Retail Analytics Market Is Expected to Garner Growth


Retail analytics is the process of providing analytical data for supply chain management, merchandise intelligence, inventory management, cyber security, supply & demand processing, customer engagement, sales data modelling, and others. It helps in the process of decision-making, as it provides customer insights and scope for product marketing.
Increasing adoption of new technologies is one of the major factors driving growth of the market
Rising adoption of new technologies such as big data, internet of things (IoT), and real-time analytics by various organizations to enhance business outcomes is driving growth of the retail analytics market. According to Coherent Market Insights’ analysis, around 70% of the retail industries are expected to adopt IoT by 2021. Retail analytics collects data from big data, machine learning, and artificial intelligence and business process, thereby delivering accurate information to solve business issues. Retail analytics provides customer insights from the real data, which helps the retailers to understand customer behavior and develop a customer centric product. This helps the organization to strengthen its foothold in the market, thereby fueling growth of the retail analytics market.
High cost of analytical tools is one of the major factors hampering growth of the market
The high cost of analytical tools is one of the major factors restraining growth of the market. Moreover, lack of unskilled workforce is also expected to hamper growth of the market over the forecast period.
Global Retail Analytics Market: Regional Insights
North America is expected to hold a dominant position in the market over the forecasted period, owing to rising e-commerce sector. For instance, according to the U.S. Commerce Department analysis, in 2016, the sales from e-commerce was 41.6% and it increased up to 49.4% in 2017. Digitalization, rising disposable income, and rising adoption of IOT are some of the factors responsible for increasing the sales of the e-commerce sector. Therefore, increasing sales of e-commerce will lead to increasing demand for analytical tools, which will boost growth of the retail analytics market in the region.
Global Retail Analytics Market: Competitive Landscape
The key players operating in the global retail analytics market include IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Adobe Systems Incorporated, SAS Institute Inc., HCL Technologies Ltd., Cisco Systems Inc., MicroStrategy, Inc., and Tableau Software, Inc. The major players of the market such as IBM Corporation, Microsoft, and Oracle Corporation are adopting strategies such as mergers and acquisitions for product development, in order to retain the position in the market. For instance, in December 2014, Oracle Corporation introduced the Oracle Retail Merchandising Analytics 14.1 version, which helps the retailers to improve their business performance by leveraging the real data collected from the consumers.
Global Retail Analytics Market: Taxonomy
On the basis of component type, the global retail analytics market is segmented into:
  • Software
  • Services
On the basis of deployment model, the global retail analytics market is segmented into:
  • On-Premises
  • On-Demand
On the basis of organization size, the global retail analytics market is segmented into:
  • SMEs (Small and Medium Enterprises)
  • Large Enterprises
On the basis of application, the global retail analytics market is segmented into:
  • Merchandising Analysis
  • Customer Analysis
  • Performance Analysis 
  • Inventory Analysis
  • Others


About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.


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