Retail Analytics Market Technological Advancements, Growth Opportunity and Forecast 2018-2026


Retail analytics is the process of providing analytical data for supply chain management, merchandise intelligence, inventory management, cyber security, supply & demand processing, customer engagement, sales data modelling, and others. It helps in the process of decision-making, as it provides customer insights and scope for product marketing.
Download PDF Brochure @ https://www.coherentmarketinsights.com/insight/request-pdf/1719
Increasing adoption of new technologies is one of the major factors driving growth of the market
Rising adoption of new technologies such as big data, internet of things (IoT), and real-time analytics by various organizations to enhance business outcomes is driving growth of the retail analytics market. According to Coherent Market Insights’ analysis, around 70% of the retail industries are expected to adopt IoT by 2021. Retail analytics collects data from big data, machine learning, and artificial intelligence and business process, thereby delivering accurate information to solve business issues. Retail analytics provides customer insights from the real data, which helps the retailers to understand customer behavior and develop a customer centric product. This helps the organization to strengthen its foothold in the market, thereby fueling growth of the retail analytics market.
Rising number of unstructured data is a major factor driving growth of retail analytics market.
Rising number of unstructured data is driving growth of the retail analytics market, owing to the increasing number of organizations and rising demand for structured data. For instance, according to the International Data Group, unstructured data is growing at the rate of around 62 percent per year and around 93 percent of all data is expected to be unstructured by 2022. Unstructured data helps in understanding the market trend, customer demand, product description, and others. The rapid growth of unstructured data volume generated by various organizations have raised the trend of analytical tools, which helps in extracting insights from real data, thereby driving growth of the retail analytics market.
High cost of analytical tools is one of the major factors hampering growth of the market
The high cost of analytical tools is one of the major factors restraining growth of the market. Moreover, lack of unskilled workforce is also expected to hamper growth of the market over the forecast period.
Global Retail Analytics Market: Regional Insights
North America is expected to hold a dominant position in the market over the forecasted period, owing to rising e-commerce sector. For instance, according to the U.S. Commerce Department analysis, in 2016, the sales from e-commerce was 41.6% and it increased up to 49.4% in 2017. Digitalization, rising disposable income, and rising adoption of IOT are some of the factors responsible for increasing the sales of the e-commerce sector. Therefore, increasing sales of e-commerce will lead to increasing demand for analytical tools, which will boost growth of the retail analytics market in the region.
Global Retail Analytics Market: Competitive Landscape
The key players operating in the global retail analytics market include IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Adobe Systems Incorporated, SAS Institute Inc., HCL Technologies Ltd., Cisco Systems Inc., MicroStrategy, Inc., and Tableau Software, Inc. The major players of the market such as IBM Corporation, Microsoft, and Oracle Corporation are adopting strategies such as mergers and acquisitions for product development, in order to retain the position in the market. For instance, in December 2014, Oracle Corporation introduced the Oracle Retail Merchandising Analytics 14.1 version, which helps the retailers to improve their business performance by leveraging the real data collected from the consumers.
Browse Complete Report @ https://www.coherentmarketinsights.com/ongoing-insight/retail-analytics-market-1719
Global Retail Analytics Market: Taxonomy
On the basis of component type, the global retail analytics market is segmented into:
  • Software
  • Services
On the basis of deployment model, the global retail analytics market is segmented into:
  • On-Premises
  • On-Demand
On the basis of organization size, the global retail analytics market is segmented into:
  • SMEs (Small and Medium Enterprises)
  • Large Enterprises
On the basis of application, the global retail analytics market is segmented into:
  • Merchandising Analysis
  • Customer Analysis
  • Performance Analysis 
  • Inventory Analysis
  • Others
On the basis of end user, the global retail analytics market is segmented into:
  • Online
    • Personal Computers
    • Laptops
    • Mobiles
  • Offline
    • Supermarkets
    • Departmental Store
    • Specialty Store
    • Others
On the basis of region, the global retail analytics market is segmented into:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com


Comments

Post a Comment

Popular posts from this blog

Motor Vehicle Sensor Market - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  Market Overview Motor vehicle sensor control and monitor the chemical, physical, and process changes of automobiles. Sensors are used to reduce fuel consumption as well as onboard the weight of vehicles and also comply with government norms for passengers’ safety. With the advent of technology, automobiles are now equipped with a diverse range of sensors providing information about safety, comfort, and other convenience and comfort functions. The demand for sensors is dependent on a number of factors, ranging from technological advances to foreign trade to micro- and macro-economic variables that seek to improve the system functionality. The global motor vehicle sensor market is estimated to account for  US$ 75,447.5 Mn  in terms of value by the end of  2027 . Browse Complete Report @ https://www.coherentmarketinsights.com/market-insight/motor-vehicle-sensor-market-4129 Market Dynamics- Drivers Increasing need for legal and regulatory com...
Read more

Thermal Imaging Market - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  Market Overview Thermal imaging technology is a method of enhancing the object’s visibility in a totally dark environment by detection of infrared radiation emitted by an object and interpreting these radiations to create a visible pattern (image). This technology captures the upper layer of the infrared light spectrum. It best works in a dark environment without any ambient light and can see through fog, smoke, haze, and is capable of catching moving objects in real-time. There are two types of thermal imaging devices namely un-cooled devices and cryogenically cooled devices. The global Thermal Imaging Market was accounted for  US$ 1,978.7 Mn  in terms of value in 2019 and is expected to grow at  CAGR of 9.7%  for the period  2020-2027 . Browse complete Report @ https://www.coherentmarketinsights.com/market-insight/thermal-imaging-market-4090 Market Dynamics- Drivers Increased investment in armed forces modernization is expec...
Read more

Embedded Temperature Sensor Market - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  The temperature sensor is an electronic device that measures the temperature of person, environment or an object. The temperature sensor is used to state the degree or intensity of heat present in a substance. These sensors will convert input data to electronic data to record, monitor, and then display in a human readable format. There are mainly two types of sensors i.e. contact and non-contact temperature sensors. Non-contact temperature sensors are basically infrared (IR) sensors. Temperature sensor provides benefits such as durability, accuracy, and low power consumption. These sensors are used in various industries to detect overheating and give alert to end users. The temperature sensor finds its application in various sectors such as consumer electronics, semiconductor, chemical, manufacturing, and others. Browse complete Report @ https://www.coherentmarketinsights.com/market-insight/embedded-temperature-sensor-market-4015 The global embedded temperature se...
Read more