir Systems, Inc.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Retail Analytics Market: Key Industry Highlights, 2018 and 2032
2.    Global Retail Analytics Historical Market: Breakup by Component (USD Billion), 2018-2023
3.    Global Retail Analytics Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.    Global Retail Analytics Historical Market: Breakup by Function (USD Billion), 2018-2023
5.    Global Retail Analytics Market Forecast: Breakup by Function (USD Billion), 2024-2032
6.    Global Retail Analytics Historical Market: Breakup by Organization Size (USD Billion), 2018-2023
7.    Global Retail Analytics Market Forecast: Breakup by Organization Size (USD Billion), 2024-2032
8.    Global Retail Analytics Historical Market: Breakup by Application (USD Billion), 2018-2023
9.    Global Retail Analytics Market Forecast: Breakup by Application (USD Billion), 2024-2032
10.    Global Retail Analytics Historical Market: Breakup by End Use (USD Billion), 2018-2023
11.    Global Retail Analytics Market Forecast: Breakup by End Use (USD Billion), 2024-2032
12.    Global Retail Analytics Historical Market: Breakup by Region (USD Billion), 2018-2023
13.    Global Retail Analytics Market Forecast: Breakup by Region (USD Billion), 2024-2032
14.    North America Retail Analytics Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    North America Retail Analytics Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Europe Retail Analytics Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Europe Retail Analytics Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Asia Pacific Retail Analytics Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Asia Pacific Retail Analytics Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Latin America Retail Analytics Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Latin America Retail Analytics Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Middle East and Africa Retail Analytics Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Middle East and Africa Retail Analytics Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Global Retail Analytics Market Structure

Key Questions Answered in the Report

In 2023, the global retail analytics market attained a value of nearly USD 10.68 billion.

The market is projected to grow at a CAGR of 23.7% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 72.70 billion by 2032.

The growing adoption of innovative and advanced technologies by retailers to leverage consumer insights and store huge data volumes is a major driver of the market.

The key trends in the market are growing penetration of internet and the increasing adoption of cloud-based services.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The different components of retail analytics are solutions and services.

The major deployment types of retail analytics considered in the market report include on premises and cloud.

The various segments based on function considered in the market report are customer management, supply chain management, in-store operation, and marketing and merchandising, among others.

The significant organisation sizes considered in the market report are small and medium enterprises and large enterprises.

The different applications of retail analytics include merchandising analysis, pricing analysis, customer analytics, promotional analysis and planning, yield analysis, and inventory analysis, among others.

The several end uses of retail analytics are offline and online, among others.

The major players in the market are IBM Corp, SAP SE, Oracle Corp, SAS Institute Inc., Microsoft Corporation, and Flir Systems, Inc., among others.

Analyst Review

The global retail analytics market attained a value of USD 10.68 billion in 2023, driven by the growing adoption of innovative and advanced technologies by the companies in the retail sector to leverage consumer insights and store huge data volumes. Aided by the growing penetration of internet and the increasing adoption of cloud-based services, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 23.7%. The market is projected to reach USD 72.70 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The components include solutions and services. The deployment types can be divided into on premises and cloud. Based on its function, the retail analytics industry can be segmented into customer management, supply chain management, in-store operation, marketing and merchandising, among others, with customer management accounting for the largest market share. The organisation sizes include small and medium enterprises, and large enterprises. The application sectors include merchandising analysis, pricing analysis, customer analytics, promotional analysis and planning, yield analysis, and inventory analysis, among others. The end-use sectors include offline and offline sectors. Major regional markets for retail analytics are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include IBM Corp, SAP SE, Oracle Corp, SAS Institute Inc., Microsoft Corporation, and Flir Systems, Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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