Market Research Future (MRFR), in its latest the global retail analytics market 2020 report stated the market is under high influence of COVID-19 pandemic. The long term analysis for the influence of corona pandemic on the retail market is provided by MRFR. As per MRFR study, the expansion of the retail analysis market is likely to grow at 17% CAGR across the assessment period 2017 and 2023 and value at USD 7 Bn by 2023. The retail analytics market share across the globe can change in the years to come due to the pandemic. Another chief factor that can drive the retail analytics market are the availability of personalization and optimization of business procedures features provided by retail analytics solutions.
The increase in the utility of retail analytics for data and transforms of data into information, which can be deployed for making market decisions is expected to be the underlining cause for the expansion of the retail analytics market across the assessment period. The highly flexible and affordable solution offer by retail analysis to optimize market decisions can promote the expansion of the world retail analytics market in the years to come. The growing utility of big data analytics for customer information analysis is expected to promote the expansion of the world retail analytics market.
Segment Study
The segment study of the global retail analytics market is based on business function, services, solutions, and deployment. The business function based segments of the retail analytics market are supply chain analytics, marketing analytics, consumer analytics, merchandising, and in-store analytics. The deployment-based segments of the retail analytics market are cloud deployment and on-premise deployment. The services based segment of the retail analytics market are support & maintenance, consulting, and system integration. The solution-based segments of the retail analytics market are mobile applications, data management software, analytical tools, and reporting & visualization tools.
Leading Key Players in Retail Analytics Market are:
- IBM Corporation (USA)
- Adobe Systems Incorporated (USA)
- HCL Technologies Ltd. (India)
- MicroStrategy Inc. (the USA)
- Cisco Systems Inc. (USA)
- Microsoft Corporation (USA)
- Oracle Corporation (USA)
- SAS Institute Inc. (USA)
- SAP SE (Germany)
- Tableau Software Inc. (the USA)
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