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)
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