Dublin, Oct. 27, 2023 (GLOBE NEWSWIRE) -- The "Retail Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global retail analytics market size reached US$ 7.3 Billion in 2022. Looking forward, the market is set 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. 
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 Questions Answered in This Report
- What was the size of the global retail analytics market in 2022?
- What is the expected growth rate of the global retail analytics market during 2023-2028?
- What are the key factors driving the global retail analytics market?
- What has been the impact of COVID-19 on the global retail analytics market?
- What is the breakup of the global retail analytics market based on the function?
- What is the breakup of the global retail analytics market based on the component?
- What is the breakup of the global retail analytics market based on the deployment mode?
- What is the breakup of the global retail analytics market based on the end user?
- What are the key regions in the global retail analytics market?
- Who are the key players/companies in the global retail analytics market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 139 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $7.3 Billion |
| Forecasted Market Value (USD) by 2028 | $22.2 Billion |
| Compound Annual Growth Rate | 20.4% |
| Regions Covered | Global |
Competitive Landscape
- 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.
Key Market Segmentation
Function Insights:
According to the report, customer management represented the largest segment.
- Customer Management
- In-store Operation
- Strategy and Planning
- Supply Chain Management
- Marketing and Merchandizing
- Others
Component Insights:
According to the report, software accounted for the largest market share.
- Software
- Services
Deployment Mode Insights:
According to the report, cloud-based accounted for the largest market share.
- On-premises
- Cloud-based
End User Insights:
According to the report, large enterprises accounted for the largest market share.
- Small and Medium Enterprises
- Large Enterprises
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
For more information about this report visit https://www.researchandmarkets.com/r/vsqm1u
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