Market Research Future (MRFR) has revealed in its report recently that the global retail cloud market is poised to grow saliently at 17% CAGR during the forecast period 2016 to 2024. MRFR has further estimated that the valuation of retail cloud market will reach USD 28 Bn by 2024 up from USD 10 Bn in 2016.
The exponential adoption of e-commerce by the customers have fueled the demand for retail cloud market. Retail cloud technology offers solutions for issues related to CRM, disaster recovery, discounts & promotions, workforce management, data analytics and others. This, in turn, is anticipated to have a favorable influence on the market expansion over the next few years.
The large-scale penetration of smartphones is further responsible for the acceleration of revenue creation in the retail cloud market. According to a study, more than 90% of the customers use smartphones for shopping and price comparison. Furthermore, a shift towards omnichannel experience is estimated to catapult the retail cloud market on an upward trajectory over the review period.
The factors responsible for holding the growth of the market is the deeply rooted unorganized sector in developing economies such as India, the less mature distribution channel, etc.
By product, the retail cloud market has been segmented into customer management, workforce management, supply chain management, data security management, reporting & analytics, and others.
By deployment, the global retail cloud market is segmented into public cloud, private cloud, and hybrid cloud.
By services, the retail cloud market has been segmented into software as a service, platform as a service, and infrastructure as a service.
By end-user, the global retail cloud market is segmented into small & medium size industry and large-scale industry.
By region, the global Retail Cloud Market Research has been segmented into North America, Europe, Asia Pacific, and the Middle East & Africa. North America holds the most substantial share of the global market which accounts for 45% share. The region is likely to retain a dominant position in the foreseeable future. The growth of the region is attributable to the large-scale adoption e-commerce by the population.
Europe has captured 26% share of the market and is estimated to hold the second spot through the review period. Asia Pacific is projected to remain highly lucrative market expanding at the highest CAGR over the next couple of years.
Some of the key players profiled by MRFR in its report are SAP SE, Microsoft Corporation, Fujitsu Global, Infor, Inc., and Retail cloud, IBM Corporation, Oracle Corporation, Syntel, Inc., Cisco Systems Corporation, and Google, Inc. The strategies employed by the players for gaining traction in the market include technological advancements, expansion of portfolios, product innovations, research & developments, etc.
In August 2018, Aptos, Inc., a leader in retail technology solutions, announced its partnership with DTLR VILLA, LLC (DTLR), a retail leader in lifestyle, footwear and apparel. DTLR has successfully deployed Aptos solutions in the cloud in nearly 240 stores.
LIST OF TABLES
TABLE 1 GLOBAL RETAIL CLOUD MARKET, BY PRODUCT, 2016-2024 (USD BILLION)
TABLE 2 GLOBAL CUSTOMER MANAGEMENT IN RETAIL CLOUD MARKET, 2016-2024 (USD BILLION)
TABLE 3 GLOBAL WORKFORCE MANAGEMENT IN RETAIL CLOUD MARKET, 2016 & 2024 (USD BILLION)
TABLE 4 GLOBAL SUPPLY CHAIN IN RETAIL CLOUD MAREKT, 2016 – 2024 (USD BILLION)
TABLE 5 GLOBAL DATA SECURITY IN RETAIL CLOUD MAREKT, 2016 -2024 (USD BILLION)
LIST OF FIGURES
FIGURE 1 GLOBAL RETAIL CLOUD MARKET: DRIVERS & INGIBITORS
FIGURE 2 GLOBAL RETAIL CLOUD MARKET: SUPPLY CHAIN PROCESS 14
FIGURE 3 GLOBAL RETAIL CLOUD MARKET: PORTER’S FIVE FORCES ANALYSIS 14
FIGURE 4 GLOBAL RETAIL CLOUD MARKET, BY PRODUCT, 2016 & 2024 (USD BILLION) 16
FIGURE 5 GLOBAL CUSTOMER MANAGEMENT IN RETAIL CLOUD MARKET, 2016 & 2024 (%) 17
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