Big Data Analytics in Retail Market:
The GMI Research’s latest analysis reveals that the Big Data Analytics in Retail Market is slated to register a significant CAGR over the coming years. This is attributed to the introduction of advanced technologies, including artificial intelligence, IoT, machine learning in big data analytics, and the requirement to deliver a customized user experience to increase sales.
Big Data Analytics in Retail Market’s leading Manufacturers:
- Oracle Corporation
- International Business Machines Corporation
- Tableau Software LLC
- QlikTech International AB
- SAP SE
- com, Inc.
- Microsoft Corporation
- SAS Institute Inc.
- Adobe, Inc.
- Teradata Corporation
Big Data Analytics in Retail Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The global big data analytics in the retail market is predicted to witness an upsurge in demand during the forecast period due to the increasing e-commerce retail platform and the rising retail sector owing to the strong penetration of smartphones and internet services. Furthermore, the introduction of advanced technologies including artificial intelligence, IoT, and machine learning in big data analytics, the requirement to deliver customized user experience to increase sales, the rising demand for prescient analytics in retail will further stimulate the growth of the big data analytics in the retail market. In addition to this, the growing usage of big data analytics tools, such as Tableau by Tableau Software, Llc, ThoughtSpot, WebFOCUS by International Business Machines Corporation, Board BEAM by Board International, Spotfire by TIBCO Software Inc. for predictive analytics and improved decision-making in the business process is expected to create various new growth opportunities to the market in the upcoming yeas. On the other hand, high-cost investment and complexity of big data solutions will hinder the growth of the market during the forecast period. Moreover, the rising concern for data security, issues in capturing customer data, and inconsistency in data collection are restraining the market growth.
Application Segment Drivers
Based on application, merchandising and supply chain analytics is projected to dominate the market due to the usage of big data analysis for various applications, such as improved accuracy in predicting customer buying patterns, tracking and tracing product flow in real-time, and managing supply chain and product distribution. Several major retail players like Asos Plc, Walmart Inc., Costco Wholesale Corporation, Starbucks Corporation, Inter IKEA Systems B.V, and Amazon.com, Inc. are using big data analysis for enhancing their businesses. This is further anticipated to fuel the growth of the market.
Regional Drivers
Based on region, North America is projected to rise at a higher CAGR over the coming years due to the strong presence of various leading big data analytics vendors, such as Alteryx Inc., International Business Machines Corporation, MicroStrategy Incorporated, and SAS Institute Inc., among others. As per the National Retail Federation, the retail sales by 2020 will surge between 3.5% and 4.1% to more than USD 3.9 trillion, which will further support the market growth.
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
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several 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 help our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
