The retail analytics market has improved the overall businesses by developing good customer relationships which have proved beneficial and gained competitive advantages.
Sarasota, FL -- (SBWIRE) -- 05/10/2017 -- Zion Market Research, the market research group announced the analysis report titled "Retail Analytics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Retail Analytics Market: Overview
In the recent years, big data analytics market has grown tremendously owing to its increased application in the various industries. It has helped the business to grow in a positive way as it helps in understanding the market trends and the preferences of the customer. The retail analytics market is a section of big data analytics market. The retail analytics helps in gathering data and assessment of the information across the complete value chain. The main objective of the retail analytics is to understand and respond to the customer preferences.
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Global Retail Analytics Market: Segmentation
The retail analytics market is globally segmented into solution, business function, service, deployment type, and regions. On the basis of the solution, the market is segregated into analytics tools, reporting and visualization tools, data management software and mobile applications. Based on the business function, the retail analytics market is categorized into marketing and customer analytics, supply chain analytics, merchandizing and in-store analytics and strategy and planning market. By service, the market is classified as consulting and system integration and support and maintenance service. Based on the deployment mode, the market is divided into on-premises and cloud. Geographically, the retail analytics market is diversified into regions such as North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
Global Retail Analytics Market: Growth Factors
The retail analytics market has improved the overall businesses by developing good customer relationships which have proved beneficial and gained competitive advantages. Bulk volume, variety and velocity of the big data are expected to have a significant effect on the retail analytics market. The prime factors that are affecting the market growth include increasing online shopping, utilization of social media, consecutive increase in big data and proliferation of smart phones owing to which online shopping has become easy for the customers. The other factors that are triggering the market growth are rise in the demand for the retail analytics in the customer purchasing monitoring and inventory management and planning. The technological advancements made in the retail analytics market also contribute to the market growth. The factors that hamper the market growth include the high analytics cost and the lack of ability to understand the offline market behavior of the consumers.
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Global Retail Analytics Market: Regional Analysis
The region that is prominent in the retail analytics market is the North America. The factor that is contributing to this growth is the high implementation of the retail analytics solutions in different businesses. The implementation of the retail analytics is also growing in the Europe and Asia Pacific region. The growth in the Asia-Pacific region is owing to the rise in the penetration of the social media and the growth in the e-commerce.
Global Retail Analytics Market: Competitive Players
The key market players in the retail analytics market include International Business Machines Corporation, SAS Institute, Inc., Information Builders, Tableau Software, Inc., Oracle Corporation, Microsoft Corporation, SAP SE, Adobe Systems Incorporated, Microstrategy Incorporated and Qlik Technologies, Inc.
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Global Retail Analytics Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa