Retail Analytics Market Size & Share 2023 to 2032
Market Size by Function (Customer Management, Merchandising, Store Operations, Supply Chain, Strategy & Planning), by Solution (Software, Services), Deployment Model, Enterprise Size, Field Crowdsourcing & Global Forecast.Download Free PDF
Report Content
Chapter 1 Methodology & Scope
1.1 Scope & definitions
1.2 Methodology and forecast parameters
1.3 COVID-19 impact
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 Latin America
1.3.5 Middle East & Africa
1.4 Data Sources
1.4.1 Secondary
1.4.2 Primary
1.5 Glossary
Chapter 2 Executive Summary
2.1 Retail analytics industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total addressable market (TAM) trends, 2023 - 2032
2.3 Regional trends
2.4 Function trends
2.5 Solution trends
2.6 Enterprise Size trends
2.7 Deployment Mode trends
2.8 Crowdsourcing trends
Chapter 3 Retail Analytics Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.2.1 By region
3.2.1.1 North America
3.2.1.2 Europe
3.2.1.3 Asia Pacific
3.2.1.4 Latin America
3.2.1.5 Middle East & Africa
3.2.2 Strategies by major players to regain pre-COVID level growth
3.3 Impact analysis of Russia-Ukraine war
3.4 Retail analytics industry ecosystem analysis
3.4.1 Technology and Platform Providers
3.4.2 Retail IoT Component Suppliers
3.4.3 Marketing & Distribution
3.4.4 Third Party Service Providers
3.4.5 End-users
3.4.6 Profit margin analysis
3.4.7 Vendor matrix
3.5 Technology & innovation landscape
3.5.1 Advanced Analytics
3.5.2 Transactional
3.5.3 Collaborative
3.5.4 Trade Promotion Optimization (TPO)
3.5.5 Optimization & collaboration
3.5.6 Single photon technology
3.6 Patent analysis
3.7 Investment portfolio
3.8 Industry news
3.8.1 North America
3.8.2 Europe
3.8.3 Asia Pacific
3.8.4 Latin America
3.8.5 Middle East & Africa
3.9 Regulatory landscape
3.9.1 International Standards
3.9.2 North America
3.9.3 Europe
3.9.4 Asia Pacific
3.9.5 Latin America
3.9.6 MEA
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.1.1 Growing e-commerce industry in China and India
3.10.1.2 Increasing penetration of big data in the retail industry in the U.S.
3.10.1.3 Growing proliferation of smartphones in Asia Pacific
3.10.1.4 Increasing competition among retailers and increasing need for differentiation in North America
3.10.1.5 New generation of highly informed and demanding customers in Europe
3.10.1.6 Growing need for analytics maturity in Asia Pacific
3.10.1.7 Growing adoption of e-commerce in Latin America
3.10.1.8 Expanding retail sector in Middle East & Africa
3.10.2 Industry pitfalls & challenges
3.10.2.1 Lack of technical expertise
3.10.2.2 Data privacy concerns
3.11 Growth potential analysis
3.12 Porter’s analysis
3.12.1 Bargaining power of suppliers
3.12.2 Bargaining power of buyers
3.12.3 The threat of new entrants
3.12.4 The threat of substitute
3.12.5 Competitive rivalry
3.13 PESTEL analysis
3.13.1 Political
3.13.2 Economic
3.13.3 Social
3.13.4 Technological
3.13.5 Legal
3.13.6 Environmental
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, by revenue, 2022
4.2.1 Competitive analysis of major players, 2022
4.2.1.1 IBM Corporation
4.2.1.2 Microsoft Corporation
4.2.1.3 Salesforce
4.2.1.4 SAP SE
4.2.1.5 SAS Institute
4.2.2 Competitive analysis of market innovators, 2022
4.2.2.1 Google Inc.
4.2.2.2 MicroStrategy Inc.
4.2.2.3 Oracle Corporation
4.2.2.4 QlikTech International AB
4.2.2.5 Teradata Corporation
4.2.3 Vendor adoption matrix
4.2.4 Strategic outlook matrix
Chapter 5 Retail Analytics Market, By Function
5.1 Key trends, by function
5.2 Customer Management
5.2.1 Market estimates and forecast, 2018 – 2032
5.3 Merchandising
5.3.1 Market estimates and forecast, 2018 – 2032
5.4 Store Operations
5.4.1 Market estimates and forecast, 2018 – 2032
5.5 Supply Chain Management
5.5.1 Market estimates and forecast, 2018 – 2032
5.6 Strategy & Planning
5.6.1 Market estimates and forecast, 2018 – 2032
Chapter 6 Retail Analytics Market, By Solution
6.1 Key trends, by solution
6.2 Software
6.2.1 Market estimates and forecast, 2018 – 2032
6.3 Service
6.3.1 Market estimates and forecast, 2018 – 2032
6.3.2 Training & consulting
6.3.2.1 Market estimates and forecast, 2018 – 2032
6.3.3 Integration & deployment
6.3.3.1 Market estimates and forecast, 2018 – 2032
6.3.4 Managed service
6.3.4.1 Market estimates and forecast, 2018 – 2032
Chapter 7 Retail Analytics Market, By Enterprise Size
7.1 Key trends, by enterprise size
7.2 Large enterprises
7.2.1 Market estimates and forecast, 2018 – 2032
7.3 SME
7.3.1 Market estimates and forecast, 2018 – 2032
Chapter 8 Retail Analytics Market, By Deployment Model
8.1 Key trends, by deployment mode
8.2 On-premise
8.2.1 Market estimates and forecast, 2018 – 2032
8.3 Cloud
8.3.1 Market estimates and forecast, 2018 – 2032
Chapter 9 Retail Analytics Market, By Crowdsourcing
9.1 Key trends, by deployment mode
9.2 On-shelf availability
9.2.1 Market estimates and forecast, 2018 – 2032
9.3 Documentation & Reporting
9.3.1 Market estimates and forecast, 2018 – 2032
9.4 Promotion Campaign Management
9.4.1 Market estimates and forecast, 2018 – 2032
9.5 Customer Insights
9.5.1 Market estimates and forecast, 2018 – 2032
Chapter 10 Retail Analytics Market, By Region
10.1 Key trends, by region
10.2 North America
10.2.1 Market estimates and forecast, 2018 – 2032
10.2.2 Market estimates and forecast, by function, 2018 – 2032
10.2.3 Market estimates and forecast, by solution, 2018 – 2032
10.2.3.1 Market estimates and forecast, by service, 2018 – 2032
10.2.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.2.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.2.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.2.7 U.S.
10.2.7.1 Market estimates and forecast, 2018 – 2032
10.2.7.2 Market estimates and forecast, by function, 2018 – 2032
10.2.7.3 Market estimates and forecast, by solution, 2018 – 2032
10.2.7.3.1 Market estimates and forecast, by service, 2018 – 2032
10.2.7.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.2.7.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.2.7.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.2.8 Canada
10.2.8.1 Market estimates and forecast, 2018 – 2032
10.2.8.2 Market estimates and forecast, by function, 2018 – 2032
10.2.8.3 Market estimates and forecast, by solution, 2018 – 2032
10.2.8.3.1 Market estimates and forecast, by service, 2018 – 2032
10.2.8.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.2.8.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.2.8.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.3 Europe
10.3.1 Market estimates and forecast, 2018 – 2032
10.3.2 Market estimates and forecast, by function, 2018 – 2032
10.3.3 Market estimates and forecast, by solution, 2018 – 2032
10.3.3.1 Market estimates and forecast, by service, 2018 – 2032
10.3.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.3.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.3.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.3.7 Germany
10.3.7.1 Market estimates and forecast, 2018 – 2032
10.3.7.2 Market estimates and forecast, by function, 2018 – 2032
10.3.7.3 Market estimates and forecast, by solution, 2018 – 2032
10.3.7.3.1 Market estimates and forecast, by service, 2018 – 2032
10.3.7.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.3.7.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.3.7.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.3.8 UK
10.3.8.1 Market estimates and forecast, 2018 – 2032
10.3.8.2 Market estimates and forecast, by function, 2018 – 2032
10.3.8.3 Market estimates and forecast, by solution, 2018 – 2032
10.3.8.3.1 Market estimates and forecast, by service, 2018 – 2032
10.3.8.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.3.8.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.3.8.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.3.9 France
10.3.9.1 Market estimates and forecast, 2018 – 2032
10.3.9.2 Market estimates and forecast, by function, 2018 – 2032
10.3.9.3 Market estimates and forecast, by solution, 2018 – 2032
10.3.9.3.1 Market estimates and forecast, by service, 2018 – 2032
10.3.9.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.3.9.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.3.9.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.3.10 Italy
10.3.10.1 Market estimates and forecast, 2018 – 2032
10.3.10.2 Market estimates and forecast, by function, 2018 – 2032
10.3.10.3 Market estimates and forecast, by solution, 2018 – 2032
10.3.10.3.1 Market estimates and forecast, by service, 2018 – 2032
10.3.10.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.3.10.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.3.10.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.3.11 Russia
10.3.11.1 Market estimates and forecast, 2018 – 2032
10.3.11.2 Market estimates and forecast, by function, 2018 – 2032
10.3.11.3 Market estimates and forecast, by solution, 2018 – 2032
10.3.11.3.1 Market estimates and forecast, by service, 2018 – 2032
10.3.11.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.3.11.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.3.11.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.4 Asia Pacific
10.4.1 Market estimates and forecast, 2018 – 2032
10.4.2 Market estimates and forecast, by function, 2018 – 2032
10.4.3 Market estimates and forecast, by solution, 2018 – 2032
10.4.3.1 Market estimates and forecast, by service, 2018 – 2032
10.4.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.4.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.4.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.4.7 China
10.4.7.1 Market estimates and forecast, 2018 – 2032
10.4.7.2 Market estimates and forecast, by function, 2018 – 2032
10.4.7.3 Market estimates and forecast, by solution, 2018 – 2032
10.4.7.3.1 Market estimates and forecast, by service, 2018 – 2032
10.4.7.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.4.7.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.4.7.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.4.8 India
10.4.8.1 Market estimates and forecast, 2018 – 2032
10.4.8.2 Market estimates and forecast, by function, 2018 – 2032
10.4.8.3 Market estimates and forecast, by solution, 2018 – 2032
10.4.8.3.1 Market estimates and forecast, by service, 2018 – 2032
10.4.8.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.4.8.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.4.8.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.4.9 Japan
10.4.9.1 Market estimates and forecast, 2018 – 2032
10.4.9.2 Market estimates and forecast, by function, 2018 – 2032
10.4.9.3 Market estimates and forecast, by solution, 2018 – 2032
10.4.9.3.1 Market estimates and forecast, by service, 2018 – 2032
10.4.9.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.4.9.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.4.9.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.4.10 Australia
10.4.10.1 Market estimates and forecast, 2018 – 2032
10.4.10.2 Market estimates and forecast, by function, 2018 – 2032
10.4.10.3 Market estimates and forecast, by solution, 2018 – 2032
10.4.10.3.1 Market estimates and forecast, by service, 2018 – 2032
10.4.10.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.4.10.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.4.10.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.4.11 Southeast Asia
10.4.11.1 Market estimates and forecast, 2018 – 2032
10.4.11.2 Market estimates and forecast, by function, 2018 – 2032
10.4.11.3 Market estimates and forecast, by solution, 2018 – 2032
10.4.11.3.1 Market estimates and forecast, by service, 2018 – 2032
10.4.11.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.4.11.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.4.11.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.5 Latin America
10.5.1 Market estimates and forecast, 2018 – 2032
10.5.2 Market estimates and forecast, by function, 2018 – 2032
10.5.3 Market estimates and forecast, by solution, 2018 – 2032
10.5.3.1 Market estimates and forecast, by service, 2018 – 2032
10.5.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.5.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.5.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.5.7 Brazil
10.5.7.1 Market estimates and forecast, 2018 – 2032
10.5.7.2 Market estimates and forecast, by function, 2018 – 2032
10.5.7.3 Market estimates and forecast, by solution, 2018 – 2032
10.5.7.3.1 Market estimates and forecast, by service, 2018 – 2032
10.5.7.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.5.7.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.5.7.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.5.8 Mexico
10.5.8.1 Market estimates and forecast, 2018 – 2032
10.5.8.2 Market estimates and forecast, by function, 2018 – 2032
10.5.8.3 Market estimates and forecast, by solution, 2018 – 2032
10.5.8.3.1 Market estimates and forecast, by service, 2018 – 2032
10.5.8.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.5.8.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.5.8.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.5.9 Argentina
10.5.9.1 Market estimates and forecast, 2018 – 2032
10.5.9.2 Market estimates and forecast, by function, 2018 – 2032
10.5.9.3 Market estimates and forecast, by solution, 2018 – 2032
10.5.9.3.1 Market estimates and forecast, by service, 2018 – 2032
10.5.9.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.5.9.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.5.9.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.6 MEA
10.6.1 Market estimates and forecast, 2018 – 2032
10.6.2 Market estimates and forecast, by function, 2018 – 2032
10.6.3 Market estimates and forecast, by solution, 2018 – 2032
10.6.3.1 Market estimates and forecast, by service, 2018 – 2032
10.6.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.6.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.6.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.6.7 Saudi Arabia
10.6.7.1 Market estimates and forecast, 2018 – 2032
10.6.7.2 Market estimates and forecast, by function, 2018 – 2032
10.6.7.3 Market estimates and forecast, by solution, 2018 – 2032
10.6.7.3.1 Market estimates and forecast, by service, 2018 – 2032
10.6.7.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.6.7.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.6.7.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.6.8 UAE
10.6.8.1 Market estimates and forecast, 2018 – 2032
10.6.8.2 Market estimates and forecast, by function, 2018 – 2032
10.6.8.3 Market estimates and forecast, by solution, 2018 – 2032
10.6.8.3.1 Market estimates and forecast, by service, 2018 – 2032
10.6.8.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.6.8.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.6.8.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
10.6.8.7
10.6.9 South Africa
10.6.9.1 Market estimates and forecast, 2018 – 2032
10.6.9.2 Market estimates and forecast, by function, 2018 – 2032
10.6.9.3 Market estimates and forecast, by solution, 2018 – 2032
10.6.9.3.1 Market estimates and forecast, by service, 2018 – 2032
10.6.9.4 Market estimates and forecast, by enterprise size, 2018 – 2032
10.6.9.5 Market estimates and forecast, by deployment mode, 2018 – 2032
10.6.9.6 Market estimates and forecast, by crowdsourcing, 2018 – 2032
Chapter 11 Company Profiles
11.1 1010data, Inc.
11.1.1 Business Overview
11.1.2 Financial Data
11.1.3 Product Landscape
11.1.4 Strategic Outlook
11.1.5 SWOT Analysis
11.2 Adobe, Inc.
11.2.1 Business Overview
11.2.2 Financial Data
11.2.3 Product Landscape
11.2.4 Strategic Outlook
11.2.5 SWOT Analysis
11.3 Altair Engineering, Inc.
11.3.1 Business Overview
11.3.2 Financial Data
11.3.3 Product Landscape
11.3.4 Strategic Outlook
11.3.5 SWOT Analysis
11.4 Bedrock Analytics Corporation
11.4.1 Business Overview
11.4.2 Financial Data
11.4.3 Product Landscape
11.4.4 Strategic Outlook
11.4.5 SWOT Analysis
11.5 BeMyEye Holdings Ltd.
11.5.1 Business Overview
11.5.2 Financial Data
11.5.3 Product Landscape
11.5.4 Strategic Outlook
11.5.5 SWOT Analysis
11.6 Clickworker GmbH
11.6.1 Business Overview
11.6.2 Financial Data
11.6.3 Product Landscape
11.6.4 Strategic Outlook
11.6.5 SWOT Analysis
11.7 Field Agent Inc.
11.7.1 Business Overview
11.7.2 Financial Data
11.7.3 Product Landscape
11.7.4 Strategic Outlook
11.7.5 SWOT Analysis
11.8 FLIR Systems, Inc. (Teledyne FLIR LLC)
11.8.1 Business Overview
11.8.2 Financial Data
11.8.3 Product Landscape
11.8.4 Strategic Outlook
11.8.5 SWOT Analysis
11.9 HCL Technologies Limited
11.9.1 Business Overview
11.9.2 Financial Data
11.9.3 Product Landscape
11.9.4 Strategic Outlook
11.9.5 SWOT Analysis
11.10 IBM Corporation
11.10.1 Business Overview
11.10.2 Financial Data
11.10.3 Product Landscape
11.10.4 Strategic Outlook
11.10.5 SWOT Analysis
11.11 Information Builders, Inc.
11.11.1 Business Overview
11.11.2 Financial Data
11.11.3 Product Landscape
11.11.4 Strategic Outlook
11.11.5 SWOT Analysis
11.12 Microsoft Corporation
11.12.1 Business Overview
11.12.2 Financial Data
11.12.3 Product Landscape
11.12.4 Strategic Outlook
11.12.5 SWOT Analysis
11.13 MicroStrategy Incorporated
11.13.1 Business Overview
11.13.2 Financial Data
11.13.3 Product Landscape
11.13.4 Strategic Outlook
11.13.5 SWOT Analysis
11.14 Oracle Corporation
11.14.1 Business Overview
11.14.2 Financial Data
11.14.3 Product Landscape
11.14.4 Strategic Outlook
11.14.5 SWOT Analysis
11.15 QlikTech International AB
11.15.1 Business Overview
11.15.2 Financial Data
11.15.3 Product Landscape
11.15.4 Strategic Outlook
11.15.5 SWOT Analysis
11.15.6 SWOT Analysis
11.16 Roamler B.V.
11.16.1 Business Overview
11.16.2 Financial Data
11.16.3 Product Landscape
11.16.4 Strategic Outlook
11.16.5 SWOT Analysis
11.16.6 SWOT Analysis
11.17 Salesforce.com, Inc.
11.17.1 Business Overview
11.17.2 Financial Data
11.17.3 Product Landscape
11.17.4 Strategic Outlook
11.17.5 SWOT Analysis
11.17.6 SWOT Analysis
11.18 SAP SE
11.18.1 Business Overview
11.18.2 Financial Data
11.18.3 Product Landscape
11.18.4 Strategic Outlook
11.18.5 SWOT Analysis
11.19 SAS Institute, Inc.
11.19.1 Business Overview
11.19.2 Financial Data
11.19.3 Product Landscape
11.19.4 Strategic Outlook
11.19.5 SWOT Analysis
11.20 Teradata Corporation
11.20.1 Business Overview
11.20.2 Financial Data
11.20.3 Product Landscape
11.20.4 Strategic Outlook
11.20.5 SWOT Analysis
11.21 TIBCO Software, Inc.
11.21.1 Business Overview
11.21.2 Financial Data
11.21.3 Product Landscape
11.21.4 Strategic Outlook
11.21.5 SWOT Analysis
11.22 TopMission (Hereby CrowdSystems Holding, LTD.)
11.22.1 Business Overview
11.22.2 Financial Data
11.22.3 Product Landscape
11.22.4 Strategic Outlook
11.22.5 SWOT Analysis
For inquiries regarding discounts, bulk purchases, or customization requests, please contact us at [email protected]
Base Year: 2022
Companies covered: 22
Tables & Figures: 377
Countries covered: 18
Pages: 250
Download Free PDF
Base Year: 2022
Companies covered: 22
Tables & Figures: 377
Countries covered: 18
Pages: 250
Download Free PDF
Share Content
Add Citations
Preeti Wadhwani. 2022, November. Retail Analytics Market Size By Function (Customer Management, Merchandising, Store Operations, Supply Chain, Strategy & Planning), By Solution (Software, Services), Deployment Model, Enterprise Size, Field Crowdsourcing & Global Forecast, 2023-2032 (Report ID: GMI319). Global Market Insights Inc. Retrieved April 8, 2026, from https://www.gminsights.com/toc/details/retail-analytics-market
Retail Analytics Market
Get a free sample of this report
Retail Analytics Market Size
Retail Analytics Market size surpassed USD 10 billion in 2022 and is anticipated to expand at over 24% CAGR between 2023 and 2032. Rapid urbanization and expanding e-commerce sector in developing countries will drive the industry demand. Innovation, digitization, and the development of next-generation analytics tools in developed economies will further accelerate the use of big data analytics in retail.
Companies are leveraging retail analytics to offer personalized shopping experiences via customer recommendations based on prior purchases to provide better customer services. Big data analytics allows e-commerce firms to understand buying patterns of customers to interpret and act on decisive data insights. Tech giants are launching advanced retail analytical tools to address the growing need for digital solutions.
Data privacy concerns may impede the adoption of retail analytics. The advent of big data analytics has resulted in a rise in sophisticated privacy breaches. However, several companies are using data masking to tackle privacy issues and customer data safe. Large IT firms are focusing on the development of resources and guidance pertaining to retail analytics solutions for the improvement of data privacy.
COVID-19 Impact
The COVID-19 pandemic has led to the onset of the digitization of retail businesses across the globe. The pandemic compelled a paradigm shift from traditional retail to modern e-commerce models based on advanced digital tools such as AI and analytics.
Owing to quarantine measures and strict lockdowns, retail customers rapidly switched to online shopping. The increasing prevalence of online consumption patterns further accelerated the need for innovation and digital disruption. Increasing use of AI to personalize shopping experiences, boost customer retention, and enhance sales efficiency will impel the market revenue.
Retail Analytics Market Analysis
The customer management segment is projected to exhibit around 25% growth rate through 2032. Customer management using analytics helps retailers to gain actionable insights from customer data and devise new strategies to improve customer loyalty via customized and buyer-centric offers. For instance, in August 2022, Monday.com, a cloud-based management software platform launched a fully customizable Monday Sales CRM to support teams working across project management, marketing, software development, and sales.
Integration and deployment service segment accounted for more than 40% share of the retail analytics market in 2022. Embedded analytics has penetrated the retail sector and has accelerated the integration and deployment of analytical solutions and data visualization capabilities into software.|
The advent of next-generation technologies such as AI and deep learning has allowed analytics service providers to correlate, assess, and evaluate retail business activities more effectively. Embedded retail analytics offers several advantages including improved decision-making, efficient analysis & data integration, and improved sales strategy. It also allows companies to predict future sales to boost profit.
On-shelf availability segment held more than 30% market share in 2022, due to their ability to effectively place re-orders and warn in case of critical stock shortages. Stockouts are a major concern for retailers worldwide. Approximately 50% of stockouts occur due to unproductive store practices such as store inventory, replenishment, ordering, and projecting. The COVID-19 pandemic dramatically fueled stockouts by 250%, accelerating the need for OSA solutions.
The cloud deployment mode segment is expected to witness growth of 25.5% from 2023 to 2032. Cloud-based data analytics is empowering the retail landscape with improved scope for the optimization of operations. It offers several advantages including business agility and better collaboration and communication with partner firms and customers. High preference for cloud platforms among retailers can be attributed to the on-demand computing power which allows them to deal with large volumes of data and deliver actionable insights in a limited period.
Europe retail analytics market is poised to grow at a CAGR of 23% during the forecast period, owing to changing customer preferences and rapid digitization. A sustainable rise in investments into AI-based digital tools to overcome inconsistencies in the supply chain and address retail shrinkage will offer lucrative opportunities for the providers of retail analytics. Europe also has a vast landscape of leading retail brands and companies boosting online presence.
Retail Analytics Market Share
Some of the key players in the market are
These companies are focusing on the development of novel analytics solutions. For instance, in June 2022, Amazon Inc. unveiled the Store Analytics service for brands offering anonymized and compiled insights on performance, ad campaigns, and promotions.
The retail analytics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
Market, By Function
Market, By Solution
Market, By Enterprise Size
Market, By Deployment Mode
Market, By Crowdsourcing
The above information has been provided for the following regions and countries: