Big Data Analytics in Retail Market Research Report

 

Growth opportunities in Big Data Analytics in the Retail Market look promising over the next six years. This is mainly due to the integration of advanced technologies such as IoT and artificial intelligence and the rising need to deliver customized user experiences to expand supply.

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Big Data Analytics in Retail Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

Swiftly expanding retail sector along with the extending e-commerce platform led by the accelerating penetration of smartphones and internet services is the crucial driver responsible for the growth of the global big data analytics in the retail market. Also, the incorporation of sophisticated technologies such as artificial intelligence, the internet of things, and machine learning in extensive data analysis, the surge in demand for predictive analysis in the market, and personalized user experience to amplify sales will further strengthen the market size. Moreover, the augmenting implementation of these tools, including Tableau by Tableau Software, Llc; WebFOCUS by International Business Machines Corporation; Sspotfire by TIBCO Software Inc, International, and ThoughtSpot. for prescient analytics and improved decision-making in the business process will offer enormous growth opportunities for the market. However, excessive investment value and complications of these solutions will hamper the market growth. In addition, the rising apprehension concerned with data protection challenges to seize customer data and instability in data collection may further curb the big data analytics in the retail market share.

Application Segment Drivers

Based on application, merchandising, and supply chain analytics segment is projected to dominate the market during the forecast period. This is primarily attributed to their utilization in enormous applications, including tracking and discovering product flow in real-time, enhanced accuracy in forecasting customer buying patterns, and supervising supply chain and product distribution. Various prominent market players, including Amazon.com, Inc., Walmart Inc., Costco Wholesale Corporation, Asos Plc, Starbucks Corporation, and Inter IKEA Systems B.V, are making use of these tools for improving their businesses. This is further supplementing the market growth.

Regional Drivers

Based on regional coverage, North America is predicted to lead the market over the forecast period. This is mainly because of the prominence of several huge vendors, like Alteryx Inc., SAS Institute Inc.,  International Business Machines Corporation, and MicroStrategy Incorporated. Moreover, according to the National Retail Federation, the sales during 2020 will escalate in the middle of 3.5% and 4.1% to over USD 3.9 trillion, which contributes to the growth of the market.

Big Data Analytics in Retail Market’s leading Manufacturers:

·        Teradata Corporation

·        SAS Institute Inc.

·        Salesforce.com, Inc.

·        QlikTech International AB

·        International Business Machines Corporation

·        Adobe, Inc.

·        Microsoft Corporation

·        SAP SE

·        Tableau Software LLC

·        Oracle Corporation

Big Data Analytics in Retail Market Segmentation:

Segmentation by Application

·        Merchandising and Supply Chain Analytics

·        Social Media Analytics

·        Customer Analytics

·        Operational Intelligence

·        Others

Segmentation by Business Type

·        Small and Medium Enterprises

·        Large-Scale Organizations

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

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