This report provides exclusive insights into the COVID-19 impact on the Retail Analytics Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Retail Analytics Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Retail Analytics Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.

A recent report published by Infinium Global Research on the retail analytics market provides an in-depth analysis of segments and sub-segments in the global as well as regional retail analytics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional retail analytics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global retail analytics market. According to the report, the global retail analytics market is projected to grow at a CAGR of 19.2% over the forecast period of 2019-2025.

Market Insight

Retail analytics allows retailers to make smarter decisions and it helps to manage business more effectively and efficiently. It helps to understand crucial data for business regarding inventory, sales, supply chain activities, and more. The analytics on demand and supply data is used for maintaining the procurement level and taking marketing decisions.

The rapid development of technologies such as artificial intelligence, machine learning, and augmented reality is a major factor driving the growth of the retail analytics market. Machine learning collects data from customers and helps retailers to check and monitor the prices of competitors. IKEA launched a new augmented reality application that allows users to test IKES’a products in real-time with Apple iOS 11’s ARKit technology. The Internet is a key pillar of the modern information society. The global internet penetration rate is 57% which contributes to the growth of the retail analytics market. The rising use of social media worldwide augments the market’s growth. In 2018, around 2.65 billion people were using social media globally. The proliferation of smartphones and the digital revolution are reasons for the rising demand of the retail analytics market. The increasing use of retail analytics for enhanced profitability, the surge in the rate of return with minimum investment, and optimized customer relationships are likely to augment the market growth. In addition, changing consumer behavior with rising preference for personalized and tailored shopping supplements the growth of the retail analytics market. On the other side, the lack of skilled professionals in retail analytics hampers the growth of the retail analytics market. Moreover, the growing advancement of cloud-based analytics creates several opportunities for the market.

North America is anticipated to have a dominant share in the global retail analytics market due to the growing adoption of e-commerce services and an increasing number of retail chains. Europe is expected to grow in the global retail analytics market with a healthy CAGR over the forecast period. The presence of large players in Europe stimulates the growth of the retail analytics market in Europe. On the other hand, Asia-Pacific region has the fastest growth in this market owing to the growing smartphone adoption and infrastructure development. Four of the top seven markets globally related to smartphone adoption are in the Asia-Pacific region which are Singapore, South Korea, Macao, and Australia.

Segment Covered

The report on the global retail analytics market covers segments such as component, deployment model, and application. On the basis of component, the sub-markets include software, and services. On the basis of the deployment model, the sub-markets include on-premises, and on-demand. On the basis of application, the sub-markets include customer management, merchandising analysis, pricing analysis, inventory analysis, performance analysis, and other applications.

Companies Profiled:

The report provides profiles of the companies in the market such as Microsoft Corporation, Oracle Corporation, SAS Institute, Inc., International Business Machines Corporation, SAP SE, Fujitsu Ltd., Qlik Technologies Inc., Angoss Software Corporation, MicroStrategy Inc., Information Builders Inc., and other companies.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of retail analytics market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.