Global Data Driven Retail Solution Market – Industry Trends and Forecast to 2029

Market Analysis and Insights of Data Driven Retail Solution Market

Growth and expansion of semiconductors industry especially in the emerging ones, growing usage of data driven retail solutions by the small and medium scale enterprises in the developing economies, surging use of internet of things in retail processes, rising up gradation of existing infrastructure with advanced systems and increasing infrastructural development activities especially in the developing economies are the major factors attributable to the growth of data driven retail solution market. Data Bridge Market Research analyses that the data driven retail solution market will exhibit a CAGR of 12.40% for the forecast period of 2022-2029. Therefore, the market value, which was USD 15,393.50 million in 2020, would rocket up to USD 44,079.25 by 2029.

Data driven retail solutions are the solutions that are used to measure everything in the organization that help to evaluate the competitive landscape, optimize operations and develop effective and efficient retail strategies. Data driven retail solutions are used to optimize the channel selection and generate accurate data analytics.

Rising demand from the fast moving consumer goods industry and growth in the adoption of industry 4.0 by the retail sector will emerge as the major market growth driving factors. Growing adoption of advanced technologies such as artificial intelligence (AI), machine learning (ML), augmented reality (AR), surging usage of data-driven retail solutions by retailers to personalize the consumers experience, increasing awareness among retailers about the benefits of cloud computing and intelligent solutions, and widespread industrialization will further aggravate the market value. Growing expenditure to undertake research and development proficiencies and surging awareness among retailers about the benefits of cloud computing and intelligent solutions will further carve the way for the growth of the market.

However, high costs associated with the research and development proficiencies and limited digitization in the under-developed countries will act as growth restraints for the market. Also, stringent regulatory framework and low spending on technology-proven solutions due to COVID-19 will further dampen the growth rate of the market. Large scale technological and infrastructural limitations in the underdeveloped economies and high initial cost for implementing a retail analytics plan will further challenge the market growth rate.

This data driven retail solution market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on data driven retail solution market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Data Driven Retail Solution Market Scope and Market Size

The data driven retail solution market is segmented on the basis of component, enterprise size, retail store type and deployment model. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.

• On the basis of component, the data driven retail solution market is segmented into solution and services. Solution segment is sub-segmented into retail customer intelligence, media intelligence, customer relationship management, collaboration tools and others. Services segment is sub-segmented into consulting, implementation service and integration.
• On the basis of enterprise size, the data driven retail solution market is segmented into small and medium size enterprise and large enterprise.
• Based on retail store type, the data driven retail solution market is segmented into apparel and accessories, fast-moving consumer goods, hardlines and leisure goods and others.
• Based on deployment model, the data driven retail solution market is segmented into cloud and on premises.

Global Data Driven Retail Solution Market Country Level Analysis

The data driven retail solution market is analysed and market size, volume information is provided by country, component, enterprise size, retail store type and deployment model as referenced above.

The countries covered in the data driven retail solution market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America region dominates the data driven retail solution market will continue to flourish its trend of dominance during the forecast period owing to the rising technological transformations in the retail sector. Asia-Pacific region will score the highest growth rate owing to the high internet penetration and increasing digitalization of the developing economies.

The country section of the data driven retail solution market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Data Driven Retail Solution Market Share Analysis

The data driven retail solution market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to data driven retail solution market.

Some of the major players operating in the data driven retail solution market are Microsoft, IBM, Tata Consultancy Services Limited, Oracle, Adobe, SAP SE, Tableau Software LLC, TIBCO Software Inc., 10101Data, Retail Solutions Inc., RetailNext Inc., Alteryx Inc., Teradata Corporation, MicroStrategy Incorporated, SAS Institute Inc., Wipro Limited, HCL Technologies Limited, QlikTech International AB, Flir Systems Inc., Fractal Analytics Inc., Accenture and Happiest minds among others.

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