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Report
Retail Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-10-15 I 139 Pages I IMARC Group
Market Overview:
The global retail analytics market size reached US$ 7.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.2 Billion by 2028, exhibiting a growth rate (CAGR) of 20.3% during 2023-2028. The growing online shopping activities of individuals to avail discounts and save time, increasing adoption of cloud-based retail analytics solutions, and rising digitization of businesses represent some of the key factors driving the market.
Retail analytics is the method of providing analytical information on supply chain movement, inventory levels, consumer demands, and sales, which are vital for making marketing and procurement decisions. It includes providing ideas to understand and optimize the supply chain of retail businesses, consumer behavior, sales trends, and the overall performance of a company. It helps online businesses meet the rising needs of customers with personalized omnichannel offers, efficient processes, and spontaneous adjustments to prevailing trends. It aids businesses in improving their marketing tactics and targeting customers by determining the ideal customer base. It also assists companies in examining the location, age, preferences, purchasing patterns, and other important factors associated with their customers to connect with the right set of audience. It enables brands to understand the rise and fall of demand for their products and optimize the prices accordingly. Retail analytics guides companies to find the right opportunities in the industry that have a high return on investment (ROI). It also helps retailers find the perfect location to open their new outlets by providing information on demographics and locations wherein people spend most of their time.
Retail Analytics Market Trends:
At present, the increasing demand for retail analytics to enhance customer retention rates of small and medium-sized businesses represents one of the primary factors influencing the market positively. Besides this, rising online shopping activities of individuals to avail discounts and save time is propelling the growth of the market. Additionally, the growing digitization of businesses to increase efficiency, reduce operational costs, achieve higher agility, enhance employee morale, and prevent the occurrence of human errors in various labor-intensive tasks is offering a favorable market outlook. Apart from this, the rising adoption of cloud-based retail analytics solutions to enhance data security, improve inventory management, and improve disaster recovery processes is contributing to the growth of the market. In addition, the increasing awareness about the benefits of adopting retail analytics to improve business operations is supporting the market growth. Moreover, rising preferences of companies to expand their business operations and connect with customers around the world is strengthening the market growth. Furthermore, key market players are developing advanced retail analytics solutions integrated with artificial intelligence (AI) and machine learning (ML) to provide intelligent insights for real-time decision-making.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global retail analytics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on function, component, deployment mode and end user.
Function Insights:
Customer Management
In-store Operation
Strategy and Planning
Supply Chain Management
Marketing and Merchandizing
Others
The report has provided a detailed breakup and analysis of the retail analytics market based on the function. This includes customer management, in-store operation, strategy and planning, supply chain management, marketing and merchandizing, and others. According to the report, customer management represented the largest segment.
Component Insights:
Software
Services
A detailed breakup and analysis of the retail analytics market based on the component has also been provided in the report. This includes software and services. According to the report, software accounted for the largest market share.
Deployment Mode Insights:
On-premises
Cloud-based
A detailed breakup and analysis of the retail analytics market based on the deployment mode has also been provided in the report. This includes on-premises and cloud-based. According to the report, cloud-based accounted for the largest market share.
End User Insights:
Small and Medium Enterprises
Large Enterprises
A detailed breakup and analysis of the retail analytics market based on the end user has also been provided in the report. This includes small and medium enterprises and large enterprises. According to the report, large enterprises accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for retail analytics. Some of the factors driving the North America retail analytics market included the growing digitalization of operations, increasing utilization of online shopping platforms, rising employment of advanced analytics in retail, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global retail analytics market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 1010data Inc. (Advance Publications Inc.), Adobe Inc., Altair Engineering Inc., Flir Systems Inc., Fujitsu Limited, International Business Machines Corporation, Information Builders Inc., Microsoft Corporation, Microstrategy Incorporated, Oracle Corporation, Qlik Technologies Inc. (Thoma Bravo LLC), SAP SE, SAS Institute Inc., Tableau Software LLC (Salesforce.com Inc.), Tibco Software Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
1. What was the size of the global retail analytics market in 2022?
2. What is the expected growth rate of the global retail analytics market during 2023-2028?
3. What are the key factors driving the global retail analytics market?
4. What has been the impact of COVID-19 on the global retail analytics market?
5. What is the breakup of the global retail analytics market based on the function?
6. What is the breakup of the global retail analytics market based on the component?
7. What is the breakup of the global retail analytics market based on the deployment mode?
8. What is the breakup of the global retail analytics market based on the end user?
9. What are the key regions in the global retail analytics market?
10. Who are the key players/companies in the global retail analytics market?
1 Preface
2 Scope and Methodology
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3 Executive Summary
4 Introduction
4.1Overview
4.2Key Industry Trends
5 Global Retail Analytics Market
5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast
6 Market Breakup by Function
6.1Customer Management
6.1.1 Market Trends
6.1.2 Market Forecast
6.2In-store Operation
6.2.1 Market Trends
6.2.2 Market Forecast
6.3Strategy and Planning
6.3.1 Market Trends
6.3.2 Market Forecast
6.4Supply Chain Management
6.4.1 Market Trends
6.4.2 Market Forecast
6.5Marketing and Merchandizing
6.5.1 Market Trends
6.5.2 Market Forecast
6.6Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Component
7.1Software
7.1.1 Market Trends
7.1.2 Market Forecast
7.2Services
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Deployment Mode
8.1On-premises
8.1.1 Market Trends
8.1.2 Market Forecast
8.2Cloud-based
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by End User
9.1Small and Medium Enterprises
9.1.1 Market Trends
9.1.2 Market Forecast
9.2Large Enterprises
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Region
10.1North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2Asia Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1Overview
11.2Strengths
11.3Weaknesses
11.4Opportunities
11.5Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1Overview
13.2Bargaining Power of Buyers
13.3Bargaining Power of Suppliers
13.4Degree of Competition
13.5Threat of New Entrants
13.6Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1Market Structure
15.2Key Players
15.3Profiles of Key Players
15.3.11010data Inc. (Advance Publications Inc.)
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2Adobe Inc.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3Altair Engineering Inc.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.4Flir Systems Inc.
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.4.4 SWOT Analysis
15.3.5Fujitsu Limited
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6International Business Machines Corporation
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7Information Builders Inc.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.8Microsoft Corporation
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9Microstrategy Incorporated
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10Oracle Corporation
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.10.4 SWOT Analysis
15.3.11Qlik Technologies Inc. (Thoma Bravo LLC)
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.12SAP SE
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.12.3 Financials
15.3.12.4 SWOT Analysis
15.3.13SAS Institute Inc.
15.3.13.1 Company Overview
15.3.13.2 Product Portfolio
15.3.13.3 SWOT Analysis
15.3.14Tableau Software LLC (Salesforce.com Inc.)
15.3.14.1 Company Overview
15.3.14.2 Product Portfolio
15.3.15Tibco Software Inc.
15.3.15.1 Company Overview
15.3.15.2 Product Portfolio
15.3.15.3 SWOT Analysis
Figure 1: Global: Retail Analytics Market: Major Drivers and Challenges
Figure 2: Global: Retail Analytics Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Retail Analytics Market: Breakup by Function (in %), 2022
Figure 4: Global: Retail Analytics Market: Breakup by Component (in %), 2022
Figure 5: Global: Retail Analytics Market: Breakup by Deployment Mode (in %), 2022
Figure 6: Global: Retail Analytics Market: Breakup by End User (in %), 2022
Figure 7: Global: Retail Analytics Market: Breakup by Region (in %), 2022
Figure 8: Global: Retail Analytics Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 9: Global: Retail Analytics (Customer Management) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Retail Analytics (Customer Management) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Retail Analytics (In-store Operation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Retail Analytics (In-store Operation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Retail Analytics (Strategy and Planning) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Retail Analytics (Strategy and Planning) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Retail Analytics (Supply Chain Management) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Retail Analytics (Supply Chain Management) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Retail Analytics (Marketing and Merchandizing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Retail Analytics (Marketing and Merchandizing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Retail Analytics (Other Functions) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Retail Analytics (Other Functions) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Retail Analytics (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Retail Analytics (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Retail Analytics (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Retail Analytics (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Retail Analytics (On-premises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Retail Analytics (On-premises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Retail Analytics (Cloud-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Retail Analytics (Cloud-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Retail Analytics (Small and Medium Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Retail Analytics (Small and Medium Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Retail Analytics (Large Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Retail Analytics (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: North America: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: North America: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: United States: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: United States: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Canada: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Canada: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Asia Pacific: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Asia Pacific: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: China: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: China: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Japan: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Japan: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: India: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: India: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: South Korea: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: South Korea: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Australia: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Australia: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Indonesia: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Indonesia: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Others: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Others: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Europe: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Europe: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Germany: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Germany: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: France: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: France: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: United Kingdom: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: United Kingdom: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Italy: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Italy: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Spain: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Spain: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Russia: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Russia: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Others: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Others: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Latin America: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Latin America: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Brazil: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Brazil: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Mexico: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Mexico: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Others: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Others: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Middle East and Africa: Retail Analytics Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Middle East and Africa: Retail Analytics Market Forecast: Breakup by Country (in %), 2022
Figure 81: Middle East and Africa: Retail Analytics Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Global: Retail Analytics Industry: SWOT Analysis
Figure 83: Global: Retail Analytics Industry: Value Chain Analysis
Figure 84: Global: Retail Analytics Industry: Porter's Five Forces Analysis
Table 1: Global: Retail Analytics Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Retail Analytics Market Forecast: Breakup by Function (in Million US$), 2023-2028
Table 3: Global: Retail Analytics Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 4: Global: Retail Analytics Market Forecast: Breakup by Deployment Mode (in Million US$), 2023-2028
Table 5: Global: Retail Analytics Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 6: Global: Retail Analytics Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Retail Analytics Market Structure
Table 8: Global: Retail Analytics Market: Key Players
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