-
-
(EMAILWIRE.COM, April 19, 2024 ) According to a research report “Retail Analytics Market by Offering (Software, Services), Business Function (Sales and Marketing, Finance and Accounting), Application (Order Fulfillment and Returns Management, Merchandize Planning), End User and Region – Global Forecast to 2029″ published by MarketsandMarkets, the retail analytics market is projected to grow from USD 8.5 billion in 2024 to USD 25.0 billion by 2029, at a compound annual growth rate (CAGR) of 24.0% during the forecast period. The retail analytics market is expected to grow significantly during the forecast period, owing to various business drivers like the increasing increasing adoption of omni-channel retail strategies, exponential growth of e-commerce platforms, and proliferation of data generated through diverse channels is also responsible for driving the markets growth.
Browse 311 market data Tables and 75 Figures spread through 317 Pages and in-depth TOC on “Retail Analytics Market
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=123460609
By Software by analytics type, the predictive analytics segment to register for the largest market size during the forecast period.
By software by analytics type, the predictive analytics segment is expected to register the largest market size during the forecast period. Predictive analytics software can help forecast sales volumes, identify demand fluctuations, and predict customer preferences, enabling retailers to optimize pricing strategies, allocate resources efficiently, and tailor marketing campaigns to target specific customer segments. Recent advancements in predictive analytics technology, including the integration of AI and machine learning algorithms, have further enhanced the capabilities of predictive analytics software, enabling retailers to gain deeper insights, make more accurate predictions, and drive greater business value.
By services, managed services to register for the highest CAGR during the forecast period.
The managed segment of the retail analytics market is growing rapidly. Managed service providers (MSPs) offer tailored solutions that cater to the unique needs and challenges of retailers, delivering insights that drive operational efficiency, enhance customer engagement, and drive revenue growth. MSPs employ skilled professionals with expertise in data analysis, machine learning, and retail industry trends, enabling retailers to harness the full potential of their data assets. Additionally, managed services provide scalability and flexibility, allowing retailers to adapt to changing business requirements and market dynamics without the need for significant investments in infrastructure or personnel.
By region, Asia Pacific accounted for the highest growth rate during the forecast period.
Asia Pacific is witnessing significant growth in the retail analytics market. The surging popularity of e-commerce, with regions like China and India leading the charge, is a major growth driver. Retailers are increasingly reliant on data to understand online consumer behaviour, optimize pricing and promotions, and personalize marketing efforts. Additionally, the growing adoption of the Internet of Things (IoT) in stores is generating vast amounts of data on customer traffic, product interaction, and inventory levels.
Make an Enquiry @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=123460609
Some major players in the retail analytics market include Microsoft (US), IBM (US), SAP (Germany), Oracle (US), Salesforce (US), MicroStrategy (US), SAS Institute (US), AWS (US), Qlik (US), Teradata (US), WNS (India), HCL (India), Lightspeed Commerce (Canada), RetailNext (US), Manthan Systems (India), Fit Analytics (Germany), Trax (Singapore), ThoughtSpot (US), RELEX Solutions (Finland), Tredence (US), Creatio (US), Solvoyo (US), datapine (Germany), Sisense (US), EDITED (UK), Retail Zipline (US), ThinkINside (Italy), Dor Technologies (US), Triple Whale (Israel), Flame Analytics (Spain), Alloy.ai Technologies (US), Conjura (UK), Kyvos Insights (US), Pygmalios (Slovakia), and SymphonyAI (US).
About MarketsandMarkets
MarketsandMarkets has been recognized as one of Americas best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit https://www.marketsandmarkets.com/ or follow us on Twitter, LinkedIn and Facebook
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/retail-analytics-market.asp
Content Source:https://www.marketsandmarkets.com/PressReleases/retail-analytics.asp
