Retail Analytics Market to Reach $23.8 billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research®


London, March 03, 2021 (GLOBE NEWSWIRE) — According to a new market research report titled, Retail Analytics Market by Component (Software, Services), Organization Size, and Application (Finance Management, Marketing, Price Optimization, Human Resource Management, Operations Management)– Global Forecast to 2027”, the retail analytics market is expected to grow at a CAGR of 19.1% from 2020 to 2027 to reach $23.8 billion by 2027.

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Retail analytics refers to the process of offering analytical data on sales, consumer demand, inventory levels, and supply chain operations, among others. The analytics software helps users understand and interpret insights based on huge data generated from various devices, tools, and platforms allocated in the retail shops. The rising adoption of disruptive technologies primarily drives the retail analytics market to forecast future market trends, growing significance for enhancement of customer experiences and retail operations, and increasing use of m-commerce. However, lack of technology adoption by the unorganized retail sector and legal concerns & data privacy issues are hindering the market growth. The growing adoption of cloud services in retail and the advent of computer vision are the latest trends contributing to the growth of the retail analytics market.

Impact of COVID-19 on the R etail Analytics Market

The COVID-19 pandemic has adversely hit many economies around the globe. However, the market for technology in the data analytics sector was not affected to a greater extent. As a result, the retail analytics market is projected to witness fast recovery post-COVID-19 pandemic. Lockdowns and quarantine to counter COVID-19 have restricted the companies’ physical access to operate with the existing resources. This triggered the adoption rate of retail analytics solutions and services.

Moreover, amidst the pandemic, high use of retail analytics was witnessed among various retailers for visualizing and interpreting the impacts of the pandemic. A shift to e-commerce and contact-less delivery options significantly changed consumer behavior, making a new retail ecosystem. The consumer preferences were mainly focused on proactive health-oriented buying, pantry stockpiling, and daily use essentials.

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The retail analytics market is segmented based on component, organization size, application, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on component, the retail analytics market is segmented into software and services. In 2020, the software segment commanded the largest share of the overall retail analytics market. The largest share of this segment is mainly attributed to the growth in software adoption for analyzing customer buying preferences to formulate business strategies.

Based on application, the retail analytics market is segmented into finance, marketing and price optimization, human resources, operations, and other applications. In 2020, the marketing and price optimization segment commanded the largest share of the overall retail analytics market. The large share of this segment is attributed to the growing need of businesses to adopt predictive analytics strategies that enhance sales.

Based on organization size, the market is segmented into large and small enterprises. In 2020, the large enterprises segment accounted for the largest share of the overall retail analytics market. The SMEs segment is expected to witness the fastest growth over the coming years, mainly attributed to the increasing adoption of cloud-based services.

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Geographically, in 2020, North America commanded the largest share of the global retail analytics market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The rising demand for customized retail analytics solutions to predict and understand customer insights and increasing adoption of retail analytics to improvise business processes are expected to drive the market growth for the North American region. However, Asia-Pacific region is expected to witness rapid growth during the forecast period.

The report also includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past three years. The retail analytics market has witnessed several agreements, collaborations, and partnerships in recent years.

The retail analytics market is consolidated and dominated by few major players, namely Microsoft Corporation (U.S.), IBM Corporation (U.S.),, Inc. (U.S.), SAP SE (Germany), HCL Technologies Limited (India), SAS Institute, Inc. (U.S.), Qlik (U.S.), Manthan Software Services Pvt. Ltd. (India), BRIDGEi2i Analytics Solutions (India), MicroStrategy Incorporated (U.S.), Teradata (U.S.), Amazon Web Services (U.S.), Fujitsu (Japan), Oracle Corporation (U.S.), Domo, Inc. (U.S.), and Tableau Software, Inc. (U.S.) among others.

To gain more insights into the market with a detailed table of content and figures, click here:

Scope of the report

Retail Analytics Market, by Component

  • Software
    • Business Intelligence
    • Sales Forecasting
    • Demand Forecasting
    • Others
  • Services
    • Professional Services
    • Managed Services

Retail Analytics Market, by Organization Size

  • Large Enterprises
  • Small & Medium-sized Enterprises

Retail Analytics Market, by Application

  • Finance
    • PoS Management
    • Payment Management
  • Marketing and Price Optimization
    • Merchandising Analytics
    • Promotional Analysis & Planning
    • Pricing Analytics
    • Catalog Management
  • Human Resources
  • Operations
    • Digital Supply Chain Analytics
    • Inventory Analytics
    • Customer Analytics
    • Order Management

Retail Analytics Market , by Geography

  • North America
      • U.S.
      • Canada
  • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
  • Asia-Pacific
      • Japan
      • China
      • India
      • Rest of Asia-Pacific
  • Latin America
  • Middle East & Africa

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Amidst this crisis, Meticulous Research ® is continuously assessing the impact of the COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here-

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to detail. With meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Mr. Khushal Bombe
Meticulous Research®
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Mr. Khushal BombeMeticulous Research®Direct Lines: +1-646-781-8004 (North America)Email- [email protected]

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